407 Turner Avenue NW, Grand Rapids, MI 49504
COMMERCIAL - Grand Rapids, MI
- Added:
- Oct 6, 2021
- Days on Market:
- 1711
- Last Refresh:
- Jun 12 at 8:06 pm
Property Features for 407 Turner Avenue NW
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Bathrooms
- 1
- Rooms
- Bathroom 1
- Parking
- 40
- Interior features
- Broadband
- Standard status
- Active
- APN
- 41-13-24-384-007
- Size
- 7,316 SF
- Lot size
- 0.32 Acres
Taxes and HOA fees
- Tax Year
- 2021
- Tax Description
- S 35 FT OF LOT 8 BLK 21 & E 1/2 OF GORE LOT 1 BLK 21 * SCRIBNER & TURNER'S ADDITION
- Tax Annual Amount
- 5597
Utilities
- Utilities
- Natural Gas Available
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1963
- Floors in Building
- 1
- Number of units
- 1
- Building materials
- Block, Concrete
- Roof type
- Stone, Rubber
Listing agent Frank N Roberts License #6501385632 (616) 264-3180
Listing office Grand Rapids Realty & Investments LLC 407 Turner Ave, Grand Rapids, MI (419) 494-4008
Listing date Oct 6, 2021
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- City Center Zoning District allows for development up to 20 stories.
- Development partnership opportunities available.
- Located in the Grand Rapids Market, which needs 10,000 new housing units.
- Brownfield incentives and tax abatements are available.
- New licenses available for Class C and self‑pour brewery.
- No minimum parking requirements, but parking spots are available.
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $160.7k | $21.96 |
| − Vacancy | −$9.2k | −$1.25 |
| EGI | $151.5k | $20.71 |
| − OpEx | −$45.5k | −$6.21 |
| NOI | $106.1k | $14.50 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Grand Rapids
- County
- Kent
- State
- Michigan
- Longitude
- -85.679319
- Latitude
- 42.971047
