4500 SF Corner Plaza

Retail-Commercial for Sale
Catylist Listing ID: 30757903
Property Subtypes: Free-Standing Building, Street Retail
Building Size (RSF): 4,480 SF
Gross Building Area: See Agent
Gross Land Area: 0.65 Acres
Sale Price: $349,900
Unit Price: $78.10 PSF
Ceiling: 12 ft.
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/26/2021

Overview / Comments

Huge upside for this 4,480 SF corner Plaza. The building consists of two long term tenants, Cove Pools and Wash Time Coin Laundry, with rents well below market rate. There is the possibility to purchase the Coin Laundry, due to owners retiring, and increase your investment. Located on the NE corner of Plainfield and 5 Mile.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: Plainfield Corridor
Taxing Authority: Plainfield Township
Tax ID/APN: 41-10-27-376-018
Zoning: C-1
Retail Clientele: General, Business
Property Located Between: Corner of 5 Mile and Plainfield
Property Visibility: Good
Largest Nearby Street: 5 Mile
Feet of Frontage: 182
Site Description: Located on the corner of 5 Mile and Plainfield
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Average
Year Built: 1980
Roof Type: Flat
Construction/Siding: Block
Total Parking Spaces: 20
Parking Type: Surface
Parking Description: Parking lot at building12
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Lot Frontage: 182
Lot Depth: 144
Water Service: Municipal
Sewer Type: Municipal
Legal Description: PART SW 1/4 COM 61.95 FT 90D 00M E ALONG N LINE OF 5 MILE RD /66 FT WIDE/ FROM CL OF N BOUND LANE OF PLAINFIELD AVE TH 90D 00M E ALONG N LINE OF SD RD 182.13 FT TH N 14D 25M E PAR WITH SD CL 143.76 FT TH N 79D 22M W TO ELY LINE OF SD AVE TH S 14D 25M W TO BEG * SEC 27 T8N R11W 0.66 A.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,450 45,925 125,202
Median Age: 38.94 40.16 35.62
Households: 3,756 18,173 48,334

Contact

Photograph of Listing Agent

Roger Ackerman

Keller Williams GR North
CARWM Member
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