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:
$2,250,000
List Date:
3/05/2019
Last Modified:
9/26/2021
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.
More Information MLS# 19007818
Location Property Info
County: Van Buren
Street #: 307
Street Direction: E
Street Name: Michigan
Suffix: Avenue
State: MI
Zip Code: 49079
Area: Greater Kalamazoo - K
OfficeContract Info
Status: Sold
Current Price: $1,918,750
List Price: $2,250,000
Listing Date: 2019-03-05
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: 1
# 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
Tax Info
Tax ID #: Multiple
Taxable Value: 707075
SEV: 722200
For Tax Year: 16
Annual Property Tax: 47811
Tax Year: 16
Spec Assessment & Type: None known.
Non-Conforming Use: No
Zoning: com.
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: $1,918,750
Sold Price/SqFt: 57.64
Additional Details
# Loading Docks/Well: 1
Total Parking Spaces: 100
Unit 1
Unit Description: Save-A-Lot
SqFt: 17250
Occupied: Yes
# Baths: 2
Unit 2
Unit Description: Goodwill
SqFt: 5540
Occupied: Yes
# Baths: 2
Unit 3
Unit Description: Little Caesars
SqFt: 1625
Occupied: Yes
# Baths: 1
Unit 4
Unit Description: Artsy Ally
SqFt: 1200
Occupied: Yes
# Baths: 1
Unit 5
Unit Description: Dollar Tree
SqFt: 7680
Occupied: Yes
# Baths: 2
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: Broadband; Cable Available; Electricity Available; 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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