SOO PLAZA
Value Add Retail Plaza For Sale
Marketing description
Sault Ste. Marie, Michigan, often called "the Soo," is the oldest city in Michigan and one of the oldest settlements in the Midwest, founded in 1668 by French missionaries. Located at the northeastern tip of Michigan's Upper Peninsula, it sits along the St. Marys River, which forms the international border with Ontario, Canada. The city's strategic position made it historically important for trade, fishing, and shipping, and it remains a vital link between Lake Superior and the lower Great Lakes.
The most famous feature of Sault Ste. Marie is the Soo Locks, one of the world's busiest canal systems, which allow massive freighters to navigate between Lake Superior and Lake Huron. Thousands of ships pass through annually, carrying raw materials like iron ore and grain, making the locks not only an engineering marvel but also an essential part of North America's shipping network. Tourism thrives around this attraction, along with nearby outdoor recreation such as boating, fishing, snowmobiling, and exploring the surrounding forests and waterways.
Today, Sault Ste. Marie blends small-town charm with a rich cultural heritage. It is home to Lake Superior State University, museums, and cultural festivals that celebrate both Native American and French-Canadian traditions. The community has a strong connection to its natural surroundings, offering residents and visitors access to year-round outdoor activities. With its historical significance, unique location on the border, and balance of industry and recreation, Sault Ste. Marie stands out as both a cultural landmark and a gateway to Michigan's Upper Peninsula.
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
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