Multi-Tenant Retail    

Lakeland Square

 Cadillac, MI

Asking Price

$12,800,000

Cap Rate

7.75%

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Retail Corridor

Destination Shopping

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Year Built

1989/OP: 2018

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2-Tenant Outparcel

Sbux & T-Mobile

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Avg HHI

$79,000

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Square Feet

211,235 SF

INVESTMENT HIGHLIGHTS

  • 4 Million Grocery Shoppers | Walmart and Meijer, located directly across the street, attract over 4 million visits annually (2.1 million and 1.9 million respectively) Source: Placer.ai
  • 540K Visits to QSR Outparcels | The McDonald’s and Taco Bell outparcels receive 540K visits annually, placing the restaurants in the 99th and 94th percentiles in the state respectively. Source: Placer.ai
  • 89.5% Occupied Center | Anchored by Dunham’s, Big Sandy, Dollar Tree. 
  • New 2-Tenant Outparcel | Starbucks & T-Mobile
  • Destination Retail and Location | Healthy Mix of QSR’s, National, Regional and Local Tenants; Internet-resistant Tenant Mix
  • Value Add Opportunity | 22,160 SF Vacancy - Space already demised with wrap-around glass storefront. Potential Outparcel behind McDonald’s & Qdoba.
  • Outstanding Location in Dense Retail Corridor | Over 36,000 VPD’s at Mitchell & Boon. Neighboring Tenants Include: Home Depot, Meijer, Walmart, TJ Maxx, ABC Warehouse and Many More. Popeyes and Taco John’s coming soon to the market.
  • Expansive Trade Area Draw | Adjacent to Home Depot, Walmart, Meijer, and TJ Maxx; The Next Nearest Home Depot & Walmart Locations are Over 45 Miles Away; There are Only 5 Other Meijer Locations Within a 50-Mile Radius; Additionally, no Other TJ Maxx Locations Exist Within a 50-Mile Radius

Exclusively Listed By

Vikaas Patni

Senior Associate
  vpatni@northmarq.com      513.828.6252

Daniel Herrold

Senior Vice President
  dherrold@northmarq.com      918.814.1966

Michael Zimmerman

Vice President
  mzimmerman@northmarq.com      954.290.6366

Matt Spangenberg

Senior Associate
  mspangenberg@northmarq.com      312.777.2442

In Association With
Melissa McKenzie

MI Lic. #6502387293

Northmarq

6120 S Yale Ave, Suite 300
Tulsa, OK 74136


northmarq.com