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Fully Leased Retail Strip Center

306 S Cedar St, Mason, MI 48854

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For Sale

$499,000

Turnkey investment property with stable cash flow and upside potential.

Type:Commercial

Property size:

3,700 SF

Lot size:

0.47 Acres

Price / SF:

$134/SF

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.
Prime downtown Mason location on high‑visibility S. Cedar Street with 110 feet of road frontage and high traffic counts.
Zoned C‑2, offering flexibility for future use or owner‑occupancy at lease rollover.
Convenient access to US‑127 and a walkable downtown location.

We can help!

Listing Contact

Audrey Schultz

Learn more

For Sale

$499,000

Turnkey investment property with stable cash flow and upside potential.

Type:Commercial

Property size:

3,700 SF

Lot size:

0.47 Acres

Price / SF:

$134/SF

Added:: Apr 27, 2026
Days on Market:: 49
Last Refresh:: Apr 27 at 12:28 am

Property Features for 306 S Cedar St

General Information

Standard status: Active
Size: 3,700 SF
Lot size: 0.47 Acres
Property subtype: Commercial

Building Details

Year Built: 1973

We can help!

Listing Contact

Audrey Schultz

Listing agent Audrey Schultz

Listing office eXp Realty

Listing date Apr 27, 2026

Source Elliman

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

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.
Prime downtown Mason location on high‑visibility S. Cedar Street with 110 feet of road frontage and high traffic counts.
Zoned C‑2, offering flexibility for future use or owner‑occupancy at lease rollover.
Convenient access to US‑127 and a walkable downtown location.

Overview

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.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

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 (±1% cap)

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 (±1% cap)

NOI $41,612 @ 7.0% cap · market cap 8.34%

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

Location Intelligence

Current Use by Public Records

Strip malls

Suggested Use

Location Insight

Map
Local Demand

City: Mason
County: Ingham
State: Michigan
Longitude: -84.453507
Latitude: 42.579427

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For sale
Strip malls
MI
Mason
48854
306 S Cedar St

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.