Property profile

1339 Grand River Ave Portland, MI 48875

FOR SALE
Commercial real estate
Property ID
US43-2138683
11,215 SF 1.24 ac lot Built 1997
Entity Owned 9-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 11,215 square foot freestanding retail building presents a compelling investment opportunity in the thriving city of Portland, Michigan. Located at 1339 E Grand River Avenue, this property boasts a highly desirable location just north of the I-96/E Grand River Avenue interchange, ensuring convenient access to major highways and a large customer base. The building's former use as a Rite Aid pharmacy highlights its suitability for a variety of retail uses, and its existing drive-thru capability adds significant operational flexibility. Ample on-site parking is available for customer convenience, complemented by prominent pylon and building signage for enhanced visibility. The property benefits from a strong retail environment, surrounded by established national brands such as McDonald's, Speedway, Family Dollar, Arby's, Taco Bell, AutoZone, and Verizon, among others. This strategic location and impressive features make this property an ideal investment for discerning buyers seeking a high-traffic, easily accessible retail space in a growing market. The asking price for this exceptional retail property is $1,750,000. The property is situated in Ionia County, Michigan, with a zip code of 48875. Its prime location offers excellent visibility and accessibility, making it an attractive proposition for a wide range of retail businesses. The building's size and features provide ample space for various retail operations, while the existing infrastructure minimizes upfront investment costs.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1997
Total area 11,215 SF
Lot 1.24 ac (53,797 SF)
Zoning code C3
APN 34-300-091-000-010-00
UPID US43-2138683

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Pharmacy
  • Pharmacy
  • Pharmacy
  • Bank Credit Union
  • Physician

Location

1339 Grand River Ave Portland, MI 48875
Portland metro Census 31500 GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.11M
Blend (final) Blend
$390k

Owner & transaction history

since 2017
1 recorded transaction
2017
Price N/A

Zoning & alternative use

C3 · Portland, MI

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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