Grocery-Anchored Retail
6511 28th Street Southeast Grand Rapids, MI 49546
6511 28th Street Southeast, Grand Rapids, MI, 49546
$925,000
For Sale
$925,000
For-sale grocery-anchored retail center with easy access, suited for neighborhood retail and financial uses.
Property Size2,503 SF
Lot Size0.76 Acres
Price / SF$369.56
Days on Market49
Property Features for 6511 28th Street Southeast
General Information
- Standard status
- Active
- Size
- 2,503 SF
- Lot size
- 0.76 Acres
- Property subtype
- Retail
Listing Agency
(616) 799-6629
Listed by
Russ Bono, CCIM · License #MI 6501380200
(616) 799-6629
Source
Cbre
Added: Jun 3 Updated: Jul 10 at 1:49 pm Checked: Jul 19 at 3:01 am
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 Russ Bono, CCIM
Investment Insights
Based on property information with market context.
This for-sale grocery-anchored retail center offers 2,503 SF on 0.76 acres. The property is positioned as a retail option within a shopping center environment, with the grocery anchor providing a built-in draw for day-to-day shopping traffic.
Located at 6511 28th Street Southeast in Grand Rapids, MI 49546, the center is described as having easy access. The available information also notes activity involving Fifth Third and Comerica transactions tied to a financial institution deed restriction, with those sales not closing until September.
The asset is a practical fit for buyers or operators seeking a retail configuration anchored by grocery, where day-to-day consumer traffic is supported by the center’s existing tenant mix. Because the remarks reference deed restrictions associated with financial institutions, this property may be particularly relevant for plans involving bank or other financial services, or for stakeholders coordinating with the referenced Fifth Third and Comerica timing requirements.
Located at 6511 28th Street Southeast in Grand Rapids, MI 49546, the center is described as having easy access. The available information also notes activity involving Fifth Third and Comerica transactions tied to a financial institution deed restriction, with those sales not closing until September.
The asset is a practical fit for buyers or operators seeking a retail configuration anchored by grocery, where day-to-day consumer traffic is supported by the center’s existing tenant mix. Because the remarks reference deed restrictions associated with financial institutions, this property may be particularly relevant for plans involving bank or other financial services, or for stakeholders coordinating with the referenced Fifth Third and Comerica timing requirements.
Key Highlights
- Grocery‑anchored retail center with 2,503 SF and 0.76 acres
- Strong demographics and easy access, suited for neighborhood retail and financial uses
- Financial Institution deed restriction applies to all Fifth Third/Comerica sales; closings won’t occur until September
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
Grocery and convenience stores
Similar For Sale Nearby
Similar Off Market Nearby
- Target Grocery — 5120 28th St SE, Grand Rapids, MI 49512
FAQs
What type of property is this?
Grocery and convenience store - For-sale grocery-anchored retail center with easy access, suited for neighborhood retail and financial uses.
Where is this grocery and convenience store located?
The property is located at 6511 28th Street Southeast 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 retail center with 2,503 SF and 0.76 acres; Strong demographics and easy access, suited for neighborhood retail and financial uses; Financial Institution deed restriction applies to all Fifth Third/Comerica sales; closings won’t occur until September
