Leased Retail
For Sale
$1,364,000
4233 Kalamazoo Ave SE, Grand Rapids, MI 49508
Fully leased retail building occupied by Family Dollar under an extended lease term with renewal options.
Property Size8,640 SF
Price / SF$157.87
Days on Market366
Property Features for 4233 Kalamazoo Ave SE
General Information
Standard status
Active
Size
8,640 SF
Property subtype
Retail
Zoning
C
Occupancy
100%
Building Details
Tenancy
Single
Listing Agency:
Colliers
Listed By:
Jordan Woodcock
(248) 226-1629
Source:
Cpix.resimplifi
Added: Oct 13, 2025
Changed: Oct 3
Last Checked: Oct 12 at 4:40PM
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 Colliers
Investment Insights
Based on property information with market context.
This 8,640 SF retail property is fully leased to Family Dollar and positioned as an outlot within a 120,000-square-foot shopping center. The asset is located in Grand Rapids, Michigan, and carries C zoning.
The lease includes a new 5-year extension with a rent increase, five remaining 5-year options, and 10% increases at each option. More than 240,000 people live within 5 miles, providing a substantial surrounding population base for the established retail setting.
The lease includes a new 5-year extension with a rent increase, five remaining 5-year options, and 10% increases at each option. More than 240,000 people live within 5 miles, providing a substantial surrounding population base for the established retail setting.
Key Highlights
- 8,640 SF retail building fully leased to Family Dollar
- Outlot within a 120,000‑square‑foot shopping center
- New 5‑year lease extension with a rent increase
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$125,244
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,504,880
$2.5M
Cap Rate 7%
$1,789,200
$1.8M
Cap Rate 9%
$1,391,600
$1.4M
Market Conditions
NOI Build-Up for 8,640 SF
Gross rent
$189.7K $21.96/SF
− Vacancy
−$10.8K −$1.25/SF
EGI
$178.9K $20.71/SF
− OpEx
−$53.7K −$6.21/SF
NOI
$125.2K $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%
$2,504,880
Cap Rate 7%
$1,789,200
Cap Rate 9%
$1,391,600
Alternative Uses
Best Use
Retail
$1.79M
$1.57M – $2.09M
NOI $125,244 @ 7.0% cap · market cap 9.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.01M
$1.75M – $2.34M
NOI $140,357 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
47k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 45%
Electronics 1%
McDonald's
Dining
19,006 visits/mo
0.3 miles
Speedway
Shops & Services
13,604 visits/mo
0.2 miles
Family Dollar
Shops & Services
6,438 visits/mo
0.1 miles
Tim Hortons
Dining
3,842 visits/mo
0.2 miles
Papa John's Pizza
Dining
2,317 visits/mo
0.1 miles
Demographics for 49508, MI
41,851
Population
16,583
Households
2.5
Avg Household Size
36
Median Age
33%
College-Educated
88%
High-School Grad
11.8 sq mi
ZIP Area
3,547
Density / Sq Mi
$65,328
Median Household Income
$41,115
Median Earnings
$1,179
Median Rent
$257,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Retail space - Fully leased retail building occupied by Family Dollar under an extended lease term with renewal options.
Where is this retail space located?
The property is located at 4233 Kalamazoo Ave SE Grand Rapids, MI.
What is the asking price?
The asking price for this property is $1,364,000.
What are key features of this property?
This property features: 8,640 SF retail building fully leased to Family Dollar; Outlot within a 120,000‑square‑foot shopping center; New 5‑year lease extension with a rent increase
