Log In/Sign Up
Your email has been sent.
Hazel Park Plaza 3 Retail Properties Offered at $1,000,000 in Clio, MI
Investment Highlights
- 11 retail/office suites in 3 buildings totaling 20,992 square feet
- Adjacent to the VG’s Grocery center
Executive Summary
Hazel Park Plaza consists of 11 retail/office suites in 3 buildings totaling 20,992 square feet on S. Mill St adjacent to the VG’s Grocery center. The buildings were built in 1996, 2001 and 2003 and situated on a total of 1.685 acres. This neighborhood shopping center is in excellent condition and has been well maintained. Tenants consist of mostly local operators with a couple franchises including; Edward Jones, Hungry Howie’s, Brough Bakery, The Oak Nutrition, Shaggy Chic Boutique, A&M Oriental Grocery, Marque Engraving, Medical Clinic, and Octane Salon taking 2 suites. Tenants are currently paying gross rent well under the market rate as shown in our rent comps study.
Taxes & Operating Expenses (Pro Forma - 2022) |
Annual |
|---|---|
| Gross Rental Income |
$112,920
|
| Other Income |
$3,811
|
| Vacancy Loss |
$3,387
|
| Effective Gross Income |
$113,344
|
| Taxes |
$40,926
|
| Operating Expenses |
$15,183
|
| Total Expenses |
$56,109
|
| Net Operating Income |
$57,235
|
Taxes & Operating Expenses (Pro Forma - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $112,920 |
| Other Income | |
|---|---|
| Annual | $3,811 |
| Vacancy Loss | |
|---|---|
| Annual | $3,387 |
| Effective Gross Income | |
|---|---|
| Annual | $113,344 |
| Taxes | |
|---|---|
| Annual | $40,926 |
| Operating Expenses | |
|---|---|
| Annual | $15,183 |
| Total Expenses | |
|---|---|
| Annual | $56,109 |
| Net Operating Income | |
|---|---|
| Annual | $57,235 |
Property Facts
| Price | $1,000,000 | Number of Properties | 3 |
| Price / SF | $51.57 / SF | Individually For Sale | 0 |
| Cap Rate | 5.72% | Total Building Size | 19,390 SF |
| Sale Type | Investment | Total Land Area | 1.94 AC |
| Status | Active |
| Price | $1,000,000 |
| Price / SF | $51.57 / SF |
| Cap Rate | 5.72% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 19,390 SF |
| Total Land Area | 1.94 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 600 S Mill St, Clio, MI 48420 | Retail | 7,908 SF | 2001 | - |
| 520-540 S Mill St, Clio, MI 48420 | Retail | 6,400 SF | 1996 | - |
| 100 Smith St, Clio, MI 48420 | Retail | 5,082 SF | 2003 | - |
1 1
1 of 4
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Hazel Park Plaza
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.