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    4025 24Th Ave Fort Gratiot Township, MI 48059

    Sponsored
    For Sale
    $10,200,000

    Michigan Shopping Center - High Occupancy

    Property size:
    86,923 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    Fort Gratiot Plaza, located at 4025 24th Ave, Fort Gratiot Township, MI 48059, presents a compelling value-add opportunity in the retail sector. This 86,923 square foot shopping center sits on an 8.08-acre lot and comprises two single-story buildings. Currently boasting 91.03% occupancy, the property features a strong tenant lineup including Harbor Freight, CSL Plasma, and Salvation Army, among five total tenants. The Modified lease structure provides a stable income stream, with a current Net Operating Income (NOI) of $904,495 and an attractive 8.87% capitalization rate. The asking price is $10,200,000. Built in 1980, the property has undergone significant renovations in 1999, 2015, 2016, and 2017, reflecting a commitment to maintaining its appeal and functionality. Its location within a regional mall area creates significant barriers to entry for competitors. This property offers a unique blend of stable income and significant upside potential through lease-up opportunities and further value-add improvements. The below-market rents and pricing well below replacement cost present a compelling investment proposition for discerning buyers seeking strong returns in a stable market. The property's strong credit tenant lineup and history of capital expenditures (CAPEX) improvements further enhance its investment appeal.

    Property Features for 4025 24Th Ave

    General Information

    Property type
    Lifestyle centers
    Square Feet
    86,923 SF
    Lot Size
    351,965 SF

    Building Details

    Year Built
    1980
    Buildings
    2
    Stories
    1

    HighLights

    • Value‑Add Potential
    • Strong Credit Tenant Roster
    • Below Market Value & Rents
    • Stable Cash Flow
    • Recent Capital Improvements
    • Prime Regional Mall Location with High Barriers to Entry
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Gratiot Township
    County
    St. Clair
    State
    Michigan
    Longitude
    -82.457175
    Latitude
    43.026705

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Lifestyle center - Michigan Shopping Center - High Occupancy
    Where is this lifestyle center located?
    The property is located at 4025 24Th Ave Fort Gratiot Township, MI.
    What is the asking price?
    The asking price for this property is $10,200,000.
    What are key features of this property?
    This property features: Value-Add Potential; Strong Credit Tenant Roster; Below Market Value & Rents
    Request Owner's contact information
    4025 24Th Ave Fort Gratiot Township, MI 48059
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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
    4025 24Th Ave Fort Gratiot Township, MI 48059
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