Strip Center with Established
901 Gezon Pkwy SW, Grand Rapids, MI 49509
For Sale
$1,900,000
The property is positioned near US-131 and the Southwest medical district.
Property Size8,280 SF
Price / SF$229.47
Days on Market46
Property Features for 901 Gezon Pkwy SW
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Highway Access
Tenant in Place
Amenities
40 Parking Spaces
Building Details
Year Built
Tenancy
Listing Agency:
NAI Wisinski of West Michigan
Listed By:
Paul Oosterbaan
(616) 575-7054
Source:
Carwm.resimplifi
Added: Sep 23
Changed: Nov 6
Last Checked: Nov 6 at 3:33PM
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 NAI Wisinski of West Michigan
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 8,280-square-foot strip center was built in 1997 and is occupied by long-term tenants. The property is zoned B-1 and located at 901 Gezon Pkwy SW in Grand Rapids, Michigan.
US-131 access is nearby, and the Southwest medical district is less than a mile away. Retailers and dining options in the surrounding area include Target, Meijer, Menards, Walmart, Chick-fil-A, Starbucks, Panera Bread, Sonic and Belle Tire; Hampton Inn is also nearby.
US-131 access is nearby, and the Southwest medical district is less than a mile away. Retailers and dining options in the surrounding area include Target, Meijer, Menards, Walmart, Chick-fil-A, Starbucks, Panera Bread, Sonic and Belle Tire; Hampton Inn is also nearby.
Key Highlights
- 8,280‑square‑foot strip center built in 1997
- Occupied by long‑term tenants
- B‑1 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$120,025
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,400,500
$2.4M
Cap Rate 7%
$1,714,643
$1.7M
Cap Rate 9%
$1,333,611
$1.3M
Market Conditions
NOI Build-Up for 8,280 SF
Gross rent
$181.8K $21.96/SF
− Vacancy
−$10.4K −$1.25/SF
EGI
$171.5K $20.71/SF
− OpEx
−$51.4K −$6.21/SF
NOI
$120.0K $14.50/SF
Area
Grand Rapids, MI
Vacancy
5.70%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,400,500
Cap Rate 7%
$1,714,643
Cap Rate 9%
$1,333,611
Alternative Uses
Best Use
Retail
$1.71M
$1.50M – $2.00M
NOI $120,025 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.92M
$1.68M – $2.24M
NOI $134,509 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
396
Businesses Nearby
Explore this area
Business Placement
Demographics for 49509, MI
28,340
Population
10,611
Households
2.7
Avg Household Size
34
Median Age
19%
College-Educated
85%
High-School Grad
7.3 sq mi
ZIP Area
3,882
Density / Sq Mi
$64,981
Median Household Income
$38,356
Median Earnings
$983
Median Rent
$183,400
Median Home Value
Frequently Asked Questions
What type of property is this?
Strip mall - The property is positioned near US-131 and the Southwest medical district.
Where is this strip mall located?
The property is located at 901 Gezon Pkwy SW Grand Rapids, MI.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 8,280‑square‑foot strip center built in 1997; Occupied by long‑term tenants; B‑1 zoning
