1850 28th Street SE, Grand Rapids, MI 49508 (MLS# 25016435)
1850 28th Street SE, Grand Rapids, MI 49508
$1,599,000
Property Type:
Commercial Sale
Square Footage:
20,340
Lot Size (sq. ft.):
157,034
Status:
Active
Current Price:
$1,599,000
List Date:
4/19/2025
Last Modified:
4/24/2025
Description
Great opportunity for a fully leased automotive retail Grand Rapids commercial property with unused land area for possible additional venture/expansion. A Suite could be available for Owner Operator! Approximately 9% cap rate at current asking price. Seller will look at any reasonable offer. Desirable 28th Street frontage across from Indian Trails Golf course between Kalamazoo Ave and Breton. Call for lease info, environmental info, and to schedule a tour. Current monthly gross lease total of $15,500. Environmental done 2020: no corrective actions necessary.
More Information MLS# 25016435
Location Property Info
County: Kent
Street #: 1850
Street Name: 28th
Suffix: Street
Post Direction: SE
State: MI
Zip Code: 49508
Area: Grand Rapids - G
OfficeContract Info
Status: Active
Current Price: $1,599,000
List Price: $1,599,000
Listing Date: 2025-04-19
General Property Info
New Construction: No
Lot Measurement: Acres
Lot Acres: 3.61
Lot Square Footage: 157034
Lot Dimensions: see map
Year Built: 1988
Road Frontage: 400
Mineral Rights: Unknown
Year Remodeled: 1992
Total # Units: 6
# Fin Bldg Lvls: 20340
Total # Bldgs: 1
Total SqFt: 20340
Total Net SqFt: 20340
Property Use Type: Net Leased (nnn)
Waterfront: No
School District: Grand Rapids
Tax Info
Tax ID #: 41-18-16-126-005
Taxable Value: 580692
SEV: 892600
For Tax Year: 2024
Annual Property Tax: 30928
Tax Year: 2024
Spec Assessment & Type: None Known
Non-Conforming Use: No
Zoning: C-2 Commercial
Remarks Misc
Directions: South side of 28th Street between Kalamazoo Ave and Breton.
Additional Details
Total Parking Spaces: 50
Grd Lvl OH Doors: 28
Ceiling Height: 14
Income and Expenses
Annual Maint ($): 2400
Annual Prop Ins ($): 3800
Annual Utilities ($): 4860
Gross Op Income ($): 186000
Net Operating Income: 136412
Operating Expense: 41988
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
Documents
GIS Map w/ estimated measurements ›Listing Office: Bialik Real Estate LLC
Listing Agent: Nathaniel Bialik
Last Updated: April - 24 - 2025
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