Offering Memorandum

Investment Sale

Fort Gratiot Plaza

4025 24th Ave
Fort Gratiot, Michigan

eCode:071i

Sales Price

$10,200,000

NOI

$904,495

Cap Rate

8.87%

Building Size

86,923 SF

Lot Size

8.08 AC

Year Built

1980 / 1999, 2015, 2016, 2017

Tenant Roster

  • CSL Plasma
  • Harbor Freight
  • Salvation Army (Coming Soon)
  • Lawrence Jewelers
  • Gander Mountain (Dark)

Traffic Count

24th Ave (26,614 CPD)
Krafft Rd (7,369 CPD)

Highlights

  • Value-Add Opportunity
  • Strong Credit Tenant Line-Up
  • Priced Well Below Replacement Cost / Below Market Rents
  • Stable Tenancy & Income Stream
  • CAPEX Improvements
  • Regional Mall Location/Barriers to Entry

Radius 1 mile 3 mile 5 mile
Population Density 4,370 24,763 48,948
Household Income $89,737 $96,579 $85,637
Daytime Pop 3,938 9,542 23,854

SIMILAR PROPERTIES

Single-Tenant
408 W Maumee St
Adrian, Michigan

$1,732,143 | 19,833 SF
Multi-Tenant
1830-1879 172nd Ave
Grand Haven, Michigan

$4,287,781 | 31,034 SF
Multi-Tenant
8747-8751 Brecksville Rd
Brecksville, Ohio

$3,213,174 | 10,603 SF
Single-Tenant
18555 Silver Pkwy
Fenton, Michigan

$2,476,190 | 8,160 SF

Offering Memorandum

Confidentiality Agreement*

Download Agreement