About 1508 N Mitchell Street
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.
Features of 1508 N Mitchell Street
| MLS® # | 72026002162 |
|---|---|
| Price | $2,340,000 |
| Bathrooms | 15.00 |
| Acres | 0.00 |
| Year Built | 1980 |
| Type | CommercialSale |
| Sub-Type | BusinessandRealEstate |
| Status | Active |
Community Information
| Address | 1508 N Mitchell Street |
|---|---|
| Area | Area83121HaringTwp |
| City | HaringCharterTownship_Wexford |
| County | Wexford |
| State | Michigan |
Amenities
| Utilities | ElectricityConnected, NaturalGasConnected, PhoneAvailable |
|---|---|
| Parking | Paved |
| Is Waterfront | No |
| Has Pool | Yes |
Interior
| Heating | ForcedAir, NaturalGas |
|---|---|
| Cooling | CentralAir |
| Fireplace | Yes |
Exterior
| Construction | Brick, Concrete, SteelSiding |
|---|
School Information
| District | Cadillac |
|---|---|
| High | Cadillac |
Additional Information
| Foreclosure | Yes |
|---|---|
| Short Sale | Yes |
| RE / Bank Owned | Yes |
Listing Details
| Office | RE/MAX TOGETHER |
|---|