4743 W US 10

Retail-Commercial for Sale
Catylist Listing ID: 30351865
Property Subtypes: Street Retail, General
Building Size (RSF): 26,675 SF
Gross Land Area: 33.21 Acres
Sale Price: $2,800,000
Unit Price: $104.97 PSF
Ceiling: 18 ft.
Property Use Type: Investment
Building Name: LEAH'S LANDING
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/21/2019

Overview / Comments

Multi-tenant retail portfolio that contains two retail centers on the same parcel. Both buildings were built in 2006 and share a parking lot with direct frontage/access to US-10. Building A is currently 100% occupied with a total of 4 tenants and is approx. 7,875 SF. Building B is currently 58.6% occupied with a total of two (2) tenants and is approx. 18,800 SF, with an approximate vacancy rate of 41.4%. There is plenty of opportunity for a prospective investor to add value by leasing the additional space. Financially, the assets are generating approximately $166,938 in revenue and cash flowing a Net Operating Income of $143,582. Purchase also includes 25+ acres in the back, excellent for redevelopment for hotel, restaurant, retail or mix-use development. Site is right off US-10 and on the main retail drag along with Walmart, Lowe’s and ALDI.

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Mason
Taxing Authority: Amber Township
Tax ID/APN: 53-001-018-086-0 & 53-001-018-086-01
Zoning: COMMERCIAL
Largest Nearby Street: US 31
Area Description: DIRECTIONS: US 31 North - take US 10 West to property
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Year Built: 2006
Construction/Siding: Concrete, Steel Frame
Exterior Description: Brick/stone/poured concrete/metal
Total Parking Spaces: 70
Parking Type: Surface
Parking Description: Ample
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 10,986 17,444
Median Age: 43.05 44.55
Households: 4,729 7,357
The information presented herein is provided as is, without warranty of any kind. Neither Commercial Alliance of REALTORS West Michigan nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.