117 N Mitchell Street
COMMERCIAL INVESTMENT PROPERTY (9.81% CAP RATE) IN DOWNTOWN LOCATION
Marketing description
Situated in the heart of downtown Cadillac, the Kramer Building enjoys a prime location within the city's vibrant commercial core. This central setting places it just steps from Lake Cadillac, the City Park, and a wide array of restaurants, boutiques, and professional services that make up Cadillac's thriving Downtown Development Authority (DDA) district. The area is a hub of year-round activity, drawing steady foot traffic from locals, tourists, and professionals alike. Tenants and visitors benefit from exceptional accessibility, with ample on-street parking at the front entrance and direct access to a large public parking lot at the rear of the property. The location also provides convenient proximity to major roadways, including US-131 and M-115, ensuring easy regional connectivity for both commuters and customers. This downtown address offers not only excellent visibility and walkability but also a connection to Cadillac's growing business community—making it an ideal location for professional offices, retail, and service oriented businesses seeking a prestigious and accessible downtown presence.
Investment highlights
- High Quality Investment Property - Over 12,000 SF of leasable area across three floors. Current cap rate = 9.81%
- Stable long-term tenants - Fully leased building with mix of six retail and office tenants.
- Turnkey Investment Opportunity - Minimal landlord investment required.
- Meticulously Maintained - Recent upgrades include new electrical, flooring, paint, and mechanical systems while preserving original character.
- Modern Building Systems - Each suite is individually metered for gas and electric and equipped with its own heating and cooling.
- Architectural Appeal - Many suites feature exposed brick walls, tall ceilings, and large windows with natural light and lake views.
- Full ADA Accessibility - Modern elevator provides access to all three floors from both front and rear entries—rare in historic buildings.
- Excellent Parking & Access - On-street parking at the front door plus direct access to a large public parking lot at the rear.
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