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Soo Plaza 3356-3366 I 75 Business Spur 44,917 SF 70% Leased Retail Building Sault Sainte Marie, MI 49783 $3,767,500 CAD ($83.88 CAD/SF) 4.82% Cap Rate
Investment Highlights
- 71,108 SF Retail Center Built in 1980 | Located Along 75 Business Spurr Averaging 15,600+ VPD
- Shopping Plaza Averages 180K+ Visits per year | Anchored by Arona
- Established Retail and Long-Term Tenant Commitments | Many with Renewals
- Recent Capital Expenses Include 2 New HVAC Units for Arona
- 30% Vacancy Across Six Suites | Value Add Opportunity to Increase NOI by Leasing 21,825 SF Available
- Easily Accessible and Excellent Visibility | Less than 2 Miles from I-75
Executive Summary
71,108 SF Retail Center Built in 1980 | Located Along 75 Business Spurr Averaging 15,600+ VPD
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
44,917 SF
Building Class
C
Year Built
1950
Price
$3,767,500 CAD
Price Per SF
$83.88 CAD
Cap Rate
4.82%
NOI
$181,583 CAD
Percent Leased
70%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.10
Lot Size
10.24 AC
Opportunity Zone
Yes
Zoning
B3 - Commercial Zoned District
Parking
60 Spaces (1.34 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Monument Signage
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Maximum building and road signage available with favorable lease terms (landlord will consider subdividing, landlord work letter, allowance, etc.). Combined trade area of Sault, Michigan and Sault, Canada has 86,000 people.
| Space | Size | Space Use | Position | Available |
| 3366 | 13,662 SF | Retail | End Cap | Now |
3366
| Size |
| 13,662 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
3366
| Size | 13,662 SF |
| Space Use | Retail |
| Position | End Cap |
| Available | Now |
Maximum building and road signage available with favorable lease terms (landlord will consider subdividing, landlord work letter, allowance, etc.). Combined trade area of Sault, Michigan and Sault, Canada has 86,000 people.
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Contacts
-
Deno Bistolarides -
Joe Lopez -
Evan Lyons -
Encore Real Estate Investment Services
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Soo Plaza | 3356-3366 I 75 Business Spur
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