Soo Plaza
Established Retail and Long-Term Tenant Commitments
Marketing description
SOO PLAZA, located at 3356–3396 I-75 Business Spur, Sault Ste. Marie, MI 49783, is a compelling value-add retail investment opportunity in one of the Upper Peninsula’s primary commercial corridors. This 71,108 SF shopping center offers exceptional visibility along I-75 Business Spur with traffic counts of 15,600+ vehicles per day and is positioned less than two miles from I-75.
Anchored by Arona and supported by a diverse tenant mix including Best Mattress, Sault Vision, #1 Nails, and the U.S. Army Corps of Engineers, the plaza combines in-place income with significant upside. The property is currently 30% vacant, with 21,823 SF available across six suites, creating a strong opportunity to increase NOI through lease-up.
The center benefits from ample parking, recent capital improvements including new HVAC units, and strong surrounding retail traffic from nearby national brands such as Walmart, Hobby Lobby, T.J. Maxx, Five Below, and Buffalo Wild Wings. Adding to the long-term appeal, the property includes approximately 7.10 acres of additional land behind the building for potential future development or expanded use.
Investment highlights
- 71,108 SF Retail Center Built in 1980 | Located Along 75 Business Spurr Averaging 15,600+ VPD
- Recent Capital Expenses Include 2 New HVAC Units for Arona
- Shopping Plaza Averages 180K+ Visits per year | Anchored by Arona
- 30% Vacancy Across Six Suites | Value Add Opportunity to Increase NOI by Leasing 21,825 SF Available
- Established Retail and Long-Term Tenant Commitments | Many with Renewals
- Easily Accessible and Excellent Visibility | Less than 2 Miles from I-75
- Ample Parking on site for Customers and Staff
- Along Major Shopping Corridor | Nearby Retailers Include Walmart, Hobby Lobby, Five Below, T.J. Maxx, Ulta Beauty, Buffalo Wild Wings, Circle K, McDonald's, UHaul, Pet Supplies Plus, and Many More
- Surrounded by Hotels and Inns such as Hampton Inn, Super 8, The Inn Sault Ste. Marie, Americas Best Value Inn, Comfort Inn and More
- The Soo Locks in Sault Ste. Marie attracts approximately 500,000– 600,000 visitors annually to the viewing platform and visitor center
- The Sault Ste. Marie International Bridge is the only international border crossing between Michigan and Ontario for approximately 700 miles, carrying approximately 3,000 to 4,000 vehicles per day
- Additional Land for Development or Use Behind Building | Approximately 7.10 Acres | Contact City for Potential Use
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
