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1366 Main St Adrian, MI 49221

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For Sale
Contact for pricing

High-yield retail center, strong tenants.

Property size:
202,228 SF

Property Features for 1366 Main St

General Information

Property type
Lifestyle centers
Square Feet
202,228 SF
Lot Size
1,185,268 SF

Building Details

Year Built
1980

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Listing Contact
Daniel Kukes
Daniel Kukes

Listing Agency: Landmark Commercial Real Estate Services Listing Agent: Daniel Kukes

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

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Overview

This exceptional 202,228 square foot shopping center in Adrian, Michigan presents a compelling investment opportunity. Located at 1366 S Main St, 49221, this multi-tenant property boasts a strong lineup of national brands including Planet Fitness, Harbor Freight, Staples, Family Farm & Home, Ivy Rehab for Kids, and Sherwin Williams. Built between 1980 and 1993, the center sits on a substantial 27.21-acre lot and is zoned for commercial use. Currently operating at 74.35% occupancy, the property offers significant upside potential for increased revenue. The asking price is $11,832,125, representing a price per square foot of $58.51 and an attractive 8.00% cap rate. The Net Operating Income (NOI) is $946,570. This dominant market center presents a rare chance to acquire a well-positioned asset priced below replacement cost, with strong tenant interest and opportunities to reduce the project basis and further enhance profitability. The property's lease type is NNN, offering a passive income stream. This is a value-add opportunity with considerable potential for long-term growth and return on investment.
Property Profile Location Intelligence

Current Use by Public Records

Lifestyle centers

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

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

Location Insight

  • Map
  • Local Demand
City
Adrian
County
Lenawee
State
Michigan
Longitude
-84.0455382
Latitude
41.8793413

FAQs

What type of property is this?
Lifestyle center - High-yield retail center, strong tenants.
Where is this lifestyle center located?
The property is located at 1366 Main St Adrian, MI.
What is the asking price?
The asking price for this property is $11,832,125.
What are key features of this property?
This property features: Strong tenant interest and occupancy at 74.35%.; Significant upside potential for increased revenue.; Opportunity to reduce project basis and enhance profitability.
(248) 488-2620 Call to check price and availability
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