1850 28Th St SE Grand Rapids, MI 49508

This fully leased automotive retail commercial property in Grand Rapids presents an investment opportunity with frontage on 28th Street. The property includes approximately 75,000 square feet (289x262) of additional land area suitable for potential ventures or expansion, such as a storage facility or another building. The property is located in an area with ongoing investment buildout. Suite 500 has the potential to be split into two suites (500 & 550) for additional rental income, and one suite is available for an owner-operator. The roof was updated in 2011. An environmental assessment conducted in 2020 required no corrective actions. The total property size is 20,340 square feet, situated on a 3.61-acre lot. The current total lease is $15,500 per month gross, amounting to $186,000 annually, with approximately $146,000 in annual cash flow after expenses. Tenant 1 pays $9,500 per month total for Suites 100, 200, 300, and 400, with an auto-renewal 3-year lease option and CPI increase, with the next renewal option on 11/4/2026. Tenant 2 occupies Suite 500 (3,112 square feet) on a month-to-month basis. Tenant 3 (Oil Changers) leases Suite 600 (2,100 square feet plus basement) with four more 5-year terms and rent increases, with the next lease renewal option on 4/1/2026 and a new base rent of $4,400. Approximate annual expenses include property tax ($30,928), insurance ($950 quarterly), Consumers Energy ($83 monthly), and water ($322 monthly), totaling approximately $39,588 annually.