128 28th SW Street, Grand Rapids, MI 49548
Fully equipped restaurant for sale with recent upgrades.
- Added:
- Aug 1, 2023
- Days on Market:
- 1046
- Last Refresh:
- May 19 at 8:59 pm
Property Features for 128 28th SW Street
General Information
- Standard status
- Active
- Size
- 2,460 SF
- Lot size
- 0.18 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1980
Listing agent Thomas J Elhart License #6502112925 (616) 396-7788
Listing office Signature Associates Holland (616) 396-7788
Listing date Aug 1, 2023
Source Exitrealty
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 Signature Associates Holland
HighLights
- Full turn‑key establishment with 25+ years in business.
- Fully equipped, including 16' hood system, tables, and prep‑tables.
- Recent $45,000 investment in new Air Makeup System, Hood System & Fans.
- High sales potential: can do over half a million in sales for lunch and dinner only.
- Newer Furnace (2017), HVAC, roof, and tankless water system (2018).
- Year Built: 1980.
Overview
Local Financial Insights For Specialty 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 | $56.1k | $22.80 |
| − Vacancy | −$2.8k | −$1.14 |
| EGI | $53.3k | $21.66 |
| − OpEx | −$13.3k | −$5.42 |
| NOI | $40.0k | $16.25 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Grand Rapids
- County
- Kent
- State
- Michigan
- Longitude
- -85.6695
- Latitude
- 42.9129
