Building Details

Building Size 3,040 SF

Year Built 1900

Listing Agency: SVN Ascension

Listed By: Brian Downey · License #OH #2012001418 Show Phone

Source: Svn

Added: Jul 8 Changed: Oct 9 Last Checked: Oct 23 at 3:57AM

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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 SVN Ascension

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This for-sale retail storefront building is currently operating under a sale-leaseback structure with a 10-year modified gross lease in place. Under the lease terms, the tenant covers utilities.

The property is described as the only commercial building currently listed on the market in downtown Grand Rapids, Ohio.

Additional property details beyond the lease structure and retail storefront use were not provided.

Key Highlights

• 10‑year modified gross lease in place with sale‑leaseback
• Tenant covers utilities under the modified gross lease
• Currently the only commercial building on the market in downtown Grand Rapids, Ohio

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,012

Cap Rate

4.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$240,240 $240.2K

Cap Rate 7%

$171,600 $171.6K

Cap Rate 9%

$133,467 $133.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,040 SF

Gross rent

$17.9K $5.88/SF

− Vacancy

−$715 −$0.24/SF

EGI

$17.2K $5.64/SF

− OpEx

−$5.1K −$1.69/SF

NOI

$12.0K $3.95/SF

Area

Wood County, OH

Vacancy

4.00%

Lease Rate

$5.88 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$240,240

Cap Rate 7%

$171,600

Cap Rate 9%

$133,467

Alternative Uses

Best Use

Retail

$171.6K

$150.2K – $200.2K (±1% cap)

NOI $12,012 @ 7.0% cap · market cap 4.80%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$708.1K

$619.6K – $826.1K (±1% cap)

NOI $49,566 @ 7.0% cap · market cap 19.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Snyder’s Pizza Restaurant

Suggested Use

Top Pick Building Supply Dental Office Auto Repair Shop Law Firm Storage Facility Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

155

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 43522, OH

3,249

Population

1,468

Households

2.2

Avg Household Size

46

Median Age

23%

College-Educated

94%

High-School Grad

31.2 sq mi

ZIP Area

104

Density / Sq Mi

$77,076

Median Household Income

$37,201

Median Earnings

$1,058

Median Rent

$196,500

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Similar Off Market Nearby

• The Garden Gate Flowers & Gifts — 24149 Front St, Grand Rapids, OH 43522

Frequently Asked Questions

What type of property is this?

Storefront property - Retail storefront building for sale with a 10-year modified gross lease in place.

Where is this storefront property located?

The property is located at 24098 Front St Grand Rapids, OH.

What is the asking price?

The asking price for this property is $250,000.

What are key features of this property?

This property features: 10‑year modified gross lease in place with sale‑leaseback; Tenant covers utilities under the modified gross lease; Currently the only commercial building on the market in downtown Grand Rapids, Ohio