Turnkey Freestanding
For Sale
Contact for pricing
69 28th St SW, Grand Rapids, MI 49548
Turnkey freestanding restaurant with new 2023 interior build and included FF&E, plus ample parking.
Property Size8,040 SF
Price / SF$0.00
Days on Market240
Property Features for 69 28th St SW
General Information
Standard status
Active
Size
8,040 SF
Property subtype
Retail
Zoning
B-3
Lease Type
NNN
Site & Location
Neighborhood
Garfield Park
Highway Access
Yes
Road Access
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Liquor License
Yes
Building Details
Year Built
1953
Year Renovated
2023
Tenancy
Single
Listing Agency:
Signature Associates
Listed By:
Joe Rizqallah
(616) 235-6007
Source:
Carwm.resimplifi
Added: Mar 4
Changed: Oct 26
Last Checked: Oct 28 at 4:46AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$130,610
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,612,200
$2.6M
Cap Rate 7%
$1,865,857
$1.9M
Cap Rate 9%
$1,451,222
$1.5M
Market Conditions
NOI Build-Up for 8,040 SF
Gross rent
$183.3K $22.80/SF
− Vacancy
−$9.2K −$1.14/SF
EGI
$174.1K $21.66/SF
− OpEx
−$43.5K −$5.42/SF
NOI
$130.6K $16.25/SF
Area
Grand Rapids, MI
Vacancy
5.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,612,200
Cap Rate 7%
$1,865,857
Cap Rate 9%
$1,451,222
Alternative Uses
Best Use
Specialty Retail
$1.87M
$1.63M – $2.18M
NOI $130,610 @ 7.0% cap · market cap 870,733.33%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
501
Businesses Nearby
34k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 9%
Hotels & Casinos 6%
Home Improvements & Furnishings 1%
BP
Shops & Services
13,911 visits/mo
0.5 miles
Marathon
Shops & Services
7,867 visits/mo
0.2 miles
PNC Bank
Shops & Services
4,193 visits/mo
0.2 miles
Pizza Hut
Dining
3,051 visits/mo
0.2 miles
Marathon
Shops & Services
1,475 visits/mo
0.5 miles
Demographics for 49548, MI
34,741
Population
13,174
Households
2.6
Avg Household Size
34
Median Age
17%
College-Educated
86%
High-School Grad
10.8 sq mi
ZIP Area
3,217
Density / Sq Mi
$62,218
Median Household Income
$35,831
Median Earnings
$1,129
Median Rent
$149,500
Median Home Value
Check the figures for this property
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Frequently Asked Questions
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 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
