For Sale
$350,000
2203 Division Ave S, Grand Rapids, MI 49507
Auto shops
Property Size1,840 SF
Price / SF$190.22
Days on Market202
Property Features for 2203 Division Ave S
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Retail
Zoning
TBA
Building Details
Year Built
1929
Listing Agency:
NAI Wisinski of West Michigan
Listed By:
Douglas Taatjes · License #6502343179
(616) 292-1828
Source:
Carwm.resimplifi
Added: Mar 19
Changed: Sep 20
Last Checked: Oct 5 at 3:04PM
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 NAI Wisinski of West Michigan
Investment Insights
Based on property information with market context.
Key Highlights
- Open, functional layout suitable for many uses
- Two overhead doors provide easy access
- Former repair shop
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,672
Cap Rate
7.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$533,440
$533.4K
Cap Rate 7%
$381,029
$381.0K
Cap Rate 9%
$296,356
$296.4K
Market Conditions
NOI Build-Up for 1,840 SF
Gross rent
$40.4K $21.96/SF
− Vacancy
−$2.3K −$1.25/SF
EGI
$38.1K $20.71/SF
− OpEx
−$11.4K −$6.21/SF
NOI
$26.7K $14.50/SF
Area
Grand Rapids, MI
Vacancy
5.70%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$533,440
Cap Rate 7%
$381,029
Cap Rate 9%
$296,356
Alternative Uses
Best Use
Retail
$381.0K
$333.4K – $444.5K
NOI $26,672 @ 7.0% cap · market cap 7.62%
Second Best
Industrial
$274.1K
$239.9K – $319.8K
NOI $19,189 @ 7.0% cap · market cap 5.48%
Theoretical Best
Specialty Retail
$427.0K
$373.6K – $498.2K
NOI $29,891 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
23k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Shops & Services 47%
Electronics 5%
Popeyes Louisiana Kitchen
Dining
10,885 visits/mo
0.3 miles
Mobil
Shops & Services
5,425 visits/mo
0.5 miles
Family Dollar
Shops & Services
5,297 visits/mo
0.1 miles
Boost Mobile
Electronics
1,127 visits/mo
0.2 miles
Demographics for 49507, MI
38,137
Population
13,773
Households
2.8
Avg Household Size
30
Median Age
27%
College-Educated
78%
High-School Grad
5.5 sq mi
ZIP Area
6,934
Density / Sq Mi
$56,578
Median Household Income
$34,939
Median Earnings
$1,114
Median Rent
$179,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Similar Off Market Nearby
- South Division Auto Repair — 2555 Division Ave S, Grand Rapids, MI 49507
- Rapid auto repair & collision — 2531 Division Ave S, Grand Rapids, MI 49507
- Luna Mofles Brakes — 1135 South Division, Grand Rapids, MI 49507
- brockers body shop — 2271 Stafford Ave SW, Grand Rapids, MI 49507
- Corral Tire Shop — 2332 Division Ave S, Grand Rapids, MI 49507
Frequently Asked Questions
Where is this auto shop located?
The property is located at 2203 Division Ave S Grand Rapids, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Open, functional layout suitable for many uses; Two overhead doors provide easy access; Former repair shop
