$2,350,000
Cadillac, MI 49601
MLS# 26002162
47945 sqft
1 / 35
Property Description
Joe McNally and RE/MAX Together are pleased to offer The Mitchell Street Mall in Cadillac, MI. This is a 91% leased stable asset, that offers an investor the rare opportunity to acquire a well constructed and maintained multi tenant retail center at almost a 20 percent Cash-on-Cash Return and a current 8+ cap rate, with tremendous upward opportunity through the one vacant unit, an anchor store sized 25,000 square feet unit ready for investors or delevopers to step into as a turn-key major store space, complete with commercial loading docks, inventory space, and storage areas (previously JC Penny). This incredible location is set in the heart of one of Cadillac's most highly traffic corridors. Annual gross incomes exceed $270,000, with enormous upward potential. Most units have been recently renovated and built out, and have long term leases in place with stable businesses in place. This is a hard-to-find investment opportunity, call today for more information.
Details
Maps
Location Property Info
County: Wexford
Street #: 1508
Street Direction: N
Street Name: Mitchell
Suffix: Street
State: MI
Zip Code: 49601
Area: Paul Bunyan - P
OfficeContract Info
Status: Active
Current Price: $2,350,000
List Price: $2,350,000
Listing Date: 2026-01-18
General Property Info
New Construction: No
Lot Measurement: Acres
Lot Acres: 8.94
Lot Square Footage: 389426
Lot Dimensions: Irregular
Year Built: 1980
Road Frontage: 54
Total # Units: 11
# Fin Bldg Lvls: 47945
Total # Bldgs: 1
Total SqFt: 47945
Full Baths: 15
Waterfront: No
School District: Cadillac
Tax Info
Tax ID #: 2209-28-4202
Taxable Value: 678254
SEV: 844100
For Tax Year: 2025
Seller's Annual Property Tax: 34004
Tax Year: 2024
Spec Assessment & Type: None Known
Remarks Misc
Directions: From Big Rapids, North on 131 to Cadillac, Near Cadillac's busy North end. Corner of Mitchell St. and Bell Ave.
Additional Details
# Loading Docks/Well: 3
Total Parking Spaces: 200
Unit 1
Unit Description: Natural wellness
SqFt: 1250
Occupied: Yes
Rent $/Month: 1100
# Baths: 1
Unit 2
Unit Description: State Farm
SqFt: 1250
Occupied: Yes
Rent $/Month: 1249
Unit 3
Unit Description: Growers Edge
SqFt: 5000
Occupied: Yes
Rent $/Month: 2500
Unit 4
Unit Description: Independant Living
SqFt: 3000
Occupied: Yes
Rent $/Month: 2472
Unit 5
Unit Description: Merchandise Outlet
SqFt: 7700
Occupied: Yes
Rent $/Month: 3500
Unit 6
Unit Description: Anchor Store
SqFt: 22635
Occupied: No
Unit 7
Unit Description: Gordons Food Service
SqFt: 1200
Occupied: Yes
Rent $/Month: 1434
Unit 8
Unit Description: Lights Out
SqFt: 1200
Occupied: Yes
Rent $/Month: 1100
Unit 9
Unit Description: Grondins Hair
SqFt: 1200
Occupied: Yes
Rent $/Month: 1380
Unit 10
Unit Description: Top Nails
SqFt: 1200
Occupied: Yes
Rent $/Month: 1600
Unit 11
Unit Description: Cantina Bamba
SqFt: 2310
Occupied: Yes
Rent $/Month: 2300
Property Features
Property Use: Business; Investment; Net Leased (nnn)
Uses: Professional Service; Professional/Office; Restaurant; Retail
Business Includes: Real Estate
Construction Type: Concrete; Steel
Exterior Material: Brick
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Electricity Connected; Natural Gas Connected
Util Avail at St: Cable Available; Electricity Available; High Speed Internet; Natural Gas Available; Phone Available
Heat Source: Natural Gas
Heat Type: Forced Air
Air Conditioning: Central Air
Driveway: Paved
Street Type: Paved; Public
Purchase Terms Avail: Cash; Conventional
Sale Conditions: None
Unit 1: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water
Unit 2: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water
Unit 3: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water
Unit 4: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water
Unit 5: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water
Unit 7: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water
Unit 8: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water
Unit 9: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water
Unit 10: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water
Unit 11: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water
Listing Office: RE/MAX TOGETHER
Listing Agent: Joseph McNally
Last Updated: January - 19 - 2026
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