MI > Grand Rapids > Mi
Grand Rapids, MI 49508,1850 28th Street
Grand Rapids, MI 49508,1850 28th Street
Grand Rapids, MI 49508,1850 28th Street
Grand Rapids, MI 49508,1850 28th Street
Grand Rapids, MI 49508,1850 28th Street
Grand Rapids, MI 49508,1850 28th Street
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Place Perfect Realty

Place Perfect Realty

+1(920) 956-9061
$ 1,575,000
Est. payment | /mo

20,340 SqFt

Save
$ 1,575,000
Est. payment | /mo
Save

20,340 SqFt

Key Details

Property Type Commercial

Sub Type Commercial/Industrial

Listing Status Active

Purchase Type For Sale

Square Footage 20,340 sqft

Price per Sqft $77

Subdivision Mi

MLS Listing ID 70463095

Year Built 1988

Annual Tax Amount $30,928

Tax Year 2024

Lot Size 3.610 Acres

Acres 3.61

Lot Dimensions see map

Property Sub-Type Commercial/Industrial

Property Description

*PRICE REDUCED* Great opportunity for a fully leased automotive retail Grand Rapids commercial property with desirable 28th Street frontage plus additional appx 75,000 sq/ft (289x262) of land area for possible venture/expansion (i.e storage facility/your location building) There is current investment buildout in this 28th/Kzoo area! This is a turn-key cashflow investment opportunity with owner operator possibilities. Suite 500 has potential to be split into 2 suites as previous for additional rents. (500 & 550) A Suite is available for Owner Operator! Roof updated 2011. Environmental done 2020: no corrective actions necessary. 2020 appraisal ($1,375,000) adjusting for rents appx 35% more puts estimated value much higher ($1,850,000) than asking price making this a deal! Appx 9% cap rate at asking price. Current total lease at $15,500/monthly gross lease ($186,000 annually) Appx $146,000 cashflow a year with current leases and expenses. See supplement and attached. Call for more info.

Location

State MI

County Kent

Area Grand Rapids (41032)

Zoning Commercial

Interior

Heating Radiant

Exterior

Parking Features 21+ Spaces

Building

Structure Type Block,Concrete

Others

Ownership LLC

Energy Description Natural Gas

Financing Cash,Conventional

MiRealSource (MI RealSource (Lenawee /Saginaw/SE-Border/Gr Shiawassee/Upper Peninsula)
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Bialik Real Estate LLC
Place Perfect Realty

"Professional service to our clients & customers is our #1 priority. With offices in Marinette,  Green Bay Wisconsin and Menominee, Michigan, Place Perfect Realty provides real estate services to Northeast Wisconsin and Upper Michigan."

+1(920) 956-9061

homes@placeperfect.com

2056 Maple Ave, Marinette, WI, 54143-1713, USA

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1850 28th Street