Great investment opportunity in Big Rapids, Michigan-Near Ferris State University!

Call listing broker Mark Baker at 616-299-4146 to schedule a showing.

Property Subtypes: Community Center, Neighborhood Center, Outlet Center, Regional Mall, Strip Center
Building Size (RSF): 5,200 SF
Gross Land Area: 28,348 – 23,348 SF
Sale Price: $524,900
Unit Price: $100.94 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Business
Building Name: Mancinos Pizza, Tracy’s Hair Salon, Boost Mobile, Rise Smokeshop
Usable Size (USF): 5,200 SF
Sale Terms: Cash to Seller
Cap Rate: 8.5%
Average Occupancy Rate: 95
Last Updated: 12/1/2018

Overview / Comments

Prime retail location with excellent occupancy history in the heart of Big Rapids. Recent upgrades include, roof, parking lot lights, separately metered gas & electric

Additional Details

Nearest MSA: Big Rapids
County: Mecosta
Taxing Authority: City of Big Rapids
Tax ID/APN: 54-17-15-279-021
Zoning: C-3
Retail Clientele: General, Family, Recreation
Property Visibility: Fair
Feet of Frontage: 186
Highway Access: US-131 about 1 mile east to Exit 139
Airports: Mecosta County Airport 2 miles north
Site Description: NW Corner of S State St & Spring St. Curb cut from both streets.
Area Description: Immediately north of new O’Reilly’s Auto Parts, Wendys, Taco Bell, Subway. Between Downtown and Ferris State University. High Visibility location.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 5,200 SF
Property Condition: Excellent
Year Built: 1993
Year Renovated: 2017
Roof Type: Gable
Construction/Siding: Brick, Wood Siding
Exterior Description: Sloped roof total tear off & replacement in 2017. Lower brick with wood siding above, glass retail.
Parking Type: Surface
Parking Description: Typical park at the door retail strip
Sprinklers: None
Heat Type: Natural Gas
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: Typical retail space
Zoning Description: Commercial
Lot Frontage: 186
Lot Depth: 144
Water Service: Municipal
Sewer Type: Municipal
Legal Description: SEC 15, T15N, R10W – BEG ON THE W LI OF S STATE ST 225 FT S OF SE COR OF LOT 7 OF STIMSON’S ADDITION; TH W 148.5 FT; TH S TO N LI OF BLK 8 OF CLARK AND FULLER’S ADDITION; TH E 148.5 FT TO W LI OF S STATE ST; TH N TO POB ALSO THAT PART OF CLARK AND FULLER’S ADDITION — BLK 8, THE E 1/2, EXC BEG AT THE SE COR OF SD BLK 8, TH W 5 FT ALG BLK LI, TH NE’LY TO A PT ON E BLK LI 5 FT N OF POB, TH S 5 FT ALG BLK LI TO POB.

Map

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,669 14,167 17,456
Median Age: 23.23 27.19 29.67
Households: 1,926 4,652 6,006

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