High Profile Retail / Service Building

Shopping Center for Sale
Catylist Listing ID: 29979854
Property Subtypes: Neighborhood Center, Strip Center
Building Size (RSF): 16,992 SF
Gross Building Area: See Agent
Gross Land Area: 1.40 SF
Sale Price: $899,000
Unit Price: $52.91 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 9.4%
Average Occupancy Rate: 100
Last Updated: 4/2/2019

Overview / Comments

High profile retail / service building for sale. Low taxes and operating costs.
Wet sprinkler system
Roof recently replaced
New tenant buildouts in 2018
Resurfaced parking lot in 2017
New rooftop cooling unit in 2017
New LED lighting on building exterior in 2017
High traffic corridor along The Rapid ‘Silver Line’ bus route
Easy access via 2 points of ingress/egress
Convenient to US-131 & all areas of Greater Grand Rapids

Current Tenants

Tenant Business Name BayMark Health Services
Website URL https://baymark.com/
Industry Type Health Care and Social Assistance
Is Renting? Yes
Suite Number A
SF of Space Occupied 5,335 SF
Tenant Business Name Restoring Faith Ministries
Website URL http://www.restoringfaithministries.com/
Industry Type Other Services
Is Renting? Yes
Suite Number B
SF of Space Occupied 11,637 SF

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Submarket/Township: 36th/44th St Corridor
Taxing Authority: City of Kentwood
Tax ID/APN: 41-18-31-103-068
Zoning: C-2
Retail Clientele: General, Family, Business
Property Visibility: Excellent
Largest Nearby Street: Division
Highway Access: US-131 5 minutes
Airports: Gerald R Ford International Airport 15 minutes
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 1685
Year Renovated: 2017
Parking Type: Surface
Parking Description: Lighted parking
Sprinklers: Wet
Interior Description: Large open area excellent for showroom or cubicles with several offices in the rear; large perimeter windows and glass doors provide abundant natural light.
Zoning Description: General commercial

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,181 96,153 223,608
Median Age: 33.65 35.54 34.2
Households: 4,524 36,599 83,896

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