307 - 319 E Michigan Avenue, Paw Paw, MI 49079 (MLS# 19007818)

307 - 319 E Michigan Avenue, Paw Paw, MI 49079

$1,918,750

Property Type: Commercial Sale Square Footage: 33,290 Lot Size (sq. ft.): 100,188 Status: Sold

Current Price: $1,918,750 List Date: 3/05/2019 Last Modified: 9/26/2021

Overview

Description

The Save-A-Lot anchored Paw Paw Plaza. Excellent location in the downtown area on E. Michigan Avenue. All long term tenants on NNN leases. Dollar Tree just leased and is currently doing a build out. Priced at 9% CAP.

Listing Details MLS# 19007818

Location Property Info

County: Van Buren
Street #: 307
Street Direction: E
Street Name: Michigan
Suffix: Avenue
State: MI
Zip Code: 49079

General Property Info

New Construction: No
Lot Measurement: Acres
Lot Acres: 2.3
Lot Square Footage: 100188
Lot Dimensions: irr
Year Built: 1977
Road Frontage: 1203
Total # Units: 5
# Fin Bldg Lvls: Yes
# of Diff Unit Floor Plans: 5
Total # Bldgs: 2
Total SqFt: 33290
Property Use Type: Net Leased (nnn)
Full Baths: 8
Waterfront: No
School District: Paw Paw
Year Remodeled: 0

Tax Info

Tax ID #: Multiple
Taxable Value: 707075
SEV: 722200
For Tax Year: 16
Seller's Annual Property Tax: 47811
Tax Year: 16
Spec Assessment & Type: None known.
Non-Conforming Use: No
Zoning: com.
Homestead %: 0

Remarks Misc

Directions: From downtown Paw Paw take E Michigan West to property. on left.

Status Change Info

Under Contract Date: 2019-07-13
Sold Date: 2019-10-11
Sold Price/SqFt: 57.64

More Information

Additional Details

# Loading Docks/Well: Yes
Total Parking Spaces: 100

Unit 1

Unit Description: Save-A-Lot
SqFt: 17250
Occupied: Yes
# Baths: 2
Tenant Pays Electric: Yes
Tenant Pays Gas: Yes
Tenant Pays Other: Yes
Tenant Pays Sewer: Yes
Tenant Pays Trash: Yes
Tenant Pays Water: Yes

Unit 2

Unit Description: Goodwill
SqFt: 5540
Occupied: Yes
# Baths: 2
Tenant Pays Electric: Yes
Tenant Pays Gas: Yes
Tenant Pays Other: Yes
Tenant Pays Sewer: Yes
Tenant Pays Trash: Yes
Tenant Pays Water: Yes

Unit 3

Unit Description: Little Caesars
SqFt: 1625
Occupied: Yes
# Baths: Yes
Tenant Pays Electric: Yes
Tenant Pays Gas: Yes
Tenant Pays Other: Yes
Tenant Pays Sewer: Yes
Tenant Pays Trash: Yes
Tenant Pays Water: Yes

Unit 4

Unit Description: Artsy Ally
SqFt: 1200
Occupied: Yes
# Baths: Yes
Tenant Pays Electric: Yes
Tenant Pays Gas: Yes
Tenant Pays Other: Yes
Tenant Pays Sewer: Yes
Tenant Pays Trash: Yes
Tenant Pays Water: Yes

Unit 5

Unit Description: Dollar Tree
SqFt: 7680
Occupied: Yes
# Baths: 2
Tenant Pays Electric: Yes
Tenant Pays Gas: Yes
Tenant Pays Other: Yes
Tenant Pays Sewer: Yes
Tenant Pays Trash: Yes
Tenant Pays Water: Yes

Location & Property Info

Modifier: - 319
Cross Streets: E Michigan / Second St
Property Sub-Type: Retail
Area: Greater Kalamazoo - K
Municipality: Paw Paw Vllg

Office/Contract Info

Auction or For Sale: For Sale
List Price/SqFt: 67.59
Prop Avail for Lease?: No
Current Bldg Use: Retail / service

Remarks & Misc

Legal: Office. Multiple.

Street Type

Paved: Yes
Public: Yes

Property Use

Investment: Yes
Net Leased (nnn): Yes

Utilities Attached

Electricity Connected: Yes
Natural Gas Connected: Yes
Phone Connected: Yes

Sewer

Public Sewer: Yes

Water

Public Water: Yes

Uses

Bar/Tavern/Lounge: Yes
Professional Service: Yes
Restaurant: Yes
Retail: Yes

Construction Type

Block: Yes

Exterior Material

Block: Yes

Roofing

Metal: Yes
Rubber: Yes

Heat Source

Natural Gas: Yes

Sale Conditions

None: Yes

Ownership

Partnership: Yes

Below Grade

None: Yes

Heat Type

Forced Air: Yes

Air Conditioning

Central Air: Yes

Business Includes

Real Estate: Yes

Additional Features

Barrier Free: Yes
Bath Common Area: Yes

Util Avail at St

Cable Available: Yes
Electricity Available: Yes
High Speed Internet: Yes
Natural Gas Available: Yes
Phone Available: Yes
Storm Sewer: Yes

Tenant Pays All

Common Area Maintena: Yes
Electric: Yes
Gas: Yes
Janitorial: Yes
Prop Taxes/Assess: Yes
Sewer: Yes
Trash: Yes
Water: Yes

Driveway

Paved: Yes

Docs Req Conf Agrmnt

Leases: Yes
Site Plan: Yes

Send to Econ Dev Org

MEDC: Yes
SWMI First, Region 5: Yes

Purchase Terms Avail

Cash: Yes
Conventional: Yes

Possession

Close Of Escrow: Yes

Property Features

Property Use: Investment; Net Leased (nnn) Uses: Bar/Tavern/Lounge; Professional Service; Restaurant; Retail Ownership: Partnership Business Includes: Real Estate Construction Type: Block Exterior Material: Block Roofing: Metal; Rubber Below Grade: None Additional Features: Barrier Free; Bath Common Area Tenant Pays All: Common Area Maintena; Electric; Gas; Janitorial; Prop Taxes/Assess; Sewer; Trash; Water Sewer: Public Sewer Water: Public Water Utilities Attached: Electricity Connected; Natural Gas Connected; Phone Connected Util Avail at St: Cable Available; Electricity Available; High Speed Internet; Natural Gas Available; Phone Available; Storm Sewer Heat Source: Natural Gas Heat Type: Forced Air Air Conditioning: Central Air Driveway: Paved Street Type: Paved; Public Purchase Terms Avail: Cash; Conventional Docs Req Conf Agrmnt: Leases; Site Plan Sale Conditions: None Send to Econ Dev Org: MEDC; SWMI First, Region 5 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 Possession: Close Of Escrow

Listing Office: West Michigan, REALTORS

Listing Agent: Nate Brussee

Last Updated: September - 26 - 2021

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