1508 N Mitchell Street, Cadillac, MI 49601
sale
$2,340,000
|
Retail
Courtesy Of RE/MAX TOGETHER
1411 N. State St., Big Rapids, MI
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 delevopers to step into as a turn-key major store space, complete with commercial loading docks, inventory space, and storage areas (previously JC Penny). 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.
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Property Features
- Age: 41-50 Years Old
- Amenities: Cable Ready
- Building Units: 11
- Cooling System: Central Air
- Exterior Type: Brick
- Heating System: Forced Air
- Legal Description: Lengthy on file
- MLSID: 26002162
- Parking Spaces: 200
- Rooms: Bathroom 8
- Rooms: Bathroom 9
- Rooms: Bathroom 6
- Rooms: Bathroom 7
- Rooms: Bathroom 4
- Rooms: Bathroom 5
- Rooms: Bathroom 2
- Rooms: Bathroom 3
- Rooms: Bathroom 14
- Rooms: Bathroom 13
- Rooms: Bathroom 15
- Rooms: Bathroom 10
- Rooms: Bathroom 12
- Rooms: Bathroom 11
- Rooms: Bathroom 1
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