100% Occupied East Grand Rapid Investment Property

Office for Sale
Catylist Listing ID: 30421676
Property Subtypes: Business Park, Executive Suites, Medical, Net Leased, Office Building, Other
Building Size (RSF): 4,272 SF
Gross Building Area: See Agent
Sale Price: $564,000
Unit Price: $132.02 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/3/2019

Overview / Comments

Fully occupied, East Grand Rapids Investment for Sale. A nice mix of Medical, professional, and small businesses make this a great 1031 exchange. Possibility of an owner occupancy, depending of size and timing. Millions of dollars are being invested in this neighborhood. Directly adjacent to Breton Village Mall, and across the street from Starbucks/Freshthyme Market, this could also be a redevelopment property. Neighboring 6,040sf property may also be available. Well maintained building and a fantastic location make this a very safe piece of investment real estate for years to come. CALL OR TEXT TONY AT 616-780-0035 for more information!

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $5,848 (Annual)
Gross Operating Income $54,300 (Annual)
Net Operating Income $42,300 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: East Grand Rapids
Tax ID/APN: 41-18-03-356-003
Zoning: NEIGHBORHOOD OFFICE SERVICE
Property Located Between: Burton & Breton
Property Visibility: Excellent
Roof Type: Gable
Construction/Siding: Brick
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable
Zoning Description: Neighborhood Office Service
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities, Other
Easements Description: Shared access easement
Legal Description: LOT 1 & W 30 FT OF LOT2* PARIS HIGHLANDS

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,806 117,757 272,180
Median Age: 38.61 34.18 33.01
Households: 7,482 46,600 102,606

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