53 Commerce Ave SW

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30151265
Property Subtypes: Restaurant, Tavern/Bar/Nightclub
Status: Pending
Building Size (RSF): 5,000 SF
Gross Building Area: See Agent
Sale Price: $1,292,857
Unit Price: $258.57 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 7.0%
Last Updated: 6/13/2018

Overview / Comments

Located in downtown Grand Rapids and available for sale to qualified investors. 53 Commerce to be sold - real estate only. Situated in the heart of downtown Grand Rapids' Entertainment District, this asset offer an investor the security of both long-term, contractually increasing cash flow. Contact Listing Agents for Offering Memorandum details.

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Submarket/Township: Central Business District
Taxing Authority: City of Grand Rapids
Tax ID/APN: 41-13-25-435-009
Tenancy: Single Tenant
Total Number of Buildings: 1

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 18,001 151,719 288,877
Median Age: 28.23 30.75 33.6
Households: 8,482 56,561 110,829


Photograph of Listing Agent

David S. Rapp

Colliers International
CARWM Member
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