3128 28th Street SE, Kentwood

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30740861
Property Subtypes: Free-Standing Building, General
Status: Pending/Contingent
Building Size (RSF): 5,000 SF
Gross Land Area: 0.60 Acres
Sale Price: $1,350,000
Unit Price: $270 PSF
Ceiling: 12 ft.
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 7.7%
Last Updated: 7/29/2021

Overview / Comments

The property located at 3128 28th Street SE, Kentwood, Michigan is
a 5,000 SF retail building positioned on 0.6 acres. This property is
right in the heart of West Michigan’s premiere retail corridor, with
neighbors including Whole Foods, REI, Von Maur, and Lowe’s. Pizza
Hut recently completed the build out and commenced a new 11
year NNN lease. Hagopian Cleaning Services has been located in
this building since January of 2018 and has a seven year lease with
options to renew.

Financials

Finance Data Year 2007
Real Estate Taxes - Annual($) $203,800 (Annual)

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: 28th Street Southeast
Tax ID/APN: 41-18-15-228-006
Zoning: C-2
Property Located Between: East Beltline Avenue SE and Radcliff Avenue SE
Property Visibility: Excellent
Feet of Frontage: 65
Site Description: na
Area Description: DIRECTIONS: 28TH ST W OF E BELTLINE, S SIDE OF ROAD.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 5,000 SF
Year Built: 1930
Construction/Siding: Concrete

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,316 91,886 232,895
Median Age: 38.26 35.4 33.47
Households: 4,682 36,111 88,420
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