530 S. State St

Shopping Center for Sale
Catylist Listing ID: 30557190
Property Subtypes: Mixed Use, Neighborhood Center, Strip Center
Building Size (RSF): 25,756 SF
Gross Building Area: See Agent
Gross Land Area: 2.57 Acres
Sale Price: $1,995,000
Unit Price: $77.46 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/18/2020

Overview / Comments

Excellent Investment opportunity being offered at an 8.95 cap rate. All the tenants are well-established and have been long term occupants. The building, 25,756 SF, has been extremely well maintained with a new roof and resurfaced parking lot in the last 5-10 years. Tenants include: Social Security Office, Department of Human Services, Mel Trotter, Intercare, and the Back Shop. Enjoy steady cash flow and little to no maintenance from day 1. Call listing agents for further details.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Tax ID/APN: 41-05-23-351-041
Property Visibility: Good
Feet of Frontage: 353
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Parking Type: Surface
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,128 9,110 23,588
Median Age: 34.59 35.72 37.87
Households: 1,235 3,424 8,506
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