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Marcus & Millichap Brokers $4.1M Sale Of Fully Leased Retail Center In Portage MI

Property Image
SOLD
$4,100,000

Michigan

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Retail18,745 SF
Sold 07/02/2025
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Property Image
SOLD

Marcus & Millichap Brokers $4.1M Sale Of Fully Leased Retail Center In Portage MI

7894 Oakland Drive

See Similar Deals
Retail18,745 SF
Sold 07/02/2025
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Summary

MICHIGAN
Asset Type:Retail
Price Per Square Foot:$218
Total Square Footage:18,745 SF
Transaction Type:Sale

A fully leased retail center located at 7894 Oakland Drive in Portage, MI was sold for $4,100,000. The property spans 18,745 square feet, positioning it in a competitive market. It attracted multiple offers, highlighting its tenant mix and suite sizes, while also benefiting from below-market rents.

Summary of transation details:

Marcus & Millichap facilitated the all-cash transaction of Centre Square, completing the deal just 41 days post-contract. The diverse tenant mix and strategic leasing positioned the property as a desirable investment opportunity, supported by the expertise of the brokers involved.

Players

Seth Haron
12 deals$107.9M volume
BROKER

Ashish Vakhariya
Marcus & Millichap
12 deals$107.9M volume
BROKER

Darin Gross
Marcus & Millichap
12 deals$107.9M volume
BROKER

Marcus & Millichap
BROKERAGE

Details

SOLD
IMAGE: 07/02/2025 ADDRESS: 7894 Oakland Drive MARKET: Portagem MI ASSET TYPE: Retail BROKERS: Seth Haron, Darin Gross & Ashish Vakhariya - Marcus & Millichap SALE PRICE: $4,100,000 SF: 18,745 ~ PPSF: $219 NOTE: Marcus & Millichap brokered the $4.1M all-cash sale of Centre Square, an 18,745 SF fully leased retail center in Portage, MI, 41 days after going under contract. The deal drew multiple offers due to its tenant mix, suite sizes, and below-market rents.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$218,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,566.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,436.09
Annual Debt Service$233,233.10