MLS# 25016435 – 1850 28th Street Se, Grand Rapids, MI 49508

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$1,599,000
20,340 SqFt
3.61 Acre Lot
157,034 Sqft Lot
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Property Photo
Price Type
Status Active
Property Type Industrial
Year Built 1988
Days on Website 116

Property Map

$1,599,000 – 1850 28th Street Se, Grand Rapids, MI 49508

Street View

Courtesy of Bialik Real Estate LLC, Nathaniel R Bialik.

Description

Great opportunity for a fully leased automotive retail Grand Rapids commercial property with unused land area for possible additional venture/expansion. A Suite could be available for Owner Operator! Approximately 9% cap rate at current asking price. Seller will look at any reasonable offer. Desirable 28th Street frontage across from Indian Trails Golf course between Kalamazoo Ave and Breton. Call for lease info, environmental info, and to schedule a tour. Current monthly gross lease total of $15,500. Environmental done 2020: no corrective actions necessary.

Property Details and Features

Property Access

  • Road Surface Type: “Paved”

Building

  • Building Area Total: 20,340
  • Construction Materials: “Block”
  • Number Of Buildings: 1
  • Number Of Units Total: 6
  • Year Built: 1988
  • 20340 total stories

Expenses

  • Maintenance Expense: $2,400
  • Operating Expense: $41,988
  • Insurance Expense: $3,800

Heating

  • Heating: “Radiant”
  • Heating Included

Income

  • Gross Income: $186,000
  • Net Operating Income: $136,412

Listing

  • Listing Contract Date: 2025-04-19
  • Listing Id: 25016435
  • Listing Terms: “Conventional”, “Cash”
  • Mls Status: Active
  • Modification Timestamp: 2025-04-24 19:24:27
  • On Market Date: 2025-04-19
  • Standard Status: Active
  • Status Change Timestamp: 2025-04-19 17:45:03
  • 116 days on market

Location

  • City: Grand Rapids
  • State Or Province: MI
  • County Or Parish: Kent
  • Postal Code: 49508
  • MLS Area Major: Grand Rapids – G
  • MLS Area Minor: Grand Rapids – G

Lot

  • 3.61 acres
  • Area: 3.61
  • Dimensions: see map
  • 157,034 square feet

Parking

  • Parking Total: 50

Property

  • Business Type: “Other”, “Auto Service”, “Professional Service”, “Storage”, “Retail”
  • Parcel Number: 41-18-16-126-005
  • Property Sub Type: Industrial

Schools

  • Middle Or Junior School District: Grand Rapids

Taxes

  • Annual Amount: $30,928
  • Tax Year: 2024

Utilities

  • Utilities: “Phone Available”, “Natural Gas Available”, “Electricity Available”, “Phone Connected”, “Natural Gas Connected”, “Electricity Connected”