Downtown Retail Storefront
24098 FRONT ST Grand Rapids, OH 43522
For Sale
Contact for pricing
Retail storefront building for sale with a 10-year modified gross lease in place.
Property Size3,040 SF
Price / SF$82.24
Days on Market19
Property Features for 24098 FRONT ST
General Information
- Standard status
- Active
- Size
- 3,040 SF
- Property subtype
- RETAIL
Listing Agency:
SVN Ascension
(419) 466-6690
Listed By:
Brian Downey · License ##2012001418
(419) 466-6690
Source:
Moodyscre
Added: Jul 6
Changed: Jul 23
Last Checked: Jul 23 at 4:10PM
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
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.
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 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 | $17.9k | $5.88 |
| − Vacancy | −$715 | −$0.24 |
| EGI | $17.2k | $5.64 |
| − OpEx | −$5.1k | −$1.69 |
| NOI | $12.0k | $3.95 |
3,040 SF · lease $5.88/SF/yr · vacancy 4.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$171.6K
$150.2K – $200.2K
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
NOI $49,566 @ 7.0% cap · market cap 19.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Snyder’s Pizza
Restaurant
Similar Off Market Nearby
- The Garden Gate Flowers & Gifts — 24149 Front St, Grand Rapids, OH 43522
FAQs
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
