Dowagiac Retail Center

Shopping Center for Sale
Catylist Listing ID: 30153175
Property Subtypes: Grocery-Anchored, Neighborhood Center, Net Leased, Strip Center
Building Size (RSF): 22,380 SF
Gross Land Area: 68,494 SF
Sale Price: $1,015,000
Unit Price: $45.35 PSF
Ceiling: 14 ft.
Property Use Type: Net Leased Investment (NNN), Investment
Usable Size (USF): 22,380 SF
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Average Occupancy Rate: 100
Last Updated: 9/17/2017

Overview / Comments

Newer neighborhood center in Dowagiac, MI. Grocery store anchor tenant (Save-A-Lot) on long-term lease w/ options. Two units, both occupied. Property features ample parking, with each tenant having their own entrances, service entrances, and loading wells. Premier frontage on one of Dowagiac's main roads, within blocks of downtown. Property is located adjacent to the local Secretary of State.

Additional Details

Nearest MSA: South Bend-Mishawaka
County: Cass
Taxing Authority: Dowagiac City
Tax ID/APN: 1416020079102
Retail Clientele: General, Family
Property Visibility: Excellent
Largest Nearby Street: N Front St.
Feet of Frontage: 264
Traffic/Vehicle Count: 7,500
Airports: Dowagiac Municipal Airport
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 2004
Construction/Siding: Block
Exterior Description: Metal roof. Block Construction.
Parking Type: Surface
Total Parking Spaces: 92
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Lot Frontage: 264
Lot Depth: 264
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 2002 LOTS 209 210 211 212 225 226 227. ALSO LOT 228 EX S 10 FT. DANIEL M MCOMBER'S ADDITION CITY OF DOWAGIAC

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,715 9,270 14,638
Median Age: 33.9 36.15 39.82
Households: 1,451 3,622 5,737


Photograph of Listing Agent

Nate Brussee

West Michigan Realtors
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