1508 N Mitchell Street, Cadillac, MI 49601

$2,340,000

2D Floor Plan for 1556 North Mitchell St

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

Listing Office: RE/MAX TOGETHER

Listing Agent: Joseph McNally

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.