Building Details

Year Built 1957

Listing Agency: NAI Wisinski of West Michigan

Listed By: Kurt Kunst · License #6502343182 Show Phone

Source: Carwm.resimplifi

Added: Sep 14 Changed: Oct 13 Last Checked: Oct 13 at 2:17AM

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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 NAI Wisinski of West Michigan

Investment Insights

Based on property information with market context.

This 2,040-square-foot storefront property at 411 Leonard St NW was built in 1957. The site carries TN-TBA zoning and is positioned alongside Brann’s Steak House.

Leonard Street frontage places the property near the US-131 exit, providing access to the highway corridor.

Key Highlights

• 2,040‑square‑foot storefront property
• Built in 1957
• TN‑TBA zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$29,571

Cap Rate

4.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$591,420 $591.4K

Cap Rate 7%

$422,443 $422.4K

Cap Rate 9%

$328,567 $328.6K

Market Conditions

NOI Build-Up for 2,040 SF

Gross rent

$44.8K $21.96/SF

− Vacancy

−$2.6K −$1.25/SF

EGI

$42.2K $20.71/SF

− OpEx

−$12.7K −$6.21/SF

NOI

$29.6K $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%

$591,420

Cap Rate 7%

$422,443

Cap Rate 9%

$328,567

Alternative Uses

Best Use

Retail

$422.4K

$369.6K – $492.9K (±1% cap)

NOI $29,571 @ 7.0% cap · market cap 4.94%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$473.4K

$414.3K – $552.3K (±1% cap)

NOI $33,140 @ 7.0% cap · market cap 5.53%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

DeVries Jewelry Store (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Dental Office Restaurant Building Supply Pharmacy Nail Salon Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,238

Businesses Nearby

67k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 75% Dining 25%

Speedway Shops & Services

19,912 visits/mo 0.1 miles

Taco Bell Dining

15,950 visits/mo 0.1 miles

Marathon Shops & Services

7,487 visits/mo 0.4 miles

Family Dollar Shops & Services

6,553 visits/mo 0.4 miles

Family Dollar Shops & Services

5,037 visits/mo 0.2 miles

Demographics for 49504, MI

41,249

Population

18,830

Households

2.2

Avg Household Size

33

Median Age

39%

College-Educated

90%

High-School Grad

11.1 sq mi

ZIP Area

3,716

Density / Sq Mi

$68,326

Median Household Income

$41,138

Median Earnings

$1,145

Median Rent

$222,600

Median Home Value

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - A commercial storefront on Leonard Street near the US-131 exit, with adjacent Brann’s Steak House.

Where is this storefront property located?

The property is located at 411 Leonard St NW Grand Rapids, MI.

What is the asking price?

The asking price for this property is $599,000.

What are key features of this property?

This property features: 2,040‑square‑foot storefront property; Built in 1957; TN‑TBA zoning