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    217 28Th St Grand Rapids, MI 49548

    Sponsored
    For Sale
    $1,250,000

    Established Restaurant, 5,000 SF, High Traffic Area

    Property size:
    5,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional turnkey restaurant opportunity in Grand Rapids, Michigan, presents a rare chance to acquire an established business with significant potential. Located at 217 28th St SE, this property boasts a prime location along a busy thoroughfare, less than 1.5 miles from US-131, ensuring high visibility and accessibility. The 5,000 square foot building sits on a spacious 1.72-acre lot, providing ample space for operations and customer parking. With over 40 parking spaces available, customer convenience is maximized. Built in 1971 and extensively renovated in 2023, the property is in excellent condition and ready for immediate operation. The interior features a 12-foot ceiling height, creating a spacious and inviting atmosphere. The property is zoned TN-TBA and includes a single-tenant occupancy. The asking price is $1,250,000, translating to $250 per square foot and $320 per unit. This fully equipped restaurant is a truly turnkey operation, allowing for immediate commencement of business. Don't miss this opportunity to own a thriving establishment in a high-demand location. The property's APN is 41-18-07-376-037. This is a unique chance to acquire a well-established business with a proven track record in a desirable area of Grand Rapids.

    Property Features for 217 28Th St

    General Information

    Property type
    Restaurants
    Square Feet
    5,000 SF
    Lot Size
    74,923 SF

    Building Details

    Year Built/Renovated
    1971/2023
    Buildings
    1
    Stories
    1

    HighLights

    • $1,250,000 asking price for a 5,000 SF restaurant.
    • Located at 217 28th St SE, Grand Rapids, MI 49548.
    • 1.72‑acre lot with 40 parking spaces.
    • Turnkey restaurant, fully equipped, ready for immediate operation.
    • Recently renovated in 2023; 12' ceilings.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.6612692
    Latitude
    42.9132343

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    FAQs

    What type of property is this?
    Restaurant - Established Restaurant, 5,000 SF, High Traffic Area
    Where is this restaurant located?
    The property is located at 217 28Th St Grand Rapids, MI.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: $1,250,000 asking price for a 5,000 SF restaurant.; Located at 217 28th St SE, Grand Rapids, MI 49548.; 1.72-acre lot with 40 parking spaces.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    217 28Th St Grand Rapids, MI 49548
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