1850 28th Street SE, Grand Rapids, MI 49508
$1,340,000.00 - Sold
- MLS#: 25016435
- Total Bldgs: 1
- Fin Bldg Lvls: 20,340
- Type: Industrial
- School District: Grand Rapids
- County: Kent
- Taxing Authority: City of Grand Rapids
- Year Built: 1988
- Year Remodeled:
- Below Grade: None15
- Exterior: Block
- Driveway: Paved
- Parking: 50
- Air:
- Bldg Sq Ft: 0
- Office Sq Ft: 0
- Retail Sq Ft: 0
- Warehouse Sq Ft: 0
- Other Sq Ft: 0
- Street Type: Paved,Public
- Road Frontage: 400
- Heat: Radiant/Natural Gas
- Water: Public Water4
- Sewer: Public Sewer5
- Roofing:
- Docks: 0
- Doors: 28
- Ceiling Height: 14
Legal: lengthy legal attached
- Taxable Value: 580,692
- SEV: 892,600
- For Tax Year: 2024
- Annual Property Tax: 0
- Tax Year: 2024
- Homestead %: 0
- Spec Assmt/Tyle: None Known
- Zoning: C-2 Commercial
- Tax ID: 41-18-16-126-005
- Lot Size: see map
- Acreage: 3.61
- New Construction: No
- Construction Type: Concrete
- Construction Status:
- Addtl Features:
- Uses: Auto Service, Professional Service, Retail, Storage, Other31
- Util Available: Electric,Natural Gas,Telephone
- Util Attached: Electricity Connected,Natural Gas Connected,Telephone
- Current Use: Retail/Automotive/Industrial
- Terms: Cash, Conventional
- Original Price: 1,599,000.00
- Directions: South side of 28th Street between Kalamazoo Ave and Breton.
- Property Description: *PRICE REDUCED* Great opportunity for a fully leased automotive retail Grand Rapids commercial property with desirable 28th Street frontage plus additional appx 75,000 sq/ft (289x262) of land area for possible venture/expansion (i.e storage facility/your location building) There is current investment buildout in this 28th/Kzoo area! This is a turn-key cashflow investment opportunity with owner operator possibilities. Suite 500 has potential to be split into 2 suites as previous for additional rents. (500 & 550) A Suite is available for Owner Operator! Roof updated 2011. Environmental done 2020: no corrective actions necessary. 2020 appraisal ($1,375,000) adjusting for rents appx 35% more puts estimated value much higher ($1,850,000) than asking price making this a deal! Appx 9% cap rate at aski
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