Investment Overview

Marcus & Millichap is pleased to present a vacant, free-standing retail building located at 126 N Broad Street in Adrian, Michigan (the “Property”). Formerly occupied by Big Boy Restaurant, the Property is being offered significantly below replacement cost, providing an excellent opportunity for owner/users or investors to acquire a well-positioned asset in Southern Michigan. FIRST BID MEETS RESERVE!The Property features a ±3,952 SF free-standing building on a ±0.94-acre lot, offering approximately 62 surface parking spaces and frontage along N Broad Street, a primary downtown commercial corridor. The site benefits from excellent visibility on N Broad Street, with ±8,121 vehicles per day (VPD) passing the Property.  The existing infrastructure makes the Property an ideal candidate for restaurant re-use or redevelopment into medical, bank, or other commercial uses. Previously occupied by Big Boy Restaurant, the Property presents a strong value-add opportunity for investors to lease-up at long-term market rates (CoStar estimated retail rents: $9-10/SF NNN). Zoned OS-1 (Office Service District), the site allows for a variety of commercial uses including office, medical, restaurant, bank, and others.The Property is located in Adrian, a city in southeast Michigan, located in Lenawee County. The city is approximately 35 miles southwest of Ann Arbor, 45 miles northwest of Toledo, Ohio, and 70 miles southwest of Detroit. Adrian is served by state highways M-52 and M-34, providing regional access. The city benefits from proximity to U.S. Route 223 and I-94, which connects to major Midwest markets. The local economy is bolstered by institutions like Adrian College and Siena Heights University, which bring student populations and associated service demands. The Property is surrounded by national and regional retailers, including Walmart, Lowe’s, Goodwill, Tractor Supply, Hobby Lobby, Harbor Freight, Culver’s, CVS, McDonald’s, Dollar General, and Dollar Tree reinforcing strong consumer traffic and retail synergy. The Property is positioned within a 5-mile trade area of ±37,534 residents with an average household income of ±$62,916.