35
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$2,350,000
Est. payment /mo
47,945 SqFt
Active
1508 N Mitchell Street Cadillac, MI 49601
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Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 47,945 sqft
Price per Sqft $49
Subdivision Mi
MLS Listing ID 70511846
Year Built 1980
Annual Tax Amount $34,004
Tax Year 2024
Lot Size 8.940 Acres
Acres 8.94
Lot Dimensions Irregular
Property Sub-Type Commercial/Industrial
Property Description
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.
Location
State MI
County Wexford
Area Haring Twp (83009)
Interior
Heating Forced Air
Exterior
Parking Features 100+ Spaces
Building
Structure Type Brick,Concrete,Steel
Others
Energy Description Natural Gas
Financing Cash,Conventional
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Listed by RE/MAX TOGETHER
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