Grocery-Anchored Retail Center
6511 28th Street SE Grand Rapids, MI 49546
6511 28th Street SE, Grand Rapids, MI, 49546
Contact for pricing
For Sale
Contact for pricing
Grocery-anchored shopping center site with easy access and a financial-institution deed restriction for certain bank sales.
Property Size2,503 SF
Lot Size0.76 Acres
Price / SF$369.56
Days on Market52
Property Features for 6511 28th Street SE
General Information
- Standard status
- Active
- Size
- 2,503 SF
- Lot size
- 0.76 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1978
Listing agency
CBRE
Listed by
Russ Bono · License #MI 6501380200
Source
Crexi
Added: Jun 1 Updated: Jul 10 at 1:49PM Checked: Jul 21 at 7:06AM
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 CBRE
Investment Insights
Based on property information with market context.
This offering is a grocery-anchored retail center property totaling 2,503 SF on 0.76 acres. The property is positioned as part of a retail complex with an established grocery anchor.
The seller highlights easy access for day-to-day customer and tenant traffic. Public remarks also note strong demographics supporting the center’s retail context.
Please note a material deed restriction affecting certain financial institution transactions: all Fifth Third and Comerica sales are subject to a Financial Institution deed restriction and are scheduled to not close until September. Prospective buyers and brokers should factor this timing and restriction into any acquisition planning. The property’s grocery-anchored configuration and access profile may be particularly relevant for operators seeking a retail environment where grocery demand can support surrounding uses, subject to the deed restriction requirements applicable to bank sales.
The seller highlights easy access for day-to-day customer and tenant traffic. Public remarks also note strong demographics supporting the center’s retail context.
Please note a material deed restriction affecting certain financial institution transactions: all Fifth Third and Comerica sales are subject to a Financial Institution deed restriction and are scheduled to not close until September. Prospective buyers and brokers should factor this timing and restriction into any acquisition planning. The property’s grocery-anchored configuration and access profile may be particularly relevant for operators seeking a retail environment where grocery demand can support surrounding uses, subject to the deed restriction requirements applicable to bank sales.
Key Highlights
- Grocery‑anchored shopping center site with easy access
- 2,503 SF building on 0.76 acres
- Year built: 1978
Local Financial Insights For Specialty 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 | $57.1k | $22.80 |
| − Vacancy | −$2.9k | −$1.14 |
| EGI | $54.2k | $21.66 |
| − OpEx | −$13.6k | −$5.42 |
| NOI | $40.7k | $16.25 |
2,503 SF · lease $22.80/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$580.9K
$508.3K – $677.7K
NOI $40,661 @ 7.0% cap · market cap 4.40%
Second Best
Retail
$518.3K
$453.5K – $604.7K
NOI $36,283 @ 7.0% cap · market cap 3.92%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Comerica Bank - ATM
Atm
Comerica Bank
Bank
Similar For Sale Nearby
Similar Off Market Nearby
- Cascade East — 6425-6479 28th St SE, Grand Rapids, MI 49546
- Cascade Country Square — 6095 28th St SE, Grand Rapids, MI 49546
- Quick-Tag — Walmart Supercenter, 5859 28th St SE, Grand Rapids, MI 49546
- Cascade Retail Center — 6797 Cascade Rd SE, Grand Rapids, MI 49546
FAQs
What type of property is this?
Shopping center - Grocery-anchored shopping center site with easy access and a financial-institution deed restriction for certain bank sales.
Where is this shopping center located?
The property is located at 6511 28th Street SE Grand Rapids, MI.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Grocery‑anchored shopping center site with easy access; 2,503 SF building on 0.76 acres; Year built: 1978
