500 Marshall St Coldwater, MI 49036

Property Details for 500 Marshall St

Lot size

1.38 lot acres

Property type

Commercial real estate

APN

302-000-000-003-00

APU

30200000000300

Description

This exceptional investment opportunity presents a stabilized, three-tenant shopping center totaling 11,958 square feet situated on a 1.38-acre lot in Coldwater, Michigan. The property, known as Fairfield Plaza - North, boasts a prime location at the southeast corner of Marshall Street (Old US Hwy 27) and State Street, benefiting from high visibility and an average daily traffic count of 15,982 vehicles. The center features a strong tenant mix including a Family Dollar (9,120 sq ft), Hungry Howie's Pizza, and a dental laboratory—all long-term tenants generating significant traffic. The property is a single-story building with Commercial (C-1) zoning. The asking price is $995,000, representing a price per square foot of $100.67 and a 5.57% cap rate. An adjacent 20,000 square foot area offers potential for expansion, doubling the current size. The property benefits from its proximity to a larger retail center, Fairfield Plaza, further enhancing its visibility and drawing from a combined pool of over 20 tenants. The 5-mile radius boasts a population of approximately 21,546 residents. This well-positioned shopping center offers a compelling investment opportunity with strong tenant occupancy and significant growth potential. The property's location provides easy ingress and egress, supported by a traffic light at the intersection. Large pylon signage ensures high visibility for all tenants. The total land area encompasses 60,113 square feet.