500-518-520 Marshall St.

Shopping Center for Sale
Catylist Listing ID: 30484843
Property Subtypes: Strip Center
Building Size (RSF): 11,920 SF
Gross Land Area: 1.38 Acres
Sale Price: $895,000
Unit Price: $75.08 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Fairfield Plaza - North
Usable Size (USF): 11,920 SF
Sale Terms: Cash to Seller
Cap Rate: 7.5%
Average Occupancy Rate: 100
Last Updated: 11/5/2019

Overview / Comments

"Fairfield Plaza - North" is a 11,958 sf strip center located on 1.38 acres of land at the NorthEast corner of Marshall St. & State St. The intersection is controlled by a traffic light and there is safe and easy access to the strip center from both Marshall St. and State St. FFP-North is anchored by a busy 9,120 sf Family Dollar store, a popular Hungry Howie's Pizza. and a Dental Lab. There is a free-standing pylon sign at the main entrance on Marshall St.

The adjacent Fairfield Plaza to the south is a 130,671 sf retail center on 8.65 acres and is located on the east side of Marshall Street (Old US Hwy 27) and just to the south of the above mentioned Fairfield Plaza - North.

Both properties have safe and easy ingress and egress from Marshall Street and there are multiple entrances to the properties. Fairfield Plaza and Fairfield Plaza - North have high visibility pylon signs which helps to easily identify the tenants and property. Join over 20 tenants and capitalize from the retail traffic that is generated. Benefit from other national, regional and local retailers such as: Subway, Shell, Sherwin Williams, Family Dollar, Hungry Howie's, Children's Museum, Dance Factory, Select Health, LinCare and many other retailers. The property is shadow anchored by a recently remodeled Family Fare supermarket.

Additional Details

Nearest MSA: Coldwater
County: Branch
Taxing Authority: Branch County
Tax ID/APN: 302-000-000-003-00
Zoning: COMMERCIAL (C-1)
Retail Clientele: General, Family, Business
Property Located Between: North of Fairfield Plaza on Marshall Street
Property Visibility: Excellent
Largest Nearby Street: State Street
Feet of Frontage: 148
Site Description: The Coldwater area has several larger employers, but it is not dependent on a single industry or company for survival. The Branch County Economic Growth Alliance (BCEGA) is the lead organization charged with attracting and retaining businesses in the area. According to BCEGA, the area’s top ten employers include both larger multi-national corporations and smaller regional entities in several economic sectors. In 2012, Mastronardi Produce, opened a large vegetable greenhouse in the industrial park, and then later expanded it in 2014 to include a total of 100 acres of production space. Recently, construction of a new Pork Processing Plant. WalMart recently opened a large distribution Center North of the City of Coldwater thereby creating hundreds of well-paying jobs.
Area Description: Coldwater provides a wide range of retail options that larger cities do. Larger “big box” retailers on the east side of I-69 help meet most routine shopping needs, while Coldwater is only 45 minutes from larger metro areas such as Battle Creek, Michigan (about 50,000 people) and within an hour of Fort Wayne, Indiana (about 250,000 people). Coldwater merchants serve a loyal captive audience in a large trade area.
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Roof Type: Flat
Parking Type: Surface
Parking Description: Ample
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Lot Frontage: 147.5
Lot Depth: 407
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Legal Description: PARCEL DESCRIPTIONS: FAIRFIELD PLAZA - NORTH PARCEL 1: That part of the Northwest 114 of Section 15, Town 6 South, Range 6 West, City of Coldwater, Branch County, Michigan, described as: Beginning at a point on the East right of way line of Marshall Road, a 66 foot wide public roadway being S00°02.35"W, 180.50 feet along the West line of said Section 15 and S89°27'51"E, 33.00 feet; thence N00°02.35"E, 147.50 feet along said East right of way line to the South right of way line of State Street, a 66 foot wide public roadway; thence S89°32'58"E, 407.00 feet along said South right of way line; thence SO0°02 . 35"VV, 148.11 feet; thence N89°27 .51'W, 407.00 feet to said East line of Marshall Road and the Point of Beginning, containing 1.38 acres of land.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,061 14,755 21,461
Median Age: 38.28 37.39 38.84
Households: 2,812 4,720 7,352
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.