124 Front

Retail-Commercial for Sale
Catylist Listing ID: 30761164
Property Subtypes: Free-Standing Building
Building Size (RSF): 28,570 SF
Gross Building Area: 25,485 SF
Gross Land Area: 1.70 Acres
Sale Price: $250,000
Unit Price: $8.75 PSF
Ceiling: 18 ft.
Property Use Type: Investment, Business
Usable Size (USF): 28,570 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/14/2021

Overview / Comments

This property was recently used as a grocery store. The property has been vacant for several years. This parcel sits on the Northeast corner of the central business district of Adrian, MI.

Huge potential with this property. Great parking and the property is adjacent to city owned municipal parking lot. Property has a mezzanine level that includes a mechanical area, restrooms and employee break room.

Additional Details

Nearest MSA: Adrian
County: Lenawee
Taxing Authority: City of Adrian
Tax ID/APN: XA0-000-0107-01
Zoning: C-1
Retail Clientele: General, Family, Business, Recreation, Other
Property Located Between: East of Chomp Burger
Largest Nearby Street: North Main St.
Feet of Frontage: 306
Traffic/Vehicle Count: 5,000
Highway Access: US 223 Business M52
Airports: Lenawee County Region Airport; Ann Arbor Municipal Airport; Toledo Express Airport
Site Description: This property features a large parking area. It has a prominent location in the city's business district.
Area Description: City of Adrian is approx 7 sq. miles. The population is approximately 20,000. In the last 10 years, there has been a huge amount of investment in the central business district in Adrian. Prominent businesses include the Croswell Opera House, Rice and Barley Tap House, Hooligans Grill, Mammoth Distilling, Dempsey's, Buzz Cafe, Copper House Coffee, Chaloner's Cigar House, Sauce Italian Grill and Pub, Adrian Armory and Event Center, with two breweries are in the works and many other up and coming attractions.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Fair
Year Built: 1956
Year Renovated: 2001
Roof Type: Flat
Construction/Siding: Block
Exterior Description: Common Block construction
Total Parking Spaces: 50
Parking Type: Surface
Parking Description: Asphalt
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Radiant
Air Conditioning: Package Unit
Internet Access: DSL
Interior Description: A large open floor plan with supporting columns. Features reception/office space in the front and an elevated serving counter in the back which was utilized as a pharmacy previously. The single stair case leads to the mezzanine area which includes mechanical area, restrooms, and additional room.
Zoning Description: General Commercial
Lot Frontage: 306
Lot Depth: 271
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Private owned
Legal Description: LOT 100 EX S 69.5 FT AND LOT 101 EX S 69.5 FT OF W 1/2 & EX S 21 FT OF E 1/2 AND LOT 102 EX S 21 FT AND LOT 103 & W 47.5 FT LOT 104 ORIGINAL PLAT. ALSO THE W 24FT OF LOT 107 ORIGINAL PLAT. EXCEPTING ALL THAT PART OF LOTS 103 AND 104, SAID PLAT OF THE VILLAGE (NOW CITY) OF ADRIAN, ACCORDING TO THE PLAT THEREOF AS RECORDED IN LIBER D OF DEEDS, PAGE 578, LENAWEE COUNTY RECORDS, DESCRIBED AS COMM ON THE SOUTHERLY LINE OF LOT 104, AFORESAID, AT A POINT LOCATED 16.50 FT N 64^00" W FROM THE SE COR OF SAID LOT 104, AND RUNNING TH N 64^00"W ALONG THE SOUTHERLY LINE OF LOTS 103 AND 104, 86.12FT; TH N 25^42'E 21.0FT; TH S 64^00'E 86.38FT; TH S 26^24'W 21.0FT TO THE POB.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,097 28,796 40,189
Median Age: 34.14 35.85 37.52
Households: 3,801 9,904 14,211

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