1514 N West Ave
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1514 N West Ave
7,736 SF Retail Building Jackson, MI 49202 $1,737,526 ($225/SF) 8.35% Cap Rate
Investment Highlights
- The subject property is being offered below replacement costs at just under $230 PSF.
- N. West Avenue (US-127) is the dominant retail corridor in Jackson with many national and regional tenants including Target, Kroger, and many more.
- Tenant has 2% annual rent increases throughout the initial term and the option periods.
- Site is well positioned on the pad of a Target with up to 100 ft of frontage on N. West Avenue, which features over 15,000 vpd.
Executive Summary
Mid-America Real Estate - Michigan, Inc. has been retained on behalf of ownership to sell the 100% fee simple interest in 0.59 acres of land containing a 7,736 square-foot building that has been leased to American Mattress. The site is well situated on the pad of a Target and has excellent visibility from N. West Avenue, the main thoroughfare of the market. The trade area is home to many national retailers such as Target, Home Depot, Kroger, Lowe’s, Kohl’s, T.J. Maxx, Best Buy, Ross Dress For Less, Hobby Lobby, Dunham’s, and many more.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,736 SF
Building Class
C
Year Built
1998
Price
$1,737,526
Price Per SF
$225
Cap Rate
8.35%
NOI
$145,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.30
Lot Size
0.59 AC
Zoning
C-4 - General Commercial
Parking
18 Spaces (2.33 Spaces per 1,000 SF Leased)
Frontage
88 FT on West
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 2-2470.1000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $348,600 |
PROPERTY TAXES
Parcel Number
2-2470.1000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$348,600
(248) 855-6800
x101
Contacts
-
Bradley Rosenberg -
Eric Birnholtz -
Mid-America Real Estate - Michigan, Inc.
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1514 N West Ave
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