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Biggby Coffee 275 S State St 4,246 SF 100% Leased Retail Building Sparta, MI 49345 $1,400,000 ($329.72/SF) 8% Cap Rate
Executive Summary
This property is a high-yield, multi-tenant retail investment located in a prime commercial pocket of Sparta, Michigan. Positioned on the busy South State Street corridor, it benefits from strong visibility and a diverse, recession-resistant tenant mix. This multi-tenant retail center offering a rare 8% cap rate in a tightening market. The property is anchored by three highly recognizable and stable tenants: Biggby Coffee, Miller Orthodontics, and Edward Jones. It offers a balanced mix of daily-needs retail and professional services, ensuring consistent foot traffic and long-term tenant retention.
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,246 SF
Building Class
C
Year Built
2018
Price
$1,400,000
Price Per SF
$329.72
Cap Rate
8%
NOI
$112,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.08
Lot Size
1.26 AC
Zoning
GC - General Commercial
Parking
20 Spaces (4.71 Spaces per 1,000 SF Leased)
Frontage
66’ on State St
Amenities
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | 41-05-22-282-018 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $405,200 |
Property Taxes
Parcel Number
41-05-22-282-018
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$405,200
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Biggby Coffee | 275 S State St
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