1508 N Mitchell Street, Cadillac, MI 49601

$2,350,000
Property Type: Commercial Sale Square Footage: 47,945 Lot Size (sq. ft.): 389,426 Status: Active
Current Price: $2,350,000 List Date: 1/19/2026 Last Modified: 1/19/2026

Description

Joe McNally and RE/MAX Together are pleased to offer The Mitchell Street Mall in Cadillac, MI. This is a 91% leased stable asset, that offers an investor the rare opportunity to acquire a well constructed and maintained multi tenant retail center at almost a 20 percent Cash-on-Cash Return and a current 8+ cap rate, with tremendous upward opportunity through the one vacant unit, an anchor store sized 25,000 square feet unit ready for investors or delevopers to step into as a turn-key major store space, complete with commercial loading docks, inventory space, and storage areas (previously JC Penny). This incredible location is set in the heart of one of Cadillac's most highly traffic corridors. Annual gross incomes exceed $270,000, with enormous upward potential. Most units have been recently renovated and built out, and have long term leases in place with stable businesses in place. This is a hard-to-find investment opportunity, call today for more information.

More Information MLS# 26002162

Location Property Info

County: Wexford Street #: 1508 Street Direction: N Street Name: Mitchell Suffix: Street State: MI Zip Code: 49601

OfficeContract Info

Status: Active Current Price: $2,350,000 List Price: $2,350,000 Listing Date: 2026-01-18

General Property Info

New Construction: No Lot Measurement: Acres Lot Acres: 8.94 Lot Square Footage: 389426 Lot Dimensions: Irregular Year Built: 1980 Road Frontage: 54 Total # Units: 11 # Fin Bldg Lvls: 47945 Total # Bldgs: 1 Total SqFt: 47945 Full Baths: 15 Waterfront: No School District: Cadillac

Tax Info

Tax ID #: 2209-28-4202 Taxable Value: 678254 SEV: 844100 For Tax Year: 2025 Seller's Annual Property Tax: 34004 Tax Year: 2024 Spec Assessment & Type: None Known

Remarks Misc

Directions: From Big Rapids, North on 131 to Cadillac, Near Cadillac's busy North end. Corner of Mitchell St. and Bell Ave.

Additional Details

# Loading Docks/Well: 3 Total Parking Spaces: 200

Unit 1

Unit Description: Natural wellness SqFt: 1250 Occupied: Yes Rent $/Month: 1100 # Baths: 1

Unit 2

Unit Description: State Farm SqFt: 1250 Occupied: Yes Rent $/Month: 1249

Unit 3

Unit Description: Growers Edge SqFt: 5000 Occupied: Yes Rent $/Month: 2500

Unit 4

Unit Description: Independant Living SqFt: 3000 Occupied: Yes Rent $/Month: 2472

Unit 5

Unit Description: Merchandise Outlet SqFt: 7700 Occupied: Yes Rent $/Month: 3500

Unit 6

Unit Description: Anchor Store SqFt: 22635 Occupied: No

Unit 7

Unit Description: Gordons Food Service SqFt: 1200 Occupied: Yes Rent $/Month: 1434

Unit 8

Unit Description: Lights Out SqFt: 1200 Occupied: Yes Rent $/Month: 1100

Unit 9

Unit Description: Grondins Hair SqFt: 1200 Occupied: Yes Rent $/Month: 1380

Unit 10

Unit Description: Top Nails SqFt: 1200 Occupied: Yes Rent $/Month: 1600

Unit 11

Unit Description: Cantina Bamba SqFt: 2310 Occupied: Yes Rent $/Month: 2300

Property Features

Property Use: Business; Investment; Net Leased (nnn) Uses: Professional Service; Professional/Office; Restaurant; Retail Business Includes: Real Estate Construction Type: Concrete; Steel Exterior Material: Brick Sewer: Public Sewer Water: Public Water Utilities Attached: Electricity Connected; Natural Gas Connected Util Avail at St: Cable Available; Electricity Available; High Speed Internet; Natural Gas Available; Phone Available Heat Source: Natural Gas Heat Type: Forced Air Air Conditioning: Central Air Driveway: Paved Street Type: Paved; Public Purchase Terms Avail: Cash; Conventional Sale Conditions: None Unit 1: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water Unit 2: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water Unit 3: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water Unit 4: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water Unit 5: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water Unit 7: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water Unit 8: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water Unit 9: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water Unit 10: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water Unit 11: Tenant Pays Electric; Tenant Pays Gas; Tenant Pays Other; Tenant Pays Sewer; Tenant Pays Trash; Tenant Pays Water
Listing Office: RE/MAX TOGETHER
Listing Agent: Joseph McNally
Last Updated: January - 19 - 2026
1508 N Mitchell Street, Cadillac, MI 49601- MLS# 26002162
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