Soo Plaza

Highlights:

• 71,108 SF Retail Center Built in 1980 | Located Along 75 Business Spurr Averaging 15,600+ VPD
• Recent Capital Expenses Include 2 New HVAC Units for Arona
• Shopping Plaza Averages 180K+ Visits per year | Anchored by Arona
• 30% Vacancy Across Six Suites | Value Add Opportunity to Increase NOI by Leasing 21,825 SF Available
• Established Retail and Long-Term Tenant Commitments | Many with Renewals
• Easily Accessible and Excellent Visibility | Less than 2 Miles from I-75
• Ample Parking on site for Customers and Staff
• Along Major Shopping Corridor | Nearby Retailers Include Walmart, Hobby Lobby, Five Below, T.J. Maxx, Ulta Beauty, Buffalo Wild Wings, Circle K, McDonald's, UHaul, Pet Supplies Plus, and Many More
• Surrounded by Hotels and Inns such as Hampton Inn, Super 8, The Inn Sault Ste. Marie, Americas Best Value Inn, Comfort Inn and More
• The Soo Locks in Sault Ste. Marie attracts approximately 500,000 - 600,000 visitors annually to the viewing platform and visitor center
• The Sault Ste. Marie International Bridge is the only international border crossing between Michigan and Ontario for approximately 700 miles, carrying approximately 3,000 to 4,000 vehicles per day
• Additional Land for Development or Use Behind Building | Approximately 7.10 Acres | Contact City for Potential Use

Description:

Discover a prime investment opportunity in the bustling Sault Ste. Marie area. This 69,458 SF retail/strip center, built in 1980, boasts a strong presence and 100% occupancy, offering a stable income stream for savvy investors. With its strategic location and established tenant base, this property presents an enticing prospect for those seeking a lucrative retail venture. Take advantage of this rare chance to add a well-maintained, income-producing asset to your portfolio, primed for enduring success in the vibrant retail landscape.

Sault Ste. Marie is a city in, and the county seat of Chippewa County in the state of Michigan. It can be found in the northeastern end of Michigan's Upper Peninsula, which is on the Canada-US border. The city is the second-most populous city in the Upper Peninsula with a population of 14,144. Sault Ste Marie is separated from its twin city of Sault Ste. Marie, Ontario by the St. Marys River.

Tourism is a major industry in the area. The Soo Locks and nearby Kewadin Casino, Hotel and Convention Center—which is owned by the Sault Tribe of Chippewa Indians—are the major draws, as well as the forests, inland lakes, and Lake Superior shoreline. The Soo Locks, being a popular tourist attraction also sees over 95 million tons of freight pass through each year. Built over 160 years ago, the Soo Locks is a canal system that raises and lowers ships using water. Sault Ste. Marie is also a gateway to Lake Superior's scenic north shore through its twin city Sault Ste. Marie, Ontario. The two cities are connected by the large Sault Ste. Marie International Bridge, a steel truss arch bridge with suspended deck passing over the St. Marys River. The bridge connects I-75 in Sault Ste. Marie, Michigan with Huron Street in Ontario.

Sault Ste. Marie is also home to the Tahquamenon Falls State Park which features hiking trails, rowboat rentals and wildlife viewing. Lake Superior State University (LSSU), founded in 1946 as an extension campus of Michigan College of Mining and Technology (now Michigan Technological University) is also located in Sault Ste. Marie.

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