4448 E Blue Grass Rd
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4448 E Blue Grass Rd
1,687 SF Retail Building Mount Pleasant, MI 48858 $2,138,303 CAD ($1,268 CAD/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 15-year ground lease with zero landlord responsibilities.
- Low rent, low price point.
- Walmart outparcel and located along main retail corridor.
- 10% rental increases every 5 years.
- New prototype construction, scheduled to be completed in early 2025.
EXECUTIVE SUMMARY
Mid-America Real Estate - Michigan, Inc. has been retained on behalf of ownership to sell the fee interest of the 1.86-acre parcel that has been long term ground leased to Valvoline Instant Oil Change in Mt Pleasant, Michigan. The site is centrally located on E. Blue Grass Road, just off US-127, Mt. Pleasant’s main retail corridor. Nearby retailers include Walmart, Sam’s Club, Menards, ALDI, JOANN, Target, and many more national and local retailers. The property is also in close proximity to Central Michigan University, hosting more than 14,000 students a semester, and Soaring Eagle Casino & Resort, bringing in 2.6 million annual visitors.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
1,687 SF
Building Class
A
Year Built
2025
Construction Status
Under Construction
Price
$2,138,303 CAD
Price Per SF
$1,268 CAD
Cap Rate
5.75%
NOI
$122,952 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.02
Lot Size
1.86 AC
Frontage
227 ft on East Blue Grass Road
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
8,880
32,210
38,966
45,421
2029 Population
9,660
34,112
40,940
47,391
2024-2029 Projected Population Growth
8.8%
5.9%
5.1%
4.3%
Median Age
26.6
28.8
29.8
31.0
College Degree + Higher
30%
34%
34%
20%
Daytime Employees
4,407
22,980
31,042
31,961
Total Businesses
411
2,095
2,522
2,709
Average Household Income
$43,170
$57,129
$62,917
$65,739
Median Household Income
$23,424
$38,945
$44,143
$47,016
Total Consumer Spending
$86.6M
$333M
$417.9M
$495.4M
2024 Households
4,121
13,922
16,533
19,008
Average Home Value
$266,725
$192,238
$197,730
$197,690
$ values in USD
NEARBY MAJOR RETAILERS
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4448 E Blue Grass Rd
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