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31479652
31479656

E Blue Grass Road, Mt. Pleasant, MI 48858 For Sale

AB
MI 6​5​0​1​4​4​9​4​9​4
Mid-America Real Estate - Michigan, Inc.
EB
MI 6501412484
Mid-America Real Estate - Michigan, Inc.
Listed by Mid-America Real Estate - Michigan, Inc.
$450,000
121 days on market
Updated 7 days ago

Union Shoppes

Details
Property Type Land
Sub Type Commercial, Strip center
Square Footage 29,799
Cap Rate 7.50%
NOI $492,999
Occupancy 83%
Tenancy Vacant
Class A
Year Built 2005
Acreage 0.920
Zoning B-5, Highway Business District
Ownership Fee Simple

Union Shoppes - Strip Center - Mt. Pleasant, MI - Strong Tenant Retention w/ Value Add Upside

Marketing description

The subject property is a vacant land outparcel to Walmart within the primary retail trade area of Mt. Pleasant, Michigan. Parcel B presents an exceptional development opportunity for retailers, restaurants, and speculative developers seeking a presence in one of the area's most active commercial corridors. With frontage along E. Blue Grass Road, home to numerous national retailers, the site offers outstanding visibility and exposure for tenants looking to capitalize on strong consumer traffic.

Mt. Pleasant is a charming and vibrant city located directly in the epicenter in the state of Michigan. The city holds the county seat of Isabella County and is a popular year-round destination for the local population, tourists, and many people who vacation in Michigan. With over 1,00 acres of parkland, 19 nature preserves, and the Chippewa River, the city offer a recreational outdoor activities. Mt. Pleasant is also home to a number of campgrounds, as well as 13 golf courses including Bucks Run Golf Club, PohlCat Golf Course, and The Pines Golf Course.

The city features a number of entertainment hot spots, including Soaring Eagle Casino & Resort, the Broadway Theatre, Mt. Pleasant Speedway, Hunter's Ale House, as well as Central Michigan University's number of sporting events. CMU's Kelly/Shorts Stadium is the largest on-campus stadium in the Mid-American Conference. The university is home to more than 14,000 students and brings together alumni, family, and fans of CMU from around the country. Soaring Eagle Casino & Resort is a major entertainment hot spot offering slot machines & gaming tables, multiple dining locations, and a variety of outdoor concerts and indoor shows year-round. The casino features the largest gaming floor in Michigan, bringing in 2.6 million annual visitors.

Investment highlights

    • Easy access to major retailers such as Walmart, Sam’s Club and Menards.
    • Mt. Pleasant is home to Central Michigan University which provides many customers for the retail centers in the market.
    • Site has great visibility and frontage along E. Blue Grass Road, as well as a traffic-controlled intersection.
    • Newer build with attractive brick facade helps attract tenants to the center.
    • Existing vacancy provides upside potential for increasing NOI
    • Parking: Surface lot

    Listing Contacts

    AB
    MI 6​5​0​1​4​4​9​4​9​4
    Mid-America Real Estate - Michigan, Inc.
    EB
    MI 6501412484
    Mid-America Real Estate - Michigan, Inc.
    Listed by Mid-America Real Estate - Michigan, Inc.

    Valuation Calculator

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    $
    $
    %
    Loan Amount
    $0.00
    Annual Debt Service
    $--
    $--
    Annual Cash Flow
    $492,999.00
    $41,083.25/mo

    Valuation Metrics

    0
    DSCR
    109.56%
    Cap Rate
    109.56%
    ROI

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    Additional Information

    Name
    Andrew Bell
    License
    6​5​0​1​4​4​9​4​9​4
    Brokerage
    Mid America Real Estate
    Brokerage Phone
    2488556800
    Title
    Broker
    Name
    Eric Birnholtz
    License
    6501412484
    *All information is deemed reliable but not guaranteed. Buyer to verify all information.
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