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: 24.51 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: 6/24/2020

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: Ludington
County: Mason
Taxing Authority: Amber Township
Tax ID/APN: 53-001-018-086-0 & 53-001-018-086-01
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


Photograph of Listing Agent

Joe Rizqallah

Signature Associates
CARWM Member
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