Kellogg Woods 3 Unit Commercial / Office

Shopping Center for Sale
Catylist Listing ID: 30381134
Property Subtypes: Community Center, Mixed Use, Neighborhood Center, Net Leased, Strip Center
Building Size (RSF): 15,000 SF
Gross Land Area: 1.02 Acres
Sale Price: $590,000
Unit Price: $39.33 PSF
Ceiling: 12 ft.
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business
Building Name: Joyners Karate and Business Center
Usable Size (USF): 15,000 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 8.5%
Average Occupancy Rate: 85
Last Updated: 3/16/2019

Overview / Comments

Excellent location for this 3 Unit Business Center just East of the US131 and 54th Street interchange at 54th and Division. This solid Kellogg Woods property features 3 separate 5,000. sqft. units. Each business has convenient drive up customer parking, separate utilities, rear overhead doors, restrooms and good storage. Solid building is well maintained, Kentwood approved and has great visibility and signage. The open 5000 Sqft. End cap unit is currently available for lease at $7. MGL and has lots of additional parking, perfect for an owner/business operator/investor. Many new nationals and local business in this Kellogg Woods area with fantastic growth and traffic counts over 17000. Three separate condo units may be possible

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Submarket/Township: 36th/44th St Corridor
Taxing Authority: Kentwood City
Tax ID/APN: 411831101044
Retail Clientele: General, Family, Business, Recreation, Other
Property Located Between: US131 and 54th Street
Property Visibility: Good
Largest Nearby Street: US131 and South Division
Feet of Frontage: 230
Traffic/Vehicle Count: 12,000
Highway Access: Storefront parking on Division for all units, additional parking on end cap and behind units.
Airports: Gerald Ford International
Site Description: Kentwood C-5 Business District
Area Description: Kellogg Woods area of 54th Street at South Division redevelopment area is rapidly growing in this (Kentwood City) area South of Grand Rapids City Center.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 15,000 SF
Property Condition: Good
Year Built: 1968
Year Renovated: 2017
Roof Type: Flat
Construction/Siding: Block, Brick/Vinyl Siding
Exterior Description: Glass, Block and Brick with newer membrane system roof and drainage system.
Parking Type: Surface
Parking Description: Storefront drive up parking for all 3 units, plus overflow end cap parking. flat, paved and well maintained. 30 Spots including ADA plus additional employee parking in the rear.
Total Parking Spaces: 30
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Baseboard, Central, Radiant
Air Conditioning: Package Unit
Internet Access: DSL, ISDN, Satellite, T1/T3
Interior Description: Majority of free span buildings are open space for showroom/offices, storage, utility and restrooms for each of the units. Drywall and hard surface finishes, some carpeting in office and showroom areas, dropped ceilings in showrooms and offices for energy efficiency. Three separate units may be possible as commercial condos.
Zoning Description: Kentwood Mixed Neighborhood Business - C5
Lot Frontage: 230
Lot Depth: 215
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines, Utilities
Easements Description: Consumers Energy typical easement for services to property
Land Ownership: Sole proprietor
Legal Description: W 215 FT OF S 50 FT OF N 225 FT OF THAT PART OF NW 1/4 LYING S OF S LINE OF MILLER PARKWAY * SEC 31 T6N R11W 0.25 A. SPLIT ON 10/25/2016 WITH 41-18-31-101-040, 41-18-31-101-043 INTO 41-18-31-101-044;

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,592 101,839 230,896
Median Age: 34.23 35.28 34.05
Households: 4,870 38,869 86,251
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