Net Leased Retail Center For Sale

Shopping Center for Sale
Catylist Listing ID: 30338465
Property Subtypes: Strip Center
Building Size (RSF): 13,440 SF
Gross Land Area: 1.48 Acres
Sale Price: $1,050,000
Unit Price: $78.13 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Williamston Retail Center
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 90
Last Updated: 11/15/2018

Overview / Comments

This net lease retail center is located in the City of Williamston and includes a mix of both national and local retail tenants.
The building was construction in 1997 and has great curb appeal. The center is ideally located on Grand River Ave, which provides the main link to Okemos and the Lansing area to the West. Inside the City limits, the property is benefited by a lower speed limit in the area giving motorists the opportunity to safely enter and exit as well as getting a good idea of the tenants in the plaza. A large street sign provides extra exposure to the passing traffic.
Long term lease are in place and good upside exists in filling vacancy, which is current in progress. Tenant mix is well varied, providing consistent traffic flow that benefit all tenants. The area is well above average median income, providing an exception customer base for the tenants.
An additional expansion parcel is also available adding an additional 1.51 acres. Perfect for a STNL building or additional retail suites.
A full offering memorandum is available. Please inquire for NDA and access.

Additional Details

Nearest MSA: Lansing-East Lansing
County: Ingham
Taxing Authority: Ingham County / City of Williamston
Tax ID/APN: 33-18-03-35-379-028
Zoning: C-3 COMMERCIAL
Retail Clientele: General, Family
Property Visibility: Excellent
Feet of Frontage: 215
Total Number of Buildings: 1
Property Condition: Excellent
Year Built: 1997
Roof Type: Flat
Construction/Siding: Block
Parking Type: Surface
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,143 7,300 19,314
Median Age: 36.7 40.94 42.58
Households: 1,239 2,877 7,340

Contact

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