Downtown Sparta Retail/Office Space

Retail-Commercial for Sale
Also listed as Office
Catylist Listing ID: 30048948
Property Subtypes: Convenience Store, Free-Standing Building, Street Retail, General
Building Size (RSF): 3,584 SF
Gross Land Area: 0.17 Acres
Sale Price: $244,500
Unit Price: $68.22 PSF
Property Use Type: Investment
Usable Size (USF): 3,584 SF
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 9/13/2017

Overview / Comments

Tons of city-maintained public parking adjacent to space. This 3-tenant investment property currently has all 3 suites leased.

Outside fenced storage could be available for a couple of service trucks. In addition to rent, tenant pays tenant’s portion of electric, gas, water and sewer. Landlord pays snowplowing, lawn care, property taxes, casualty insurance & maintenance. Tenant pays liability insurance, janitorial & refuse removal.

Independence Realty—COMMERCIAL, Randy Bronkema, welcomes your call to explore this property as well as to discuss your overall real estate strategy, whether as tenant / buyer / seller / landlord.
Comprehensive industry experience with a wide range of project responsibilities that prove invaluable to an extensive client base, plus over a quarter of a century of commercial experience gives you a rare and seasoned perspective coupled with invaluable understanding. Whether sales, leasing or site selection, I can provide a strategic, results-producing solution.

Financials

Finance Data Year 2001
Real Estate Taxes - Annual($) $57,754 (Annual)

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Taxing Authority: Village of Sparta
Tax ID/APN: 41-05-14-353-029
Zoning: CBD - CENTRAL BUSINESS DISTRICT
Retail Clientele: General, Business
Property Located Between: N. Union and Loomis Streets
Property Visibility: Excellent
Largest Nearby Street: N. Union
Highway Access: From I-96 and Alpine Ave, North on M-37 (Alpine) to E Division Street in Sparta. Right on E Division to property on left.
Site Description: Adjacent to large public parking lot.
Area Description: Retail and office general business on main street in downtown Sparta.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Roof Type: Flat
Construction/Siding: Brick, Wood Siding
Exterior Description: Block with glass windows.
Total Parking Spaces: 20
Parking Type: Surface
Parking Description: City-maintained public parking lot adjacent to building.
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: The building is divided into 3 suites, with separate entrances. The space for lease has a very large open area and multiple closed-door offices.
Zoning Description: CBD Zoning (Central Business District) Permitted Uses In the CBD no building or land shall be used and no building shall be erected except for one or more of the following specified uses, unless otherwise provided in this division: • Comparison retail stores selling commodities including but not limited to food, drugs, liquor, furniture, clothing, dry goods notions, gifts or hardware and using no more than 20 percent of the usable floor area for repair facilities. • Financial institutions with or without drive-through service. • Executive, administrative and professional offices. • Personal service establishments. • Restaurants, bars or taverns, not including drive through service. • Outdoor seating areas incidental to the primary restaurant, bar or tavern business may be permitted where patrons are served, pursuant to section 82-128, outdoor dining/seating. Hotels and motels. • Off-street parking facilities. • Offices and showrooms of contractors, decorators or similar trades in connection with whom not more than 25 percent of the usable floor area of the building or part of the building occupied by such establishment is used for making, assembling, repairing, remodeling, altering, finishing or refinishing the products or merchandise of the trade. • All storage of materials shall be within the confines of the building or part thereof occupied by such establishment.
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,151 11,481 22,045
Median Age: 34.72 36.62 37.24
Households: 1,639 4,244 7,952

Contact

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