4505 Canal AveGrandville, MI 49418

This exceptional investment opportunity presents a single-tenant restaurant property located at 4505 Canal Ave SW in Grandville, Michigan, 49418. The 7,829 square foot building, constructed in 2004 and renovated in 2020 with a new kitchen addition, sits on a 1.7-acre lot and boasts 115 parking spaces. Currently operating at 100% occupancy with a strong 10-year NNN lease in place, the property offers a compelling 7.00% cap rate and a Net Operating Income (NOI) of $229,944. The asking price is $3,284,914, translating to $419.58 per square foot. The property enjoys a highly visible location on Canal Avenue, benefiting from approximately 10,000 vehicles per day on Canal Avenue and an additional 30,000 vehicles daily from the adjacent Rivertown Parkway. Its proximity to I-196 (a quarter-mile) and Rivertown Crossings Mall (1.3 miles) further enhances its strategic position. Scheduled for another renovation in 2024 to accommodate a new restaurant concept, Hong Hot Pot is the current tenant, occupying the entire space. This property offers a rare blend of strong current performance and future upside potential, making it an ideal addition to any investment portfolio. The building is a single-story structure.