1325 N Main St
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1325 N Main St
14,000 SF 100% Leased Retail Building Adrian, MI 49221 £1,735,800 (£124/SF) 7.34% Net Initial Yield
Executive Summary
7 Space Retail strip mall built 2008 and well maintained new parking lot August 2024. Tenants Include:
- TLC Community Credit Union (a regional credit union)
- Dr. Martins Foot & Ankle
- Edward Jones
- Knights in Shining Aprons Restaurant with Drive Thru
- AAA
- Sprouts 3D Physical Therapy
The property has 2 curb cuts. There are three drive-ups, one large one on the South side of the building that is used for the credit union, then one on the East side with an awning for the former pharmacy, and then a smaller fast food style pop out on the North side for the Knights in Shining Aprons restaurant. These are all triple net leases with tenants paying a CAM (Common Area Maintenance) twice a year. Six additional parking spaces can be added along N Adrian Hwy in front of Sprouts 3D Therapy.
- TLC Community Credit Union (a regional credit union)
- Dr. Martins Foot & Ankle
- Edward Jones
- Knights in Shining Aprons Restaurant with Drive Thru
- AAA
- Sprouts 3D Physical Therapy
The property has 2 curb cuts. There are three drive-ups, one large one on the South side of the building that is used for the credit union, then one on the East side with an awning for the former pharmacy, and then a smaller fast food style pop out on the North side for the Knights in Shining Aprons restaurant. These are all triple net leases with tenants paying a CAM (Common Area Maintenance) twice a year. Six additional parking spaces can be added along N Adrian Hwy in front of Sprouts 3D Therapy.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,000 SF
Building Class
B
Year Built
2008
Price
£1,735,800
Price Per SF
£124
Net Initial Yield
7.34%
NOI
£127,408
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.15
Land Acres
2.08 AC
Zoning
B 2 - zoned B-2, “Community Business District,” which allows for any permitted use
in the B-1, “Local Business District”
Parking
63 Spaces (4.5 Spaces per 1,000 SF Leased)
Frontage
390 ft on N Adrian Hwy
Amenities
- Signage
- Drive Thru
- Wheelchair Accessible
- Air Conditioning
PROPERTY TAXES
| Parcel Number | XA0-100-0314-00 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £624,099 |
PROPERTY TAXES
Parcel Number
XA0-100-0314-00
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£624,099
-
Patrick Hoffman -
Hanna Commercial Real Estate
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1325 N Main St
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