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$ 420,000
Est. payment | /mo
8,385 SqFt
$ 420,000
Est. payment | /mo
8,385 SqFt
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 8,385 sqft
Price per Sqft $50
Subdivision Mi
MLS Listing ID 80059528
Year Built 1994
Lot Size 9,583 Sqft
Acres 0.22
Lot Dimensions 75x125
Property Sub-Type Commercial/Industrial
Property Description
The property at 219 N Mitchell Street in downtown Cadillac presents a compelling and turn-key investment in a thriving and up and coming market. Built in 1994, this one-story, Class C commercial building offers nearly 8,000 square feet of versatile space, with 71 feet of prominent street frontage and an exterior loading dock- features that support a wide range of retail or office uses. Currently fully leased to established tenants, this building delivers dependable monthly income backed by a proven rental history. The existing businesses are not for sale; instead, the option exists to purchase the building alone, with businesses continuing their operations and expressing a strong desire to remain in place. This arrangement ensures a seamless transition and consistent cash flow from day one. Designed with two separate lease units, the property offers strategic flexibility. An investor could maintain current tenancy, occupy one unit while leasing out the other, or reposition the layout to attract new tenants. Its configuration supports both retention and value-add potential. Situated on Cadillac’s main commercial corridor, the building benefits from steady foot traffic drawn by downtown shopping, dining, and community events. This walkable district, anchored by specialty food shops, boutiques, and entertainment venues, enhances visibility and drives customer engagement for tenants. With solid foundational income already in place, this property offers a rare opportunity to increase returns through thoughtful upgrades, rental rate adjustments, or rebranding efforts. In summary, 219 N Mitchell Street is an attractive, fully leased, income-generating asset ready for a savvy investor to step in and build upon an already successful framework.
Location
State MI
County Wexford
Area Cadillac (83019)
Zoning Commercial
Interior
Heating Forced Air
Exterior
Parking Features Parking Lot
Building
Water Public Water
Structure Type Steel
Others
Ownership Corporation
Energy Description Natural Gas
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by City2Shore Real Estate Northern Michigan