For Sale
$3,295,000
3423 Plainfield Ave Grand Rapids, MI 49525
High-yield NNN leased storefront.
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 131
Highlights
- $3,295,000 asking price for a 1,954 SF single-tenant, absolute NNN net lease storefront in Grand Rapids, MI.
- 10-year lease (8 years remaining) commencing October 1, 2022, with two 5-year renewal options.
- 10.34% current cap rate, 10.96% pro-forma cap rate; $340,548 current NOI, $361,288 pro-forma NOI.
- Located on a 0.38-acre lot at 3423 Plainfield Ave NE, Grand Rapids, MI 49525, with General Commercial zoning.
- 100% occupancy; building renovated in 2020; suitable for a 1031 exchange.
Property Details for 3423 Plainfield Ave
- Property type
- Retail properties, Retail space
- Square Feet
- 1,954 SF
- Year Renovated
- 2020
- Buildings
- 1
- Stories
- 1
- Lot Size (sq. ft)
- 16,553 SF
Location Insight
- City
- Grand Rapids
- County
- Kent
- State
- Michigan
- Latitude
- 43.025033293805
- Longitude
- -85.633344873853
3423 Plainfield Ave, Grand Rapids, Michigan
Nearby Similar for Sale
FAQs
- What type of property is this?
- Retail property - High-yield NNN leased storefront.
- Where is the retail property located?
- The property is located at 3423 Plainfield Ave Grand Rapids, MI.
- What is the asking price?
- The asking price for this property is $3,295,000.
- What are key features of this property?
- This property features: $3,295,000 asking price for a 1,954 SF single-tenant, absolute NNN net lease storefront in Grand Rapids, MI.; 10-year lease (8 years remaining) commencing October 1, 2022, with two 5-year renewal options.; 10.34% current cap rate, 10.96% pro-forma cap rate; $340,548 current NOI, $361,288 pro-forma NOI.
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