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    2991-2995 S State Rd Ionia, MI 48846

    For Sale
    $1,800,000

    Fully leased retail center with strong tenant mix and cashflow.

    Property size:
    24,000 SF
    Lot size:
    2.75 Acres

    Property Features for 2991-2995 S State Rd

    General Information

    Size
    24,000 SF
    Lot size
    2.75 Acres

    Source: Michael Cagen LLC Agent Michael A. Cagen

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Established Retail Center in Ionia

    Located at 2991 and 2995 S. State Rd in Ionia, MI, this multi-tenant retail center offers a proven investment opportunity within the city’s primary retail corridor. The property benefits from high visibility, significant traffic, and a strong retail presence. The center totals 24,000 rentable square feet across five units, fully leased to five tenants. The property has had zero vacancy since 2016. Current tenants include Ionia 24/7 Fitness, Continental Home Center, Smokey Mountain Tobacco, Ambulatory Care Clinic, and My Eye Dr., representing a mix of service, medical, retail, and fitness uses. The location is surrounded by established national and regional retailers, such as Menards, Walmart, and Meijer, drawing customer traffic and supporting tenant performance. Its placement along South State Road positions it as a key destination within Ionia’s retail landscape.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Secretary of State Self-service Station

    Location Insight

    • Map
    • Local Demand
    City
    Ionia
    County
    Ionia
    State
    Michigan
    Longitude
    -85.074672
    Latitude
    42.942172

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    FAQs

    What type of property is this?
    Shopping center - Fully leased retail center with strong tenant mix and cashflow.
    Where is this shopping center located?
    The property is located at 2991-2995 S State Rd Ionia, MI.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: - 8.10% Cap Rate offers attractive income potential.; - Fully leased 24,000 sq ft retail center with five tenants.; - Zero vacancy since 2016 demonstrating tenant retention and consistent cash flow.
    (616) 291-6222
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    2991-2995 S State Rd Ionia, MI 48846
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2991-2995 S State Rd Ionia, MI 48846
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