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Shoppes at Romence Village 603-665 Romence Rd

62,079 SF 90% Leased Retail Building Portage, MI 49024 $12,411,480 CAD ($200 CAD/SF) 8.25% Cap Rate

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Investment Highlights

STRONG HISTORICAL OCCUPANCY & RECENT LEASING VELOCITY
DOMINANT RETAIL MARKET
UPSIDE POTENTIAL | DEVELOPABLE VACANT PAD

HIGHER EDUCATION AND MAJOR EMPLOYERS
STABLE DEMOGRAPHICS

Executive Summary

Mid-America Real Estate Corporation, in cooperation with Mid-America Real Estate – Michigan, LLC, has been retained by the owner to sell the 100% fee simple interest in Shoppes at Romence Village, a community shopping center positioned near the highly trafficked Westnedge Avenue in the Kalamazoo/ Portage region’s most prominent retail trade area. The center provides an investor the opportunity to acquire an asset featuring stable in-place cash flow from a tenant roster with strong historical occupancy.

Shoppes at Romence Village Flyer

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Storefront

Building Size

62,079 SF

Building Class

Year Built

2001

Price

$12,411,480 CAD

Price Per SF

$200 CAD

Cap Rate

8.25%

NOI

$1,023,986 CAD

Percent Leased

90%

Tenancy

Multiple

Building Height

1 Story

Loading Docks

3 Exterior

Building FAR

0.16

Land Acres

8.97 AC

Zoning

B-2

Parking

200 Spaces (3.23 Spaces per 1,000 SF Leased)

Frontage

107 ft on Romence Rd

Amenities

Dedicated Turn Lane

Pylon Sign

Signage

Space Availability

633
4,000 SF
Retail
In-Line
Now

Last remaining in-line space. Join other successful national & regional tenants in this well maintained and professionally managed center. Abundant parking. Large pylon sign. Center shares signalized access with area's only regional mall. co-tenants include: AAA, Secretary of State, Great Clips, Jet's Pizza, Once Upon A Child, Clothes Mentor, Wild Ginger, Title Boxing, Keller Williams, Island Heat Tanning, Triangle Nails. Shadow anchored by Kalamazoo Kitty.

661
2,354 SF
Retail
-
Now

Space	Size	Space Use	Position	Available
633	4,000 SF	Retail	In-Line	Now
661	2,354 SF	Retail	-	Now

Size

4,000 SF

Space Use

Retail

Position

In-Line

Available

Now

Size

2,354 SF

Space Use

Retail

Position

Available

Now

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