Sturgis Shopping Center

Price: $1,602,000
Sq. Ft.: 8,593
Cap Rate: 7.75%
Built: 2002
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Sturgis Shopping Center is a 8,593-square-foot, multi-tenant retail center located in Sturgis, Michigan. The building is currently 100 percent occupied, and all leases are triple-net. The center features a strong tenant base comprised of 71 percent national retailers, including T-Mobile, Great Clips, Cricket Wireless, Hearing Life, and Blue Ray Beach. Constructed in 2002, the center is situated on a 1.87-acre parcel with ample paved parking. The building features a metal roof and metal awnings.

Sturgis Shopping Center is located on South Centerville Road (M-66), a state highway that runs north-south on the Lower Peninsula of Michigan. The subject property is easily accessible from multiple ingress and egress points. Traffic counts in front of the property exceed 12,276 vehicles per day. Sturgis Shopping Center is shadow-anchored by Meijer and Walmart Supercenter, driving approximately 1.7 million and 2.0 million visitors annually, respectively. Numerous other national and regional retailers are in the area, including Dollar Tree, AT&T, Applebee’s Grill + Bar, Maurices, GameStop, O’Reilly Auto Parts, ALDI, Family Dollar, Shoe Show, Goodwill Store, Buffalo Wild Wings, Taco Bell, Wendy’s, KFC, McDonald’s, Tractor Supply Co., and others. The average household income is $53,014 within one mile; $63,015 within three miles; and $67,580 within five miles.

• 8,593-Square-Foot, Multi-Tenant Retail Center
• Shadow-Anchored by Walmart Supercenter and Meijer Supermarket | High-Traffic Drivers, Hosting 2.0 Million and 1.7 Million Visits Annually, Respectively (Source: Placer.ai)
• 100% Leased | All Leases are Triple-Net | 71% of the GLA is Leased to National Retailers
• Priced at $186 Per Square Foot | Well Below Replacement Cost
• Building has a Metal Roof and Metal Awning
• Located in Prime Retail Corridor on South Centerville Road (M-66) | M-66 Runs North-South on the Lower Peninsula of Michigan | Traffic Counts Exceed 12,276 Vehicles Per Day
• Nearby Retailers Include Dollar Tree, Applebee’s Grill + Bar, Maurices, O’Reilly Auto Parts, ALDI, Family Dollar, Shoe Show, Goodwill, Buffalo Wild Wings, and More
• Close Proximity to Morgan Olson Headquarters, One of the City’s Major Employers
• Less Than Two Miles from Downtown Sturgis | Historically Known as “Electric City”, a Downtown Revitalization Campaign is Slated to Include Installing 2,900 Feet of LED Lighting Along Downtown Rooftops, Creating a New Food Truck Park, and Establishing an “Electric Alley” with Outdoor Seating and Public Art
• Sturgis is a city in St. Joseph County, Located at the Northeast Corner of Sturgis Township and Just North of the Indiana State Line