Turnkey Freestanding
69 28th St SW Grand Rapids, MI 49548
For Sale
Contact for pricing
Turnkey freestanding restaurant with new 2023 interior build and included FF&E, plus ample parking.
Property Size8,040 SF
Price / SF$242.54
Days on Market123
Property Features for 69 28th St SW
General Information
- Standard status
- Active
- Size
- 8,040 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1953
Listing Agency:
Signature Associates
(616) 235-0900
Listed By:
Joe Rizqallah · License #MI
Source:
Crexi
Added: Mar 25
Changed: Jul 22
Last Checked: Jul 24 at 9:57AM
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 Signature Associates
Investment Insights
Based on property information with market context.
This freestanding restaurant is offered as a turnkey operation. The space was fully gutted and built out with a new interior in 2023, and the sale includes all FF&E.
The property is located right off US-131 and comes with ample parking suitable for events.
In addition to the real estate, the purchase includes a Class C liquor license. The offering is presented as an opportunity to buy or lease, with the space suited for a variety of restaurant formats.
The property is located right off US-131 and comes with ample parking suitable for events.
In addition to the real estate, the purchase includes a Class C liquor license. The offering is presented as an opportunity to buy or lease, with the space suited for a variety of restaurant formats.
Key Highlights
- Free‑standing restaurant with a new interior build completed in 2023
- Fully gutted and rebuilt in 2023 with FF&E included
- Purchase includes a Class C liquor license
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 | $183.3k | $22.80 |
| − Vacancy | −$9.2k | −$1.14 |
| EGI | $174.1k | $21.66 |
| − OpEx | −$43.5k | −$5.42 |
| NOI | $130.6k | $16.25 |
8,040 SF · lease $22.80/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.87M
$1.63M – $2.18M
NOI $130,610 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Peru
Restaurant
FAQs
What type of property is this?
Conventional restaurant - Turnkey freestanding restaurant with new 2023 interior build and included FF&E, plus ample parking.
Where is this conventional restaurant located?
The property is located at 69 28th St SW Grand Rapids, MI.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Free‑standing restaurant with a new interior build completed in 2023; Fully gutted and rebuilt in 2023 with FF&E included; Purchase includes a Class C liquor license
