311 28th St SE Grand Rapids, MI 49548
3,900 SF renovated property with 28th Street frontage.
- Added:
- Dec 14, 2021
- Days on Market:
- 1670
- Last Refresh:
- Jun 28 at 10:44 pm
Property Features for 311 28th St SE
General Information
- Standard status
- Active
- Size
- 3,900 SF
- Property subtype
- SCR, SCR-FREE
Listing office Keller Williams Realty Rivertown (616) 299-6846
Listing date Dec 14, 2021
Source Realnex
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 Keller Williams Realty Rivertown
Investment Insights
Based on property information with market context.
Key Highlights
- Renovated in late 2017 with interior brought to a white box.
- Divisible into two or three units as small as 1300 SF.
- Located across the street from Kellogg's production campus.
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 | $85.6k | $21.96 |
| − Vacancy | −$4.9k | −$1.25 |
| EGI | $80.8k | $20.71 |
| − OpEx | −$24.2k | −$6.21 |
| NOI | $56.5k | $14.50 |
