222 Division Ave

Retail-Commercial for Sale
Catylist Listing ID: 30380911
Property Subtypes: Mixed Use, Street Retail
Building Size (RSF): 4,800 SF
Gross Building Area: See Agent
Sale Price: $399,000
Unit Price: $83.13 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/27/2019

Overview / Comments

Hard to find investment property in the Heartside district. Recent capital improvements include: tuck pointing, a new roof, and interior renovations to the upstairs suites. 2018 NOI $32,000. Projected NOI for 2019 is $39,000. short term leases at rental rates at or below market provide room to add value. due to the leasing terms, could be a live/work possibility in the near future.

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Submarket/Township: Central Business District
Taxing Authority: City of Grand Rapids
Tax ID/APN: 41-14-30-351-002
Zoning: C-2
Tenancy: Multiple Tenants
Parking Description: Public Parking

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 21,083 161,106 297,817
Median Age: 27.77 31.09 33.53
Households: 9,200 60,338 114,738


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