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Hazel Park Plaza 3 Retail Properties Offered at $1,390,270 CAD in Clio, MI
Investment Highlights
- 11 retail/office suites in 3 buildings totaling 20,992 square feet
- Adjacent to the VG’s Grocery center
Executive Summary
Hazel Park Plaza consists of 11 retail/office suites in 3 buildings totaling 20,992 square feet on S. Mill St adjacent to the VG’s Grocery center. The buildings were built in 1996, 2001 and 2003 and situated on a total of 1.685 acres. This neighborhood shopping center is in excellent condition and has been well maintained. Tenants consist of mostly local operators with a couple franchises including; Edward Jones, Hungry Howie’s, Brough Bakery, The Oak Nutrition, Shaggy Chic Boutique, A&M Oriental Grocery, Marque Engraving, Medical Clinic, and Octane Salon taking 2 suites. Tenants are currently paying gross rent well under the market rate as shown in our rent comps study.
Taxes & Operating Expenses (Pro Forma - 2022) |
Annual (CAD) |
|---|---|
| Gross Rental Income |
$156,989
|
| Other Income |
$5,298
|
| Vacancy Loss |
$4,709
|
| Effective Gross Income |
$157,579
|
| Taxes |
$56,898
|
| Operating Expenses |
$21,108
|
| Total Expenses |
$78,007
|
| Net Operating Income |
$79,572
|
Taxes & Operating Expenses (Pro Forma - 2022)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $156,989 |
| Other Income (CAD) | |
|---|---|
| Annual | $5,298 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $4,709 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $157,579 |
| Taxes (CAD) | |
|---|---|
| Annual | $56,898 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $21,108 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $78,007 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $79,572 |
Property Facts
| Price | $1,390,270 CAD | Number of Properties | 3 |
| Price / SF | $71.70 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 5.72% | Total Building Size | 19,390 SF |
| Sale Type | Investment | Total Land Area | 1.94 AC |
| Status | Active |
| Price | $1,390,270 CAD |
| Price / SF | $71.70 CAD / SF |
| Cap Rate | 5.72% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 19,390 SF |
| Total Land Area | 1.94 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 600 S Mill St, Clio, MI 48420 | Retail | 7,908 SF | 2001 | - |
| 520-540 S Mill St, Clio, MI 48420 | Retail | 6,400 SF | 1996 | - |
| 100 Smith St, Clio, MI 48420 | Retail | 5,082 SF | 2003 | - |
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