407 Turner Avenue NW, Grand Rapids, MI 49504
COMMERCIAL - Grand Rapids, MI
- Added:
- Oct 6, 2021
- Days on Market:
- 1722
- Last Refresh:
- Jun 23 at 10:06 pm
Property Features for 407 Turner Avenue NW
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Bathrooms
- 1
- Rooms
- Bathroom 1
- Parking
- 40
- Interior features
- Broadband
- Standard status
- Active
- APN
- 41-13-24-384-007
- Size
- 7,316 SF
- Lot size
- 0.32 Acres
Taxes and HOA fees
- Tax Year
- 2021
- Tax Description
- S 35 FT OF LOT 8 BLK 21 & E 1/2 OF GORE LOT 1 BLK 21 * SCRIBNER & TURNER'S ADDITION
- Tax Annual Amount
- 5597
Utilities
- Utilities
- Natural Gas Available
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1963
- Floors in Building
- 1
- Number of units
- 1
- Building materials
- Block, Concrete
- Roof type
- Stone, Rubber
Listing agent Frank N Roberts License #6501385632 (616) 264-3180
Listing office Grand Rapids Realty & Investments LLC 407 Turner Ave, Grand Rapids, MI (419) 494-4008
Listing date Oct 6, 2021
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Built in 1963
- Block and concrete construction
- Forced‑air heating
- Central air cooling
- Broadband available
- Natural gas available; roof materials include stone and rubber
Overview
The listing notes a “City Center Zoning District” that allows up to 20 stories, subject to regulations cited as Article 6 and Article 8 of the zoning. The remarks also reference a “Long Term Stadium District,” with a new amphitheater reported as open now and a soccer stadium expected to open in approximately one year. Free downtown DASH shuttle service is described as running until midnight weekdays and until 1:00 AM Saturdays, with direct access to entertainment venues.
The seller indicates the asset may fit uses such as wedding and event businesses, hospitality support, transportation companies, fleet operations, and contractor headquarters. The remarks further mention that hospitality and self-pour brewery licensing options are available and that brownfield incentives and tax abatements may apply, along with other development-related options. Interested parties should review the stated zoning requirements and the listed licensing and incentive considerations as part of their underwriting.
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 | $160.7k | $21.96 |
| − Vacancy | −$9.2k | −$1.25 |
| EGI | $151.5k | $20.71 |
| − OpEx | −$45.5k | −$6.21 |
| NOI | $106.1k | $14.50 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- ZIA ENTERPRISE — 77 Monroe Center St NW, Grand Rapids, MI 49503
Location Insight
- Map
- Local Demand
- City
- Grand Rapids
- County
- Kent
- State
- Michigan
- Longitude
- -85.679319
- Latitude
- 42.971047
