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Bear River Center 105 W Mitchell St 9,880 SF 100% Leased Retail Building Petoskey, MI 49770 $1,950,000 ($197.37/SF) 8.14% Cap Rate
Executive Summary
Three-tenant, 9,880 SF plaza anchored by West Marine (opened 1998). Located on US-31 Hwy. three blocks from historic Gaslight District of downtown Petoskey. One-half mile from new Panera, McLaren Hospital, Bayfront Park and Marina.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
9,880 SF
Building Class
C
Year Built
1990
Price
$1,950,000
Price Per SF
$197.37
Cap Rate
8.14%
NOI
$158,715
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.30
Lot Size
0.76 AC
Zoning
C - Commercial
Parking
40 Spaces (4.05 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Tenant Controlled HVAC
- Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 52-19-06-202-072 | Improvements Assessment | $0 |
| Land Assessment | $989,600 | Total Assessment | $989,600 |
Property Taxes
Parcel Number
52-19-06-202-072
Land Assessment
$989,600
Improvements Assessment
$0
Total Assessment
$989,600
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Bear River Center | 105 W Mitchell St
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