Jonathan DeWindt - Coldwell Banker Weir Manuel
4743 Us Highway 10
Ludington, MI 49431

$2,800,000

Description

Multi-tenant retail portfolio that contains two retail centers on the same parcel. Both buildings were built in 2006 and share a parking lot with direct frontage/access to US-10. Building A is currently 100% occupied with a total of 4 tenants and is approx. 7,875 SF. Building B is currently 58.6% occupied with a total of two (2) tenants and is approx. 18,800 SF, with an approximate vacancy rate of 41.4%. There is plenty of opportunity for a prospective investor to add value by leasing the additional space. Financially, the assets are generating approximately $166,938 in revenue and cash flowing a Net Operating Income of $143,582. Purchase also includes 25+ acres in the back, excellent for redevelopment for hotel, restaurant, retail or mix-use development. Site is right off US-10

Details

MLS#18056185
StyleRetail
Sub-TypeResale
StatusActive
Year2006
Days On Site13

Features

SQ Feet18,800
Story(s)1

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Area Information

StateMI
CountyMason
CityLudington
Zip Code49431
AreaMasonOceanaManistee - O
Listing VS Median (in 49431)
Price:
$2,800,000
low | high
Med:
$79,900
100% of Average
SqFt:
18,800
low | high
Med:
1,265
100% of Average
$ / SqFt:
$149
low | high
Med:
$63
100% of Average
On Site:
13
low | high
Med:
41
31.707317073171% of Average
Listing Updated: 12/10/2018
MLS Number: 18056185
Listing Provided By:
Tae Yun  of  Five Star Real Estate (Casc)
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