1366 Main StAdrian, MI 49221

Property Details for 1366 Main St

Year built

1980

Lot size

27.21 AC

Property size (Sq ft)

202,228 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional 202,228 square foot shopping center in Adrian, Michigan presents a compelling investment opportunity. Located at 1366 S Main St, 49221, this multi-tenant property boasts a strong lineup of national brands including Planet Fitness, Harbor Freight, Staples, Family Farm & Home, Ivy Rehab for Kids, and Sherwin Williams. Built between 1980 and 1993, the center sits on a substantial 27.21-acre lot and is zoned for commercial use. Currently operating at 74.35% occupancy, the property offers significant upside potential for increased revenue. The asking price is $11,832,125, representing a price per square foot of $58.51 and an attractive 8.00% cap rate. The Net Operating Income (NOI) is $946,570. This dominant market center presents a rare chance to acquire a well-positioned asset priced below replacement cost, with strong tenant interest and opportunities to reduce the project basis and further enhance profitability. The property's lease type is NNN, offering a passive income stream. This is a value-add opportunity with considerable potential for long-term growth and return on investment.

Location Insight

City

Adrian

County

Lenawee

State

Michigan

Latitude

41.8793

Longitude

-84.0455

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].