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1508-1574 N Mitchell St 47,945 SF 100% Leased Retail Building Cadillac, MI 49601 $3,260,390 CAD ($68.00 CAD/SF)
EXECUTIVE SUMMARY
Joe McNally and RE/MAX Together are pleased to offer The Mitchell Street Mall in Cadillac, MI. This is a 91% leased stable asset, that offers an investor the rare opportunity to acquire a well constructed and maintained multi tenant retail center at almost a 20 percent Cash-on-Cash Return and a current 8+ cap rate, with tremendous upward opportunity through the one vacant unit, an anchor store sized 25,000 square feet unit ready for investors or developers to step into as a turn-key major store space, complete with commercial loading docks, inventory space, and storage areas (previously JC Penney). This incredible location is set in the heart of one of Cadillac's most highly traffic corridors. Annual gross incomes exceed $270,000, with enormous upward potential. Most units have been recently renovated and built out, and have long term leases in place with stable businesses in place. This is a hard-to-find investment opportunity, call today for more information.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Building Size
47,945 SF
Building Class
C
Year Built
1988
Price
$3,260,390 CAD
Price Per SF
$68.00 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.61
Lot Size
1.81 AC
Frontage
200’ on N Mitchell St
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 2209-28-4202 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,171,104 CAD |
PROPERTY TAXES
Parcel Number
2209-28-4202
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,171,104 CAD
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The McNally Team
1508-1574 N Mitchell St
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