1508 N Mitchell Street, Cadillac, MI 49601

$2,340,000
Property Type: Commercial Sale Square Footage: 47,945 Lot Size (sq. ft.): 389,426 Status: Active
Current Price: $2,340,000 List Date: 1/19/2026 Last Modified: 4/13/2026

Overview

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.

Listing Details MLS# 26002162

Location Property Info

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

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
Yes
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

More Information

Unit 1

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

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
IDX
Listing Office: RE/MAX TOGETHER
Listing Agent: Joseph McNally
Source MLS Verified
Last Updated: April - 13 - 2026
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of MICHRIC , and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.