Multi-Tenant Retail
For Sale
$2,340,000
1508 N Mitchell Street Cadillac, Cadillac, MI 49601
91% leased multi-tenant mall with one vacant anchor-sized space, loading docks, inventory, and storage.
Property Size47,945 SF
Days on Market49
Property Features for 1508 N Mitchell Street Cadillac
General Information
Standard status
Active
Size
47,945 SF
Total Parking Spaces
200
Occupancy
91%
Financials
Cap Rate
8%
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$34,004
Building Details
Building Size
47,945 SF
Year Built
1980
Buildings
1
Tenancy
Multi
Listing Agency:
City2Shore R.E. Muskegon
(616) 662-9664
Listed By:
Ronald Villerius · License #6502433108
(616) 662-9664
Source:
City2shore
Added: Jul 10
Changed: Aug 25
Last Checked: Aug 26 at 6:29AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of City2Shore R.E. Muskegon
Investment Insights
Based on property information with market context.
The Mitchell Street Mall is a multi-tenant retail center offered for sale as a stable, 91% leased asset. The property is described as well-constructed and maintained, with most units recently renovated and built out. Long-term leases are in place with stable businesses across the occupied spaces.
The center includes one vacant unit sized as an anchor store at approximately 25,000 square feet, presented as a turnkey major store space. It features commercial loading docks, inventory space, and storage areas, and is noted as previously operating as a JC Penny. The property is located at 1508 N Mitchell Street in Cadillac, Michigan.
Annual gross income is reported to exceed $270,000, and the offering highlights the upside from the single vacancy within the otherwise leased portfolio.
The center includes one vacant unit sized as an anchor store at approximately 25,000 square feet, presented as a turnkey major store space. It features commercial loading docks, inventory space, and storage areas, and is noted as previously operating as a JC Penny. The property is located at 1508 N Mitchell Street in Cadillac, Michigan.
Annual gross income is reported to exceed $270,000, and the offering highlights the upside from the single vacancy within the otherwise leased portfolio.
Key Highlights
- 91% leased multi‑tenant retail mall with one vacant anchor‑sized space
- Anchor store unit is 25,000 SF and includes commercial loading docks, inventory space, and storage (previously JC Penney)
- Annual gross income exceeds $270,000
Property Analytics
Property Profile
Current Use
Lease Details
91%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
315
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49601, MI
21,564
Population
10,734
Households
2
Avg Household Size
43
Median Age
25%
College-Educated
91%
High-School Grad
220.0 sq mi
ZIP Area
98
Density / Sq Mi
$65,704
Median Household Income
$37,347
Median Earnings
$856
Median Rent
$166,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - 91% leased multi-tenant mall with one vacant anchor-sized space, loading docks, inventory, and storage.
Where is this shopping center located?
The property is located at 1508 N Mitchell Street Cadillac Cadillac, MI.
What is the asking price?
The asking price for this property is $2,340,000.
What are key features of this property?
This property features: 91% leased multi‑tenant retail mall with one vacant anchor‑sized space; Anchor store unit is 25,000 SF and includes commercial loading docks, inventory space, and storage (previously JC Penney); Annual gross income exceeds $270,000
