1325 Main StAdrian, MI 49221

Property Details for 1325 Main St

Year built

2008

Lot size

2.18 AC

Property size (Sq ft)

13,205 SF

Zone code

B-2

Property type

Other commercial real estate

APN

XA0-100-0314-00

APU

XA0100031400

Description

North Town Commons, a 13,200 square foot shopping center in Adrian, Michigan, presents a compelling investment opportunity. This stabilized, 100% occupied, multi-tenant property boasts a 7.34% cap rate and a strong NOI of $161,557. Built in 2008 and featuring 50 parking spaces, the center benefits from a recent parking lot upgrade (August 2024). Seven tenants, including a regional credit union (TLC Community Credit Union), a medical practice (Dr. Martin's Foot & Ankle), Edward Jones, a drive-thru restaurant (Knights in Shining Aprons), AAA, and Sprouts 3D Physical Therapy, occupy the space under NNN leases with CAM charges. The property features three drive-ups, two curb cuts, and potential for six additional parking spaces. The asking price is $2,200,000, translating to $166.67 per square foot. Several tenants have rent bumps built into their leases. The property is zoned B-2 and has a total of eight units. This well-maintained shopping center offers a secure and profitable investment with long-term tenants and a high occupancy rate. The property's location at 1325 N Main St, Adrian, MI 49221, ensures high visibility and accessibility. APN: XA0-100-0314-00.

• Alternative Use

  Use

  Valuation

  Residential

  $2,587,445

  Hospitality

  $2,370,086

  Educational

  $1,971,884

  Medical

  $2,039,700

  Retail

  $3,067,374

Location Insight

City

Adrian

County

Lenawee

State

Michigan

Latitude

41.9131

Longitude

-84.0271

CBSA code

10300

CBSA name

ADRIAN, MI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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