INVESTMENT BUILDING WITH PLAINFIELD FRONTAGE

Retail-Commercial for Sale
Catylist Listing ID: 30278067
Property Subtypes: Convenience Store, Free-Standing Building, Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other
Building Size (RSF): 18,000 SF
Gross Building Area: See Agent
Gross Land Area: 1.08 Acres
Sale Price: $623,000
Unit Price: $34.61 PSF
Property Use Type: Investment, Business
Usable Size (USF): 18,000 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 8/28/2018

Overview / Comments

Built in 1956 and remodeled in 1980, with additional updates within the last few years, this free-standing building is currently 100% occupied with long-term tenants. Two leases expire in April 2023 and a third expires in early fall 2018.

This property has been owned by one family for over 60 years and is available for the first time! Building materials are timber frame and a mix of brick, block and siding.

Current Tenants

Tenant Business Name Bella Sposa Bridal
Is Renting? Yes
Tenant Business Name Photographer
Is Renting? Yes
Tenant Business Name Upholsterer

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Submarket/Township: Plainfield Corridor
Taxing Authority: Grand Rapids Township
Tax ID/APN: 41-10-27-252-016
Zoning: 201 COMMERCIAL - IMPROVES
Retail Clientele: General, Business
Property Located Between: Northland Drive (M-37) and
Property Visibility: Excellent
Largest Nearby Street: Northland Drive/M-37
Feet of Frontage: 100
Site Description: Building sits just yards off busy Plainfield Avenue.
Area Description: The property sits on the eastern end of the Plainfield corridor near bustling Northland Drive. Both M-37 and Plainfield corridors offer national and local restaurant chains, general office, large-scale and boutique medical, and big box retailers.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 7,000 SF
Year Built: 1956
Year Renovated: 1980
Parking Type: Surface
Parking Description: Ample parking with new resealed and re-striped surface with new barriers installed on property corner to prevent pass-through traffic from adjacent lots.
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Wall Units
Interior Description: Demised into three distinct units currently but can be modified. A section of the building is two-story.
Zoning Description: Commercial - Improved

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,560 34,352 106,405
Median Age: 41 39.74 36.89
Households: 1,768 13,455 41,156

Contact

Photograph of Listing Agent

Shelby Reno

X Ventures CARWM Member
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