Renovated Retail
For Sale
$700,000
311 28th St SE, Grand Rapids, MI 49548
The interior is configured as a white box, with potential to create multiple separate suites.
Property Size3,614 SF
Price / SF$193.69
Days on Market21
Property Features for 311 28th St SE
General Information
Standard status
Active
Size
3,614 SF
Property subtype
Retail
Zoning
C
Site & Location
Neighborhood
Garfield Park
Amenities
overhead door
Water
Sewer
Building Details
Year Renovated
2017
Buildings
1
Listing Agency:
Keller Williams Rivertown
Listed By:
Larry Branscombe
(616) 299-6846
Source:
Carwm.resimplifi
Added: Oct 10
Changed: Oct 26
Last Checked: Oct 28 at 4:40AM
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 Rivertown
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Investment Insights
Based on property information with market context.
This 3,614-square-foot retail property was renovated in late 2017. The interior was finished as a white box, and the building can be divided into two or three units. An overhead door at the west end supports delivery access. Exterior work included landscaping, facade improvements, and resealing and restriping the parking lot. The property is zoned C.
The building fronts 28th Street and sits across from Kellogg’s production campus. Its open-plan layout and overhead door are among the property’s existing physical features.
The building fronts 28th Street and sits across from Kellogg’s production campus. Its open-plan layout and overhead door are among the property’s existing physical features.
Key Highlights
- 3,614 square feet of retail space
- Renovated in late 2017, with a white‑box interior
- Can be divided into two or three units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,388
Cap Rate
7.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,047,760
$1.0M
Cap Rate 7%
$748,400
$748.4K
Cap Rate 9%
$582,089
$582.1K
Market Conditions
NOI Build-Up for 3,614 SF
Gross rent
$79.4K $21.96/SF
− Vacancy
−$4.5K −$1.25/SF
EGI
$74.8K $20.71/SF
− OpEx
−$22.5K −$6.21/SF
NOI
$52.4K $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%
$1,047,760
Cap Rate 7%
$748,400
Cap Rate 9%
$582,089
Alternative Uses
Best Use
Retail
$748.4K
$654.9K – $873.1K
NOI $52,388 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$838.7K
$733.9K – $978.5K
NOI $58,709 @ 7.0% cap · market cap 8.39%
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
Location Intelligence
Trade Area within ½ mile
701
Businesses Nearby
86k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 42%
McDonald's
Dining
26,124 visits/mo
0.1 miles
Dollar Tree
Shops & Services
16,787 visits/mo
0.5 miles
BP
Shops & Services
13,911 visits/mo
0.1 miles
Taco Bell
Dining
11,604 visits/mo
0.2 miles
Checkers
Dining
7,846 visits/mo
0.1 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
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Retail space - The interior is configured as a white box, with potential to create multiple separate suites.
Where is this retail space located?
The property is located at 311 28th St SE Grand Rapids, MI.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 3,614 square feet of retail space; Renovated in late 2017, with a white‑box interior; Can be divided into two or three units
