$1,850,000
20,340
SqFt
3.61
Acre Lot
157,034
Sqft Lot
Price Type
Status
Active
Property Type
Retail
Year Built
1988
Days on Website
95
Property Map
$1,850,000 – 1850 28th Street Se, Grand Rapids, MI 49508
Street View
Courtesy of Bialik Real Estate LLC, Nathaniel R Bialik.
Description
Great opportunity for a fully leased automotive retail Grand Rapids commercial property with unused land area for possible additional venture/expansion. Approximately 7.35% cap rate at current asking price. Seller will look at any reasonable offer. Desirable 28th Street frontage across from Indian Trails Golf course between Kalamazoo Ave and Breton. Call for lease info, environmental info, and to schedule a tour. Current monthly gross lease total of $15,500. Environmental done 2020: no corrective actions necessary.
Property Details and Features
Property Access
- Road Surface Type: “Paved”
Building
- Building Area Total: 20,340
- Construction Materials: “Block”
- Number Of Buildings: 1
- Number Of Units Total: 6
- Year Built: 1988
- 20340 total stories
Heating
- Heating: “Radiant”
- Heating Included
Listing
- Contract Status Change Date: 2024-10-18
- Expiration Date: 2025-04-18
- Listing Agreement: No
- Listing Contract Date: 2024-10-18
- Listing Id: 24055171
- Listing Terms: “Conventional”, “Cash”
- Mls Status: Active
- Modification Timestamp: 2024-12-05 23:37:46
- On Market Date: 2024-10-18
- Original Entry Timestamp: 2024-10-18 21:26:46
- Original List Price: $2,150,000
- Previous List Price: 2150000
- Price Change Timestamp: 2024-12-05 23:19:24
- Standard Status: Active
- Status Change Timestamp: 2024-10-18 21:26:46
- 95 cumulative days on market
- 95 days on market
Location
- City: Grand Rapids
- State Or Province: MI
- County Or Parish: Kent
- Postal Code: 49508
- MLS Area Major: Grand Rapids – G
- MLS Area Minor: Grand Rapids – G
Lot
- 3.61 acres
- Area: 3.61
- Dimensions: see map
- 157,034 square feet
Owner Pays
- Owner Name: 28th Street Grand LLC
Parking
- Parking Total: 50
Property
- Business Type: “Other”, “Professional Service”, “Storage”, “Retail”
- Occupant Type: Tenant
- Parcel Number: 41-18-16-126-005
- Property Sub Type: Retail
Schools
- Middle Or Junior School District: Grand Rapids
Sewer
- Sewer: “Public Sewer”
Taxes
- Annual Amount: $30,928
- Tax Year: 2024
Utilities
- Utilities: “Phone Available”, “Natural Gas Available”, “Electricity Available”, “Phone Connected”, “Natural Gas Connected”, “Electricity Connected”, “Water Available”, “Sewer Available”
- Water Source: “Public”