217 28th SE St Grand Rapids, MI 49548-1105
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2021Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
TN-TBA · Grand Rapids, MIGrand Rapids. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.