Freestanding Grocery
For Sale
$975,000
2955 Division Ave S, Grand Rapids, MI 49548
A corner parcel in Wyoming includes on-site parking, a large sign, and equipment that may remain or be removed.
Property Size5,060 SF
Price / SF$192.69
Days on Market26
Property Features for 2955 Division Ave S
General Information
Standard status
Active
Size
5,060 SF
Property subtype
Retail
Zoning
FBC-CG
Site & Location
Neighborhood
Garfield Park
Additional Details
Commercial Hood
Yes
Amenities
Power
Water
Sewer
Natural Gas
Building Details
Year Built
1940
Listing Agency:
Signature Associates
Listed By:
Joe Rizqallah
(616) 235-6007
Source:
Carwm.resimplifi
Added: Oct 5
Changed: Oct 26
Last Checked: Oct 28 at 4:36AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding commercial building contains 5,060 square feet and was built in 1940. It is zoned FBC-CG and has most recently operated as a grocery store. Existing equipment may be included in a sale or taken out, offering flexibility in the building’s delivered configuration. The property also features a newer roof, HVAC, a hood system measuring more than 16 feet and installed less than two years ago, deep fryers, coolers, and other equipment.
The corner site is on Division Avenue in Wyoming, just south of 28th Street. On-site parking and a grandfathered sign are part of the property.
The corner site is on Division Avenue in Wyoming, just south of 28th Street. On-site parking and a grandfathered sign are part of the property.
Key Highlights
- 5,060‑square‑foot freestanding commercial building
- FBC‑CG zoning
- Corner location on Division Avenue, just south of 28th Street, in Wyoming
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,200
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,644,000
$1.6M
Cap Rate 7%
$1,174,286
$1.2M
Cap Rate 9%
$913,333
$913.3K
Market Conditions
NOI Build-Up for 5,060 SF
Gross rent
$115.4K $22.80/SF
− Vacancy
−$5.8K −$1.14/SF
EGI
$109.6K $21.66/SF
− OpEx
−$27.4K −$5.42/SF
NOI
$82.2K $16.25/SF
Area
Grand Rapids, MI
Vacancy
5.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,644,000
Cap Rate 7%
$1,174,286
Cap Rate 9%
$913,333
Alternative Uses
Best Use
Specialty Retail
$1.17M
$1.03M – $1.37M
NOI $82,200 @ 7.0% cap · market cap 8.43%
Second Best
Retail
$1.05M
$916.9K – $1.22M
NOI $73,349 @ 7.0% cap · market cap 7.52%
Theoretical Best
—
—
same as Best Use
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
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
573
Businesses Nearby
36k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 85%
Dining 8%
Hotels & Casinos 6%
Home Improvements & Furnishings 1%
Speedway
Shops & Services
9,914 visits/mo
0.4 miles
Marathon
Shops & Services
7,867 visits/mo
0.3 miles
Dollar General
Shops & Services
6,379 visits/mo
0.4 miles
PNC Bank
Shops & Services
4,193 visits/mo
0.3 miles
Pizza Hut
Dining
3,051 visits/mo
0.3 miles
Demographics for 49548, MI
34,741
Population
13,174
Households
2.6
Avg Household Size
34
Median Age
17%
College-Educated
86%
High-School Grad
10.8 sq mi
ZIP Area
3,217
Density / Sq Mi
$62,218
Median Household Income
$35,831
Median Earnings
$1,129
Median Rent
$149,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Similar Off Market Nearby
- Supermercado Mexico - Division — 3375 Division Ave S Suite A, Wyoming, MI 49548
- Lee's Oriental Market — 3004 Division Ave S, Grand Rapids, MI 49548
- Saigon Market — 141 28th St SE #2, Grand Rapids, MI 49548
- Tiendita las Jarochas — 2850 Division Ave S, Grand Rapids, MI 49548
- Sin Fronteras Supermarket — 2437 Division Ave S, Wyoming, MI 49507
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - A corner parcel in Wyoming includes on-site parking, a large sign, and equipment that may remain or be removed.
Where is this grocery and convenience store located?
The property is located at 2955 Division Ave S Grand Rapids, MI.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 5,060‑square‑foot freestanding commercial building; FBC‑CG zoning; Corner location on Division Avenue, just south of 28th Street, in Wyoming
