RETAIL INVESTMENT OPPORTUNITY - PLAINWELL, MI

Shopping Center for Sale
Sale Pending
Catylist Listing ID: 30359734
Property Subtypes: Strip Center
Status: Pending
Building Size (RSF): 27,300 SF
Gross Building Area: See Agent
Gross Land Area: 4.37 SF
Sale Price: $2,300,000
Unit Price: $84.25 PSF
Property Use Type: Investment
Building Name: Oaks Crossing Shopping Center
Sale Terms: Cash to Seller
Cap Rate: 9.16%
Average Occupancy Rate: 100
Last Updated: 4/17/2019

Overview / Comments

INVESTMENT OPPORTUNITY – Fully occupied, 27,300 SF shopping center in Plainwell, Michigan. Situated in the M-89 retail corridor, between Plainwell and Otsego, Oaks Crossing is shadow anchored by Walmart Supercenter, M-89 Cinema & Café and GameStop. Co-tenants include Goin’ Postal, Perfect Iage Tanning Salon, Wild Bill’s Tobacco, Cricket Wireless, Jo’s Hallmark, Empire Wok, Perfect Image Salon, Family Fitness and Mancino’s Italian Eatery. Site offers 2 pylon signs, multiple access points and ample parking. Neighboring national retailers include Meijer, The Home Depot, Tractor Supply Company, Walgreens, Walmart Supercenter, Aldi and Goodwill.

Additional Details

Nearest MSA: Holland
County: Allegan
Taxing Authority: Otsego, Township of
Tax ID/APN: 0317-025-012-00
Zoning: C - GENERAL BUSINESS DISTRICT
Property Located Between: US-131 & Wilmott St.
Largest Nearby Street: US-131
Feet of Frontage: 1
Highway Access: Located just west of US-131.
Area Description: Located between Plainwell and Otsego in busy M-89 retail corridor.
Total Number of Buildings: 3
Number of Stories: 1
Year Built: 1988
Roof Type: Flat
Construction/Siding: Brick, Stucco
Parking Type: Surface
Parking Description: Ample parking
Total Parking Spaces: 180
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: C - General Business District
Water Service: Municipal
Sewer Type: Municipal, Storm
Legal Description: Attached

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,481 12,987 25,088
Median Age: 38.22 37.58 40.89
Households: 1,406 5,061 9,711

Contact

Photograph of Listing Agent

Jodi K. Milks, CCIM

Bradley Company CARWM Member
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