For Sale: Investment – Retail Strip Big Rapids – 544-550 S State St.

Great investment opportunity in Big Rapids, Michigan-Near Ferris State University!

Call listing broker Mark Baker at 616-299-4146 to schedule a showing.

Property Subtypes:	Community Center, Neighborhood Center, Outlet Center, Regional Mall, Strip Center
Building Size (RSF):	5,200 SF
Gross Land Area:	28,348 – 23,348 SF
Sale Price:	$524,900
Unit Price:	$100.94 PSF
Property Use Type:	Net Leased Investment (NNN), Investment, Business
Building Name:	Mancinos Pizza, Tracy’s Hair Salon, Boost Mobile, Rise Smokeshop
Usable Size (USF):	5,200 SF
Sale Terms:	Cash to Seller
Cap Rate:	8.5%
Average Occupancy Rate:	95
Last Updated:	12/1/2018

Overview / Comments

Prime retail location with excellent occupancy history in the heart of Big Rapids. Recent upgrades include, roof, parking lot lights, separately metered gas & electric

Additional Details

Nearest MSA:	Big Rapids
County:	Mecosta
Taxing Authority:	City of Big Rapids
Tax ID/APN:	54-17-15-279-021
Zoning:	C-3
Retail Clientele:	General, Family, Recreation
Property Visibility:	Fair
Feet of Frontage:	186
Highway Access:	US-131 about 1 mile east to Exit 139
Airports:	Mecosta County Airport 2 miles north
Site Description:	NW Corner of S State St & Spring St. Curb cut from both streets.
Area Description:	Immediately north of new O’Reilly’s Auto Parts, Wendys, Taco Bell, Subway. Between Downtown and Ferris State University. High Visibility location.
Total Number of Buildings:	1
Number of Stories:	1
Typical SF / Floor:	5,200 SF
Property Condition:	Excellent
Year Built:	1993
Year Renovated:	2017
Roof Type:	Gable
Construction/Siding:	Brick, Wood Siding
Exterior Description:	Sloped roof total tear off & replacement in 2017. Lower brick with wood siding above, glass retail.
Parking Type:	Surface
Parking Description:	Typical park at the door retail strip
Sprinklers:	None
Heat Type:	Natural Gas
Air Conditioning:	Package Unit
Internet Access:	Cable
Interior Description:	Typical retail space
Zoning Description:	Commercial
Lot Frontage:	186
Lot Depth:	144
Water Service:	Municipal
Sewer Type:	Municipal
Legal Description:	SEC 15, T15N, R10W – BEG ON THE W LI OF S STATE ST 225 FT S OF SE COR OF LOT 7 OF STIMSON’S ADDITION; TH W 148.5 FT; TH S TO N LI OF BLK 8 OF CLARK AND FULLER’S ADDITION; TH E 148.5 FT TO W LI OF S STATE ST; TH N TO POB ALSO THAT PART OF CLARK AND FULLER’S ADDITION — BLK 8, THE E 1/2, EXC BEG AT THE SE COR OF SD BLK 8, TH W 5 FT ALG BLK LI, TH NE’LY TO A PT ON E BLK LI 5 FT N OF POB, TH S 5 FT ALG BLK LI TO POB.