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    OFF-MARKET
    Strip malls

    2603 Cleveland Ave, Saint Joseph, MI 49085-3016

    9,696 SF 1.6 ac lot Built 1977
    Entity Owned 6-yr Hold Free & Clear
    Property ID
    US43-3763057
    Property summary
    AI-generated overview

    This exceptional investment opportunity presents a fully occupied, multi-tenant retail center located at 2603 S Cleveland Ave, St. Joseph, Michigan 49085. The property boasts 10,222 square feet of retail space spread across four units within a two-story building constructed in 1977. Currently operating at 100% occupancy, this shopping center/storefront offers a stable income stream with four established tenants. The property sits on a substantial 69,696 square foot lot and provides ample parking with 39 spaces, plus additional rear space ideal for deliveries. Each of the four units features individual heating, electrical, and water meters, along with a basement for added storage or utility space. This versatile property is well-suited for a variety of uses, including medical offices (dentist, doctor), retail stores, or general office space. The asking price is $950,000. This established center is a cornerstone of the community and presents a compelling investment opportunity for a buyer seeking a stable, high-occupancy retail property. The sale is structured as a sale/leaseback.

    Property profile
    Verified
    Property type Strip malls
    Use group SHOPPING CENTER, STRIP CENTER
    Year built 1977
    Total area 9,696 SF
    Lot 1.6 ac (69,696 SF)
    Zoning code B1 - RETAIL
    APN 18-0002-0001-14-9
    UPID US43-3763057
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    by Request
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    Blend (final) Blend
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    Owner & transaction history
    Camelot Center LLC · 6 yrs held
    Camelot Center LLC
    since 2019
    1 recorded transaction
    2019
    Zoning & alternative use
    B1 - RETAIL · Saint Joseph, MI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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