Investment Opportunity along Cascade Road

Retail-Commercial for Sale
Catylist Listing ID: 30377341
Property Subtypes: Mixed Use, Street Retail
Building Size (RSF): 79,380 SF
Gross Building Area: See Agent
Gross Land Area: 10.38 Acres
Sale Price: $5,740,000
Unit Price: $72.31 PSF
Property Use Type: Investment
Building Name: Cascade Village Center
Sale Terms: Cash to Seller
Cap Rate: 8.83%
Average Occupancy Rate: 9,518
Last Updated: 9/17/2019

Overview / Comments

Cascade Village Center located in Grand Rapids, Michigan is one of the best retail locations in the area. Constructed of brick and vinyl in 1994, this 79,380 SF building is situated in the center of strong demographics. The center is comprised of four (4) buildings with a shared entry and surface parking. High traffic counts have attracted a variety of local, regional and national tenants. Cascade Village Center is currently 95.18% occupied presenting the opportunity for one more tenant to join the Center. Current tenants include Dollar Tree, Fit Body Boot Camp, Chow Hound Pet Supplies, Vandenberg Jewelers, GR Family Chiropractic, Fowling Warehouse and Panopoulos Salons.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: East 21/96
Taxing Authority: Cascade Township
Tax ID/APN: 41-19-09-451-052
Zoning: PUD
Retail Clientele: General, Family, Recreation
Property Visibility: Excellent
Tenancy: Multiple Tenants
Property Condition: Excellent

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,919 27,084 67,686
Median Age: 43.47 40.62 38.61
Households: 1,161 10,032 25,652

Contact

Photograph of Listing Agent

Michael Visser

Colliers International
CARWM Member
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