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    Grand Rapids Retail Investment Opportunity Title is generated by Realmo AI

    330 Ann St NW, Grand Rapids, MI

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    NNN leased retail building with long-term tenant and highway access.

    Type:RETAIL
    Property size:
    22,509 SF
    Lot size:
    2.18 Acres
    Price / SF:
    $199/SF
    Added:
    Mar 27, 2024
    Days on Market:
    811
    Last Refresh:
    May 20 at 9:31 pm

    Property Features for 330 Ann St NW

    General Information

    Standard status
    Active
    Size
    22,509 SF
    Lot size
    2.18 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Danny Samona
    Danny Samona

    Listing agent Danny Samona License #6501387591

    Listing office Encore Real Estate Investment Services

    Listing date Mar 27, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Encore Real Estate Investment Services

    HighLights

    • Long term absolute NNN lease with no landlord obligations
    • Exclusive Cookies Cannabis license serving the Grand Rapids MSA
    • 15 year lease with 3% annual increases in term & option periods
    • Completely renovated in 2023
    • 16,000+ VPD - High traffic counts and entrance/ exit to highway
    • 22,509 SF building on 2.18 acres

    Overview

    This is a retail property featuring a long-term absolute NNN lease with no landlord obligations. The lease term is 15 years, with 3% annual increases in both the term and option periods. The property holds an exclusive Cookies license, serving the Grand Rapids MSA as the only site to sell Cookies cannabis. The building, which was completely renovated in 2023, measures 22,509 square feet and is situated on a 2.18-acre lot. The property is offered at a price per square foot of $199, which is below replacement value. It benefits from high traffic counts, with over 16,000 vehicles per day, and offers entrance and exit access to the highway.

    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 $494.3k $21.96
    − Vacancy −$28.2k −$1.25
    EGI $466.1k $20.71
    − OpEx −$139.8k −$6.21
    NOI $326.3k $14.50
    22,509 SF · lease $21.96/SF/yr · vacancy 5.70% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $4.66M
    $4.08M – $5.44M (±1% cap)
    NOI $326,286 @ 7.0% cap · market cap 7.25%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Specialty Retail
    $5.22M
    $4.57M – $6.09M (±1% cap)
    NOI $365,659 @ 7.0% cap · market cap 8.13%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    United Wholesale Grocery ... Grocery & Convenience Store Cookies Grand Rapids ... (Bike/Boat/Book/etc) Store Noxx Ann St. (Bike/Boat/Book/etc) Store Orion Construction General Contractor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.6775
    Latitude
    42.995

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    FAQs

    What type of property is this?
    Retail space - NNN leased retail building with long-term tenant and highway access.
    Where is this retail space located?
    The property is located at 330 Ann St NW Grand Rapids, MI.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: Long term absolute NNN lease with no landlord obligations; Exclusive Cookies Cannabis license serving the Grand Rapids MSA; 15 year lease with 3% annual increases in term & option periods
    (248) 702-0286 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Danny Samona
    Danny Samona
    Real Estate License ID: 6501387591
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