1416-1424 S Main St - Retail FOR SALE
Adrian, MI 49221 |
1416-1424 S Main St
Adrian, MI 49221
HIGHLIGHTS
- 79% Occupied, 202,228 SF Regional Shopping Center in Adrian, MI. Upside via Prime Junior Box Leasing Opp– 27,679 SF Adjacent to Planet Fitness
- Anchored by Family Farm & Home, Staples, Planet Fitness & Harbor Freight Tools who Collectively Occupy 62% of the Leased GLA & Contribute 46.7% of EGI
- Offered with Attractive, Assumable Non- Recourse Financing – 67.4% LTV, 4.6% IR, 6/2025 Maturity, 30-Yr AM
- Priced Well-Below Replacement Cost at $63/SF with Cheap/Replaceable Rents Averaging $7.80/SF
- Offers Year 1 Cash-on-Cash Return of 9.6% and 14.7% Total Return on Existing Assumable 67.4% LTV Non-Recourse Financing
- Potential to Execute Parcelization/Break- Up Strategy – Offering Includes Two Large Inline Strips, Two Outparcel Strips, & Two Single-Tenant Buildings
FOR SALE DETAILS
PRICE
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CAP RATE
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% LEASED
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TENANCY
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BUILDING DETAILS
PROPERTY NAME
Adrian Crossroads | Value-Add at 79% Occ
PROPERTY TYPE
Retail
TOTAL BUILDING SIZE
202228
STORIES
1
YEAR BUILT
1980
SPRINKLERS
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PARKING SPACES
300
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
XA0-752-0010-04,XA0-752-0010-05
