728 Mckendrick St Grand Rapids, MI 49503

Property Details for 728 Mckendrick St

Year built

1929

Lot size

0.87 lot acres

Property size

14,400 SF

Zone code

SD-IT

Property type

Commercial real estate

APN

41-17-01-355-010

APU

411701355010

Description

This exceptional investment opportunity presents a recently renovated, multi-tenant industrial warehouse located at 728 McKendrick St SW, Grand Rapids, MI 49503. The 15,464 square foot building sits on a 0.87-acre lot (APN: 41-17-01-355-010) and is zoned SD-IT. Boasting 18-20 foot ceiling heights, the property features one loading dock and four 14-foot drive-in doors, providing ample access for various industrial uses. The building also offers significant on-site parking and outdoor storage space. Recent improvements have enhanced functionality and desirability, making it attractive to a wide range of tenants. Currently, leases are all less than two years in length, with average modified gross rents of $7.21 per square foot, presenting a strong opportunity to increase net operating income (NOI) in the coming years. Estimated annual expenses are $28,000. The property includes 200 amp, 480v, 3-phase power. Its prime location offers incredible access to the US-131 & Burton Street interchange, enhancing its logistical advantages. The asking price is $1,295,000 ($83.74 per square foot). This is a rare chance to acquire a well-maintained, multi-tenant industrial property in a thriving Grand Rapids location with significant upside potential.

Location Insight

City

Grand Rapids

County

Kent

State

Michigan

Longitude

-85.6853

Latitude

42.9291

CBSA code

24340

CBSA name

GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments