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

View FullscreenMap

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

Contact

© Copyright 2001-2019 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Alliance of REALTORS West Michigan nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.