1508 N Mitchell Street, Cadillac, MI 49601

About this property

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.

Property details

MLS #

26002162

Status

Active

Property type

Commercial Sale

Sub type

Retail

County

Wexford

Township

Haring Twp

Year built

1980

Lot size

8.94 ac

Waterfront

No

Interior

Heating

Forced Air

Cooling

Central Air

Total building area

47,945 sq ft

Exterior

Construction

Brick

Lot and water

Lot size

389,426 sq ft

Road surface

Paved

Utilities

Water source

Public Water

Utilities

Electricity Connected, Natural Gas Connected, Cable Available, Electricity Available, Natural Gas Available, Phone Available

Taxes

Annual taxes

$34,004

Tax year

2024

Schools

School district

Cadillac

More

New construction

No

Directions

From Big Rapids, North on 131 to Cadillac, Near Cadillac's busy North end. Corner of Mitchell St. and Bell Ave.