Village at Wexford

Shopping Center for Sale
Sale Pending/Contingent
Catylist Listing ID: 30325015
Property Subtypes: Community Center, Neighborhood Center, Outlet Center, Power Center, Regional Mall, Strip Center
Status: Pending/Contingent
Building Size (RSF): 72,450 SF
Gross Building Area: See Agent
Sale Price: $2,500,000
Unit Price: $34.51 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 8.25%
Last Updated: 8/21/2019

Overview / Comments

NAI Wisinski of West Michigan, on behalf of ownership, is pleased to offer for sale to qualified investors the opportunity to acquire the Village at Wexford, a stabilized and well positioned retail center in Cadillac, Michigan.
The Village at Wexford is anchored by Family Farm & Home and Goodwill, which have occupied the center since 2013 and 2007. Both perform well at this location with strong sales numbers. A diverse rent roll of 13 different tenants provides stability to the center and mitigates rollover risk. The center can be purchased well below replacement cost, with current lease rates below market in many cases. Recent capital expenditures include both the parking lot and roof, minimizing risk for a buyer. Both current and historical occupancy point to a long term stable investment with upside potential.
The Village at Wexford is located in Cadillac’s main retail corridor, with excellent co-tenancy and strong traffic counts. The center is well positioned to be a stable investment for the foreseeable future.
Few opportunities exist in the market toady to obtain a well occupied, cash flowing asset with the level of stability and upside present at the Village at Wexford.

Additional Details

Nearest MSA: Cadillac
County: Wexford
Taxing Authority: Cadillac
Tax ID/APN: 2209-28-2103

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 10,784 14,276
Median Age: 38.27 40.43
Households: 4,265 5,746
The information presented herein is provided as is, without warranty of any kind. Neither Commercial Alliance of REALTORS West Michigan nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.