28th Street SE Build-to-Suit/Ground Lease Opportunity

Vacant Land for Lease
Also listed as Retail-Commercial
Catylist Listing ID: 910753
Property Subtypes: Retail, Retail-Pad
Gross Land Area: 1.15 Acres
Lease Rate: $150,000 (Annual)
$2.99 PSF (Annual)
Base Monthly Rent: $12,500
Lease Types: Ground Lease
Last Updated: 10/13/2021

Overview / Comments

Centennial Plaza Pad Site is an approximately 1.15-acre build-to-suit/ground lease opportunity in the heart of the Cascade retail corridor. This is prime real estate for a drive thru eatery/café, bank with drive thru access, urgent care, or other retail/medical options. The unparalleled management from The Hinman Company ensures premium service aimed at exceeding expectations. Skilled on-site property management works diligently to ensure the success of users by providing a professional, well-maintained property to compliment the unique needs of their businesses. Additionally, The Hinman Company has its own team of in-house construction and design professionals standing by to help create thoughtfully designed developments. Strategically located along 28th Street SE, the site offers unmatched brand exposure with visibility to over 27,345 daily drivers on Charlevoix Drive SE and 28th Street SE. The site also benefits from the area’s dense retail including Walmart, Meijer, Costco, and Target nearby. Synonymous with experiential dining and destination shopping, Woodland Mall is a seven-minute drive. Customers will appreciate the easy ingress and egress through multiple entrances in addition to ample parking and a signalized intersection. Users will benefit from the location’s built-in consumer base that features a mix of demographics. This great location features strong economic demographics that offers all the elements that make for a successful business. In addition to the daytime commuter traffic, a population of over 84,682 people lives within a five-mile radius of the property, with the average household income exceeding $103,459.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: 28th Street Southeast
Submarket Type: Suburban
Taxing Authority: Cascade Township
Tax ID/APN: 41-19-17-102-007
Zoning: PUD - CENTENNIAL PARK OVERLAY ZONING DISTRICT
Property Located Between: 28th Street SE and Charlevoix Drive SE
Property Visibility: Excellent
Largest Nearby Street: 28th Street SE
Feet of Frontage: 233
Traffic/Vehicle Count: 27,345
Highway Access: Interstate 96 - 0.7 Miles , M-6 - 2.9 Miles , US-131 - 11.2 Miles
Airports: Gerald R. Ford International Airport - 4.0 Miles
Area Description: Cascade residents enjoy a mostly quiet suburban atmosphere, filled with large homes and attractive apartment complexes. Located about 15 minutes southeast of Downtown Grand Rapids, the Cascade area has been rapidly growing with a projected population growth of 3.6% over the next five years. Together these residents make up a total annual consumer spending of over $3.27 billion, almost $200 million of which was on food and drinking establishments last year. This prominent position and access, along with a high quality of living and friendly business environment, serve to boost the economic growth of Grand Rapids and make it an excellent area to locate a company.
Lot Frontage: 233'
Lot Depth: 216'
Part of Planned Development?: Yes
Development Name: Centennial Park
Topography: Level
Available Utilities: Electric, Water, Gas, Sewer, Storm Drain, Cable, Broadband, Internet Access
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,467 37,611 104,247
Median Age: 47.79 38.01 38.45
Households: 1,143 14,444 40,436

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