4901-4923 28th Street Southeast, Grand Rapids, MI 49512
High-traffic retail asset with national tenants in affluent area.
- Added:
- Mar 30, 2026
- Days on Market:
- 73
- Last Refresh:
- Apr 3 at 6:25 am
Property Features for 4901-4923 28th Street Southeast
General Information
- Standard status
- Active
- Size
- 74,250 SF
- Property subtype
- Retail
Listing agent Brandon Hanna (248) 702-0280
Listing office Encore Real Estate Investment Services (248) 702-0280
Listing date Mar 30, 2026
Source Cpix.resimplifi
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 Encore Real Estate Investment Services
HighLights
- High‑profile retail asset in East Grand Rapids with national destination tenancy (Total Wine & More and Crunch Fitness).
- Both tenants are top‑performing national brands driving heavy, consistent customer traffic.
- New 10‑year corporate lease with 6 years remaining and minimal landlord responsibilities.
- Located in a robust retail node adjacent to Costco, Home Depot, Target, and other major retailers.
- Affluent and thriving market with a 3‑mile average household income of $106,830+.
- Excellent visibility and accessibility with combined traffic counts exceeding 59,255+ VPD and immediate access to Interstate‑96.
Overview
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 | $1.63M | $21.96 |
| − Vacancy | −$92.9k | −$1.25 |
| EGI | $1.54M | $20.71 |
| − OpEx | −$461.3k | −$6.21 |
| NOI | $1.08M | $14.50 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Esplanade Plaza — 5769 28th St SE, Grand Rapids, MI 49546
- Waterfall Shoppes — 5070 28th St SE Suite C, Grand Rapids, MI 49512
Location Insight
- Map
- Local Demand
- City
- Grand Rapids
- County
- Kent
- State
- Michigan
- Longitude
- -85.5382548
- Latitude
- 42.9164683
