1850 28Th St Grandville, MI 49508
- Commercial real estate
- 3.61 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1850 28Th St
- Year built
- 1988
- Lot size
- 3.61 lot acres
- Property type
- Commercial real estate
Description
This exceptional Grandville, MI commercial property presents a lucrative investment opportunity. Located on desirable 28th Street SE, boasting 3.61 acres of land, this property offers significant potential. Currently housing a fully leased automotive retail business generating a substantial monthly gross lease income of $15,500, this translates to an approximate 7.35% capitalization rate at the asking price of $1,850,000. The property enjoys excellent visibility with frontage on 28th Street, situated conveniently between Kalamazoo Avenue and Breton Avenue, and directly across from the Indian Trails Golf Course. A significant portion of the land remains undeveloped, presenting a unique opportunity for expansion or the addition of complementary ventures. An environmental assessment completed in 2020 revealed no necessary corrective actions. The seller is open to considering all reasonable offers. Detailed lease information and further environmental documentation are available upon request. Schedule a viewing today to explore the possibilities of this prime commercial real estate investment. This property offers a blend of immediate income generation and substantial future growth potential. Don't miss this chance to acquire a well-located, high-performing asset in a thriving market.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Grandville
- County
- Kent
- State
- Michigan
- Longitude
- -85.6226
- Latitude
- 42.9121
