302-306 S Cedar St 3,700 SF 100% Leased Retail Building Mason, MI 48854 $499,000 ($134.86/SF) 8.32% Cap Rate

302–306 S. Cedar Street presents an opportunity to acquire a fully leased, two-unit retail investment in the heart of downtown Mason, Michigan. The property consists of approximately 3,700 square feet situated on 110 feet of frontage along Cedar Street, Mason’s primary commercial corridor, with convenient access to US-127 (Exit 66).
The building is occupied by two established local tenants—Ruff Cuts Pet Grooming and Every Day Tobacco—both with strong operating histories and consistent rent payment performance. The leases are structured as modified gross with expense pass-throughs, providing reliable income with limited landlord responsibility.
At the asking price of $499,000, the property offers a $41,520 NOI and an attractive 8.32% cap rate, making it a compelling cash-flowing investment in a supply-constrained downtown market. Recent capital improvements include approximately $47,500 in new HVAC systems installed in 2025, significantly reducing near-term capital expenditure risk.
With short-term lease rollover, the asset also offers future rent growth or owner-occupant upside, making it well-suited for private investors, 1031 exchange buyers, or owner-users planning future occupancy.