28th St. Retail Building

Retail-Commercial for Sale
Catylist Listing ID: 30769497
Property Subtypes: Free-Standing Building, Retail-Pad, Street Retail
Building Size (RSF): 30,000 SF
Gross Building Area: See Agent
Gross Land Area: 1 - 1.25 Acres
Sale Price: $1,650,000
Unit Price: $55 PSF
Property Use Type: Vacant/Owner-User
Building Name: The Former Williams Furniture Store
Usable Size (USF): 30,000 SF
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 1/22/2022

Overview / Comments

Formerly occupied by the very successful William's Furniture Store for 67 years, with sales of more than $6,000,000/year, the store closed after the owner died. The property can be utilized as another furniture store or any business looking for great exposure on 28th street. This retail building has been completely renovated and is in excellent condition. It has more than 400 feet of frontage on busy 28th St., and the full glass windows across the entire front of the store provides outstanding visibility. The store also has a finished lower level that can be utilized as either retail or storage space, and an operating freight elevator just off the loading dock. The floor plan is wide open, and can accommodate any business, product or service.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: 28th Street Central
Taxing Authority: Township of Wyoming
Tax ID/APN: 41-17-13-226-011
Zoning: COMMERCIAL
Retail Clientele: General, Family, Business, Recreation
Property Located Between: Division Ave. and US-131
Property Visibility: Excellent
Largest Nearby Street: Division Ave.
Feet of Frontage: 350
Traffic/Vehicle Count: 36,142
Highway Access: 2 blocks from US-131
Site Description: The adjacent parking lot, located between the property and Walgreens, was also purchased and is available to the tenant at no additional cost.
Area Description: 28th Street is "The Address" for retail in Grand Rapids. Located on 28th Street nearly equidistant between I-96 and I-196, and immediately off US-131 (which goes directly into downtown), you couldn't ask for a more central location in Grand Rapids. Grand Rapids is recognized as: "The Most Sustainable Midsize City in America" by the US Chamber of Commerce The "Fastest Growing Region in the Upper Midwest!" One of the "20 Strongest Performing American Metropolitan Areas" by Metro Monitor
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 15,000 SF
Property Condition: Excellent
Year Renovated: 2021
Roof Type: Flat
Construction/Siding: Block
Exterior Description: The exterior is mostly glass frontage on freshly painted block, with new decorative LED lights. The sides are available for advertising. There is also a large monument sign available for advertising.
Parking Type: Surface
Parking Description: More than ample parking is located on both sides of the building and in front.
Passenger Elevators: 1
Freight Elevators: 1
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central, Ceiling Units
Air Conditioning: Engineered System
Zoning Description: Commercial zoning allows for a myriad of businesses and/or retail use
Lot Frontage: 416'
Lot Depth: 135'
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Easements Description: Utility easements only
Legal Description: Available upon request

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,768 143,936 306,529
Median Age: 30.5 32.05 33.16
Households: 5,348 51,673 116,410

Contact

Photograph of Listing Agent

Scott Griffin

Griffin Properties
CARWM Member
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