For Sale
$11,832,125
1366 Main StAdrian, MI 49221
High-yield retail center, strong tenants.
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 117
Highlights
- Strong tenant interest and occupancy at 74.35%.
- Significant upside potential for increased revenue.
- Opportunity to reduce project basis and enhance profitability.
- National tenants (Planet Fitness, Harbor Freight, Staples, Family Farm & Home, Ivy Rehab for Kids, Sherwin Williams) with low rent per square foot.
- Priced below replacement cost at $11,832,125 ($58.51/SF) with an 8.00% cap rate and $946,570 NOI.
- Dominant market center in Adrian, Michigan.
Property Details for 1366 Main St
- Property type
- Lifestyle centers, Power centers
- Square Feet
- 202,228 SF
- Year Built
- 1980
- Lot Size (sq. ft)
- 1,185,268 SF
Location Insight
- City
- Adrian
- County
- Lenawee
- State
- Michigan
- Latitude
- 41.8793413
- Longitude
- -84.0455382
1366 Main St, Adrian, Michigan
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