Former Retail Space on
Kentwood, MI 49508, Kentwood, MI 49508
Former retail space on a lighted corner intersection available for sale.
Type:Retail
Property size:
17,787 SFPrice / SF:
$222/SF- Added:
- Jan 27, 2026
- Days on Market:
- 110
- Last Refresh:
- Apr 6 at 12:56 am
Property Features
General Information
- Standard status
- Active
- Size
- 17,787 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1998
Listing agent Joe Rizqallah (616) 235-6007
Listing office Signature Associates (616) 235-6007
Listing date Jan 27, 2026
Source Tcnworldwide
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
HighLights
- Hard, lighted corner intersection location at 60th and Kalamazoo Avenue.
- Over 250' of frontage with ingress/egress on both 60th and Kalamazoo Avenue.
- Zoned C‑2 allowing for a variety of uses (grocery, restaurant, liquor store, etc.).
- Located a half mile from M‑6 interchange.
- Former Rite Aid location.
- Built in 1998.
Overview
The property is a former retail space situated on a hard, lighted corner intersection. It features over 250 feet of frontage with ingress and egress on two streets. The property is zoned C-2, which allows for a variety of uses including grocery stores, restaurants, liquor stores, big box retailers, and clothing stores. The property is located approximately a half mile from an interchange.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$2.20M
NOI $197,834 @ 9.00% cap · cautious / downside scenario
Moderate
$2.83M
NOI $197,834 @ 7.00% cap · market / base-case scenario
Aggressive
$3.96M
NOI $197,834 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $275.3k | $15.48 |
| − Vacancy | −$11.6k | −$0.65 |
| EGI | $263.8k | $14.83 |
| − OpEx | −$65.9k | −$3.71 |
| NOI | $197.8k | $11.12 |
17,787 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$2.83M
$2.47M – $3.30M
NOI $197,834 @ 7.0% cap · market cap 5.01%
Second Best
Retail
$2.64M
$2.31M – $3.08M
NOI $184,645 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$3.18M
$2.78M – $3.71M
NOI $222,692 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Drug stores
Map
- City
- Kentwood
- County
- Kent
- State
- Michigan
- Longitude
- -85.6249
- Latitude
- 42.8538
Nearby Similar for Sale
FAQs
What type of property is this?
Retail property - Former retail space on a lighted corner intersection available for sale.
Where is this retail property located?
The property is located at Kentwood, MI.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Hard, lighted corner intersection location at 60th and Kalamazoo Avenue.; Over 250' of frontage with ingress/egress on both 60th and Kalamazoo Avenue.; Zoned C‑2 allowing for a variety of uses (grocery, restaurant, liquor store, etc.).
