Corner Retail/Development Assemblage
14345 Ironwood Drive NW Grand Rapids, MI 49534
14345 Ironwood Drive NW, Grand Rapids, MI, 49534
$4,990,000
For Sale
$4,990,000
Corner assemblage includes multiple parcels, road frontage, and existing improvements with a commercial building and homes.
Property Size14,430 SF
Lot Size9.39 Acres
Price / SF$345.81
Days on Market16
Property Features for 14345 Ironwood Drive NW
General Information
- Standard status
- Active
- Size
- 14,430 SF
- Lot size
- 9.39 Acres
Building Details
- Year Built
- 2001
Listing agency
(616) 512-2669
Listed by
Daniel Bradley
(616) 512-2669
Source
Grhomegroup.idxbroker
Added: Jul 6 Updated: Jul 20 at 6:29PM Checked: Jul 21 at 3:03AM
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 Daniel Bradley
Investment Insights
Based on property information with market context.
This offering is a complete assemblage of eight contiguous parcels totaling approximately 19.39 acres at a highly visible corner of Ironwood Drive (M-11) and 8th Avenue in Marne, Michigan. The package includes approximately 1,550 feet of combined road frontage and roughly 14,430 square feet of existing improvements, including a 6,504-square-foot commercial building and five residential homes.
The site sits along the Ironwood Corridor with convenient access to I-96. Included tax parcels are 70-10-01-151-001, 70-10-01-151-002, 70-10-01-151-004, 70-10-01-151-005, 70-10-01-151-007, 70-10-01-151-031, 70-10-01-151-034, and 70-10-01-151-038.
The property is presented for a range of redevelopment concepts; however, the buyer must verify zoning, permitted uses, and development requirements.
The site sits along the Ironwood Corridor with convenient access to I-96. Included tax parcels are 70-10-01-151-001, 70-10-01-151-002, 70-10-01-151-004, 70-10-01-151-005, 70-10-01-151-007, 70-10-01-151-031, 70-10-01-151-034, and 70-10-01-151-038.
The property is presented for a range of redevelopment concepts; however, the buyer must verify zoning, permitted uses, and development requirements.
Key Highlights
- ±9.39‑acre assemblage at the corner of Ironwood Drive (M‑11) and 8th Avenue in Marne, MI.
- Eight contiguous parcels included: 70‑10‑01‑151‑001, -002, -004, -005, -007, -031, -034, and -038.
- Approximately 1,550 ft of combined road frontage and about 14,430 SF of existing improvements.
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 | $316.9k | $21.96 |
| − Vacancy | −$18.1k | −$1.25 |
| EGI | $298.8k | $20.71 |
| − OpEx | −$89.6k | −$6.21 |
| NOI | $209.2k | $14.50 |
14,430 SF · lease $21.96/SF/yr · vacancy 5.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.99M
$2.61M – $3.49M
NOI $209,174 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.35M
$2.93M – $3.91M
NOI $234,415 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Uncle Jim's Jerky ...
Take-out & Catering
Paula's Market
Grocery & Convenience Store
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - Corner assemblage includes multiple parcels, road frontage, and existing improvements with a commercial building and homes.
Where is this commercial land located?
The property is located at 14345 Ironwood Drive NW Grand Rapids, MI.
What is the asking price?
The asking price for this property is $4,990,000.
What are key features of this property?
This property features: ±9.39‑acre assemblage at the corner of Ironwood Drive (M‑11) and 8th Avenue in Marne, MI.; Eight contiguous parcels included: 70‑10‑01‑151‑001, -002, -004, -005, -007, -031, -034, and -038.; Approximately 1,550 ft of combined road frontage and about 14,430 SF of existing improvements.
