1850 28th Street SE, Grand Rapids, MI 49508 (MLS# 25016435)
1850 28th Street SE, Grand Rapids, MI 49508
$1,340,000
Property Type:
Commercial Sale
Square Footage:
20,340
Lot Size (sq. ft.):
157,034
Status:
Sold
Current Price:
$1,575,000
List Date:
4/19/2025
Last Modified:
1/26/2026
Overview
Description
*PRICE REDUCED* Great opportunity for a fully leased automotive retail Grand Rapids commercial property with desirable 28th Street frontage plus additional appx 75,000 sq/ft (289x262) of land area for possible venture/expansion (i.e storage facility/your location building) There is current investment buildout in this 28th/Kzoo area! This is a turn-key cashflow investment opportunity with owner operator possibilities. Suite 500 has potential to be split into 2 suites as previous for additional rents. (500 & 550) A Suite is available for Owner Operator! Roof updated 2011. Environmental done 2020: no corrective actions necessary. 2020 appraisal ($1,375,000) adjusting for rents appx 35% more puts estimated value much higher ($1,850,000) than asking price making this a deal! Appx 9% cap rate at asking price. Current total lease at $15,500/monthly gross lease ($186,000 annually) Appx $146,000 cashflow a year with current leases and expenses. See supplement and attached. Call for more info.
Supplements: ... (Read more)
Listing Details MLS# 25016435
Location Property Info
- County
- Kent
- Street #
- 1850
- Street Name
- 28th
- Suffix
- Street
- Post Direction
- SE
- State
- MI
- Zip Code
- 49508
General Property Info
- New Construction
- No
- Lot Measurement
- Acres
- Lot Acres
- 3.61
- Lot Square Footage
- 157034
- Lot Dimensions
- see map
- Year Built
- 1988
- Road Frontage
- 400
- Mineral Rights
- Unknown
- Year Remodeled
- 1992
- Total # Units
- 6
- # Fin Bldg Lvls
- 20340
- Total # Bldgs
- Yes
- Total SqFt
- 20340
- Total Net SqFt
- 20340
- Property Use Type
- Net Leased (nnn)
- Waterfront
- No
- School District
- Grand Rapids
Tax Info
- Tax ID #
- 41-18-16-126-005
- Taxable Value
- 580692
- SEV
- 892600
- For Tax Year
- 2024
- Seller's Annual Property Tax
- 30928
- Tax Year
- 2024
- Spec Assessment & Type
- None Known
- Non-Conforming Use
- No
- Zoning
- C-2 Commercial
- Homestead %
- 0
Remarks Misc
- Directions
- South side of 28th Street between Kalamazoo Ave and Breton.
Status Change Info
- Under Contract Date
- 2025-12-23
- Sold Date
- 2026-01-23
- Sold Price/SqFt
- 65.88
More Information
Additional Details
- Total Parking Spaces
- 50
- Grd Lvl OH Doors
- 28
- Ceiling Height
- 14
Income and Expenses
- Annual Maint ($)
- 2400
- Annual Prop Ins ($)
- 3800
- Annual Utilities ($)
- 4860
- Gross Op Income ($)
- 186000
- Net Operating Income
- 136412
- Operating Expense
- 41988
Location & Property Info
- Cross Streets
- kzoo/breton
- Property Sub-Type
- Industrial
- Area
- Grand Rapids - G
- Municipality
- City of Grand Rapids
- Principal Road
- Yes
- Ownership Type
- Corporate Owned
Office/Contract Info
- Auction or For Sale
- For Sale
- List Price/SqFt
- 77.43
- Prop Avail for Lease?
- No
- Current Bldg Use
- Retail/Automotive/Industrial
Remarks & Misc
- Public Remarks
- *PRICE REDUCED* Great opportunity for a fully leased automotive retail Grand Rapids commercial property with desirable 28th Street frontage plus additional appx 75,000 sq/ft (289x262) of land area for possible venture/expansion (i.e storage facility/your location building) There is current investment buildout in this 28th/Kzoo area! This is a turn-key cashflow investment opportunity with owner operator possibilities. Suite 500 has potential to be split into 2 suites as previous for additional rents. (500 & 550) A Suite is available for Owner Operator! Roof updated 2011. Environmental done 2020: no corrective actions necessary. 2020 appraisal ($1,375,000) adjusting for rents appx 35% more puts estimated value much higher ($1,850,000) than asking price making this a deal! Appx 9% cap rate at asking price. Current total lease at $15,500/monthly gross lease ($186,000 annually) Appx $146,000 cashflow a year with current leases and expenses. See supplement and attached. Call for more info.
- Legal
- lengthy legal attached
Street Type
- Paved
- Yes
- Public
- Yes
Property Use
- Investment
- Yes
Utilities Attached
- Electricity Connected
- Yes
- Natural Gas Connected
- Yes
- Phone Connected
- Yes
Sewer
- Public Sewer
- Yes
Water
- Public Water
- Yes
Uses
- Auto Service
- Yes
- Professional Service
- Yes
- Retail
- Yes
- Storage
- Yes
- Other
- Yes
Construction Type
- Concrete
- Yes
Exterior Material
- Block
- Yes
Heat Source
- Natural Gas
- Yes
Sale Conditions
- None
- Yes
Ownership
- LLC
- Yes
Below Grade
- None
- Yes
Heat Type
- Radiant
- Yes
Business Includes
- Non-Applicable
- Yes
Util Avail at St
- Electricity Available
- Yes
- Natural Gas Available
- Yes
- Phone Available
- Yes
Driveway
- Paved
- Yes
Purchase Terms Avail
- Cash
- Yes
- Conventional
- Yes
Possession
- Close Of Escrow
- Yes
- Subject To Tenant Rights
- Yes
Property Features
Property Use:
Investment
Uses:
Auto Service; Professional Service; Retail; Storage; Other
Ownership:
LLC
Business Includes:
Non-Applicable
Construction Type:
Concrete
Exterior Material:
Block
Below Grade:
None
Sewer:
Public Sewer
Water:
Public Water
Utilities Attached:
Electricity Connected; Natural Gas Connected; Phone Connected
Util Avail at St:
Electricity Available; Natural Gas Available; Phone Available
Heat Source:
Natural Gas
Heat Type:
Radiant
Driveway:
Paved
Street Type:
Paved; Public
Purchase Terms Avail:
Cash; Conventional
Sale Conditions:
None
Possession:
Close Of Escrow; Subject To Tenant Rights
GIS Map w/ estimated measurements ›
Listing Office:
Bialik Real Estate LLC
Listing Agent:
Nathaniel R Bialik
Last Updated: January - 26 - 2026
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