Aaron’s Plaza Mt. Pleasant, Michigan

$1,432,000
Cap Rate: 8.85%
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 8.85%
NOI: $126,732
Building Size: 15,600 sq. ft.
Lot Size: 0.92 Acres

Address:

801-802 Palmer Street
Mt. Pleasant, MI 48858

Marcus & Millichap is pleased to present this 15,600 square foot shopping plaza in Mount Pleasant, Michigan. The center is currently occupied by Aaron’s, GameGo, Check Into Cash, and Batteries Plus. There is one vacancy of 1,000-square feet, or 6.4% of the GLA. All leases are triple-net, reimbursing for CAM, taxes and insurance. The property is located on North Mission Street, a high traffic road that fronts Central Michigan University. The university and campus housing is approximately one and one-half miles south of the subject property. One block north is the intersection of Pickard Road, the primary east-west corridor. Nearby retailers and restaurants include: Meijer, Advance Auto Parts, Walgreens, Culver’s, McDonald’s and Tim Hortons.

Mount Pleasant, Michigan is home to Central Michigan University (26,000 student enrollment), a 125-year old institution which ranks among the nation’s 100 largest public universities. Business route US-127 runs directly through the city, making the subject property very accessible and highly traveled. Major employers in Isabella County are Saginaw Chippewa Tribe (d/b/a Soaring Eagle Casino), Central Michigan University, McLaren Central Michigan Hospital, and Delfield.

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