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    512 Mission St Mount Pleasant, MI 48858

    Sponsored
    For Sale
    $1,399,000

    High-yield storefront, prime location.

    Property size:
    18,104 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 18,104-square-foot retail storefront at 512 S Mission St, Mt Pleasant, MI 48858, presents a compelling investment opportunity. Boasting a 7.65% cap rate and a strong net operating income (NOI) of $107,000, this property offers significant potential for return. The asking price is $1,399,000, translating to $77.28 per square foot. The building, completely renovated in 2022, features two tenants. A substantial 9,000 square feet is available for lease at $6.00 per square foot, triple net (NNN). The seller is offering a sale-leaseback arrangement, including a 7-year lease with a 7-year option and a 10% rent increase. The existing upstairs tenant is secured with a 3-year lease and two 3-year options. This property is situated in Isabella County and benefits from its prime location and strong tenant occupancy. The building was originally constructed in 1960. This is a rare opportunity to acquire a high-performing retail property with a secure leaseback arrangement and significant upside potential.

    Property Features for 512 Mission St

    General Information

    Property type
    Individual retail properties
    Square Feet
    18,104 SF

    Building Details

    Year Built/Renovated
    1960/2022

    HighLights

    • 18,104 SF retail building for sale in Mt. Pleasant, MI.
    • 9,000 SF available for lease at $6.00/SF, NNN.
    • $1,399,000 sale price; 7.65% cap rate sale‑leaseback.
    • Two tenants generating $107,000 NOI.
    • Seller offering a 7‑year lease with a 7‑year option and 10% rent increase.
    • Completely renovated in 2022.
    Property Profile Location Intelligence

    Current Use by Public Records

    MP Fit Club Fitness Center Noble Appliance Appliance Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Pleasant
    County
    Isabella
    State
    Michigan
    Longitude
    -84.7681937
    Latitude
    43.5997964

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    FAQs

    What type of property is this?
    Individual retail property - High-yield storefront, prime location.
    Where is this individual retail property located?
    The property is located at 512 Mission St Mount Pleasant, MI.
    What is the asking price?
    The asking price for this property is $1,399,000.
    What are key features of this property?
    This property features: 18,104 SF retail building for sale in Mt. Pleasant, MI.; 9,000 SF available for lease at $6.00/SF, NNN.; $1,399,000 sale price; 7.65% cap rate sale-leaseback.
    Request Owner's contact information
    512 Mission St Mount Pleasant, MI 48858
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    Mount Pleasant, MI 48858
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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
    512 Mission St Mount Pleasant, MI 48858
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