Fully Leased Two-Unit Retail
4342 Division Avenue S Grand Rapids, MI 49548
4342 Division Avenue S, Grand Rapids, MI, 49548
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For Sale
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Two fully leased retail units with built-in 3% annual increases and tenant-paid utilities under modified gross terms.
Property Size5,408 SF
Price / SF$83.21
Days on Market52
Property Features for 4342 Division Avenue S
General Information
- Standard status
- Active
- Size
- 5,408 SF
- Property subtype
- Retail, Office, Industrial
Building Details
- Year Built
- 1940
Listing agency
Colburn Commercial Properties
Listed by
Chad Monroe · License #6501450578
Source
Crexi
Added: Jun 1 Updated: Jul 10 at 1:49PM Checked: Jul 22 at 6:52AM
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Investment Insights
Based on property information with market context.
This for-sale property is a two-unit retail/commercial building configured for separate tenants. The total building size is approximately 5,000 SF and both units are currently leased. Unit 1 is 3,224 SF and Unit 2 is 2,184 SF. The lease structure is described as gross modified, with tenants responsible for all utilities. Both leases include 3% annual increases, supporting consistent rental step-ups over time.
The property is located on Division Avenue South at 44th Street in Kentwood. Public remarks note traffic of approximately 24,000 to 40,000 vehicles passing daily, which can provide strong day-to-day visibility for the operating businesses.
For investors or owner-operators looking for current income, the key consideration here is that the building is fully occupied and producing rent at acquisition. Combined monthly income is listed at $3,400, with annual income noted as $40,800, along with the stated built-in 3% increases on both units. The modified gross structure also shifts responsibility for utilities to the tenants, which may simplify operating cost management compared with leases where the landlord assumes utility expenses.
The property is located on Division Avenue South at 44th Street in Kentwood. Public remarks note traffic of approximately 24,000 to 40,000 vehicles passing daily, which can provide strong day-to-day visibility for the operating businesses.
For investors or owner-operators looking for current income, the key consideration here is that the building is fully occupied and producing rent at acquisition. Combined monthly income is listed at $3,400, with annual income noted as $40,800, along with the stated built-in 3% increases on both units. The modified gross structure also shifts responsibility for utilities to the tenants, which may simplify operating cost management compared with leases where the landlord assumes utility expenses.
Key Highlights
- Two‑unit retail/commercial building (5,000 SF total) with both units fully leased
- Unit 1: 3,224 SF leased for $2,000/month with 3% annual increases
- Unit 2: 2,184 SF leased for $1,400/month with 3% annual increases
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Xclusive Beauty Supplies
(Bike/Boat/Book/etc) Store
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FAQs
What type of property is this?
Retail space - Two fully leased retail units with built-in 3% annual increases and tenant-paid utilities under modified gross terms.
Where is this retail space located?
The property is located at 4342 Division Avenue S Grand Rapids, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit retail/commercial building (5,000 SF total) with both units fully leased; Unit 1: 3,224 SF leased for $2,000/month with 3% annual increases; Unit 2: 2,184 SF leased for $1,400/month with 3% annual increases
