Fully Leased Retail Strip
306 S Cedar St Mason, MI 48854
For Sale
$499,000
Pending
Turnkey investment property with stable cash flow and upside potential.
Property Size3,700 SF
Lot Size0.47 Acres
Days on Market95
Property Features for 306 S Cedar St
General Information
Standard status
Pending
Size
3,700 SF
Lot size
0.47 Acres
Property subtype
Commercial
Building Details
Year Built
1973
Listing Agency:
eXp Realty
(888) 501-7085
Listed By:
Audrey Schultz
(888) 501-7085
Source:
Elliman
Added: Apr 27
Changed: Jul 10
Last Checked: Jul 28 at 1:58PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This fully leased, 3,700 square foot retail strip center is located in downtown Mason on South Cedar Street. The property features two established tenants, Every Day Tobacco and Ruff Cuts Pet Grooming, both with strong operating histories. The property is zoned C-2 and situated on a 20,530 square foot lot with on-site parking. It offers 110 feet of road frontage and sees approximately 7,480 vehicles per day. The location provides convenient access to US-127 (Exit 66). Recent capital improvements include approximately $46,000 in new HVAC systems installed in 2025. The property has a $41,520 net operating income and an 8.32% cap rate. It is suitable for investors seeking reliable income or for an owner-occupant planning future use at lease rollover. The location has a bike score of 52, indicating it is bikeable, and a walk score of 66, indicating it is somewhat walkable.
Key Highlights
- Fully leased with two established tenants providing stable cash flow.
- Attractive 8.32% cap rate and $41,520 Net Operating Income (NOI) offer a strong return on investment.
- Recent HVAC system upgrades reduce near‑term maintenance costs.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.4k | $12.00 |
| − Vacancy | −$7.9k | −$2.15 |
| EGI | $36.5k | $9.85 |
| − OpEx | −$10.9k | −$2.96 |
| NOI | $25.5k | $6.90 |
3,700 SF · lease $12.00/SF/yr · vacancy 17.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$364.5K
$319.0K – $425.3K
NOI $25,517 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$594.5K
$520.2K – $693.5K
NOI $41,612 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Strip mall - Turnkey investment property with stable cash flow and upside potential.
Where is this strip mall located?
The property is located at 306 S Cedar St Mason, MI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Fully leased with two established tenants providing stable cash flow.; **Attractive 8.32% cap rate and $41,520 Net Operating Income (NOI) offer a strong return on investment.**; Recent HVAC system upgrades reduce near‑term maintenance costs.
