Strip Center in Gladwin–Family Dollar + Three Tenants

Shopping Center for Sale
Catylist Listing ID: 30844032
Property Subtypes: Free-Standing Store, Mixed Use, Neighborhood Center, Strip Center, Other
Building Size (RSF): 20,000 SF
Gross Building Area: See Agent
Gross Land Area: 1.75 Acres
Sale Price: $675,000
Unit Price: $33.75 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Business
Building Name: Family Dollar
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/15/2023

Overview / Comments

Great opportunity for any investor. Approximate 9% cap rate on this 4 tenant plaza with long time Family Dollar as the anchor occupying 12,000 SF. Plenty of parking and great visibility. Please call for further details.

Financials

Finance Data Year 2023
Real Estate Taxes - Annual($) $18,587 (Annual)
Tax Value Land $327,250
Assessed Value - Total($) $401,100 (Annual)

Additional Details

Nearest MSA: Bay City
County: Gladwin
Taxing Authority: City of Gladwin
Tax ID/APN: 170-030-002-001-01
Zoning: C-2 SERVICE COMMERCIAL
Retail Clientele: General, Family, Business, Tourist, Recreation
Property Visibility: Excellent
Highway Access: M -61
Airports: Gladwin
Property Condition: Good
Year Built: 1989
Roof Type: Gable
Construction/Siding: Block, Brick
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Zoning Description: C-2--Service Commercial
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned
Legal Description: GLADWIN CITY MAP OF BUSCH ADD BLK 2 PART OF LOTS 1-2-3-4 & BLK 3 PART OF LOTS 1-6-7-8 DESC AS BEG S 88DEG 57MIN 42SEC E ALONG N LINE OF GROUT ST 149.65FT FROM SW COR OF LOT 2 BLK 1 OF TOWNSEND & CLARKS ADD TH N 33DEG 44MIN 18SEC E 160.56FT TH N 12DEG 7MIN 18SEC E 76.70FT TH N 1DEG 52MIN 18 SEC E 70.34FT TO S LINE OF CEDAR ST TH S 89DEG 2MIN E 171.11FT TO NE COR OF LOT 1 BLK 2 TH S 16 DEG 6MIN 14SEC E 61.35FT TH S 3DEG 56MIN 16SEC E 256.27FT TO CENTER OF VACATED GROUT ST TH N 88DEG 57MIN 42SEC W ALONG SD CENTERLINE OF SD VACATED GROUT ST 335.06FT TH N 33DEG 44MIN 18SEC E 39.22FT TO POB TOGETHER WITH EASEMENTS AS REC

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,601 9,624
Median Age: 41.94 42.6
Households: 1,881 3,761

Contact

Photograph of Listing Agent

Sandra J. Covaleski, CCIM

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