15203 Holly Rd Holly, MI 48442-1163

This 2,400 square foot retail center in Holly, Michigan, presents a compelling value-add investment opportunity. Located at 15203 N Holly Rd, 48442, on a 0.37-acre lot, this single-story, 1995-built property currently houses two tenants, with one space available for lease. The current occupancy is 50%, with a Net Operating Income (NOI) of $26,651 and a projected NOI of $55,326 after lease-up. The asking price is $614,000, representing a current cap rate of 4.34% and a pro-forma cap rate of 9.01%. The property features a gross lease structure with a remaining lease term of approximately 2.3 years (expiring 02/28/2027). The strong location on Holly Road, a main retail corridor, ensures high visibility and accessibility. The area boasts a thriving retail environment, surrounded by established national retailers such as Rite Aid, CVS, McDonald's, and more. Within a 5-mile radius, the population exceeds 29,950, and the average household income within 1 mile is over $90,000. One tenant, Little Caesars, has occupied their space for over 10 years. The vacant unit is ideal for a small shop and offers attractive lease terms. This property offers significant upside potential due to the 50% vacancy rate.