$2,340,000

Active

1508 N Mitchell Street, Cadillac, MI 49601

15 baths

Lot: 8.94 acres
Built: 1980
Type: Retail
On market: 214 days

DescriptionShow

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.

Facts & features

Interior4

Bathrooms: 15
Full baths: 15
Stories: 9999
Interior features: Broadband

Heating, cooling & utilities3

Heating: Forced Air
Cooling / AC: Central Air
Utilities: Phone Available, Natural Gas Available, Electricity Available, Cable Available, Natural Gas Connected, Electricity Connected

Exterior & construction3

Lot size: 8.94 acres
Construction: Brick
Year built: 1980

Property details7

Type: OTHER
Sub-type: Retail
County: Wexford
Parcel #: 2209-28-4202
Days on market: 214
MLS #: 26002162
Status: Active

District: Cadillac

No individual schools were listed for this home.

Assigned schools as entered by the listing agent. Attendance boundaries change — confirm with the district before relying on this.

Price & tax historyShow

$2,340,000

Listing courtesy of RE/MAX TOGETHER · Joseph McNally