52ND and Division 3 Unit Storefront

Shopping Center for Sale
Catylist Listing ID: 30565823
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, Business
Building Name: Joyners Business Center
Usable Size (USF): 15,000 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage, Owner Financing
Cap Rate: 7.0%
Average Occupancy Rate: 85
Last Updated: 9/9/2020

Overview / Comments

Excellent 52nd Street corridor location for this 3 Unit Business Center just East of the US131 interchange at 52nd and Division. This solid Kellogg Woods property features three 5,000. sqft. units that could be possibly split or condo as they have good separation and separate utilities.. Each business has convenient drive up customer parking, good mechanicals, rear overhead doors, restrooms and good storage. Solid building is well maintained, Kentwood approved and has great visibility and signage. Lots of additional parking, perfect for a wide variety of new business including business office, retail sales, service and contractor, antiques, specialty shop and others. Many new nationals and local business in this 52nd Street corridor with fantastic growth and traffic counts over 17000.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: 36th/44th St Corridor
Taxing Authority: Kentwood City
Tax ID/APN: 411831101044
Zoning: NEIGHBORHOOD BUSINESS KENTWOOD C5
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: 17,000
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: Average
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 separate units or 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: Typical Consumers Energy and road easements.
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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