1830 172Nd AveGrand Haven, MI 49417

Property Details for 1830 172Nd Ave

Year built

1996

Lot size

4.03 AC

Property size (Sq ft)

31,200 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

70-03-33-201-004

APU

700333201004

Description

South Village Plaza, located at 1830 172nd Ave, Grand Haven, MI 49417, presents a compelling investment opportunity in a thriving retail market. This single-story, 31,034 square foot Class B shopping center, built in 1996, offers multiple tenancy options. The property is zoned commercial (APN 70-03-33-201-004) and conveniently situated near Robbins Rd, just 1.5 miles south of Downtown Grand Haven. Currently, three retail spaces are available, ranging from 997 to 3,173 square feet, each commanding a rental rate of $13.00 per square foot. Specifically, Suite C offers 1,600 square feet, Suite D-2 provides 997 square feet, and Suite K boasts 3,173 square feet of space. This presents a unique chance to acquire a well-located retail property with immediate income potential. The property's strategic location and flexible space options make it ideal for a variety of retail businesses seeking a presence in a bustling community. The single-building structure simplifies management, and the established tenant base contributes to a stable income stream. This is an exceptional opportunity for investors seeking a strong return on investment in a desirable Michigan market.

• CAP approach

  CAP return

  Valuation

  6%

  $8,376,734

  6.5%

  $7,732,370

  7%

  $7,180,058

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,240,776

  Geo Method

  $10,240,776

• Alternative Use

  Use

  Valuation

  Residential

  $6,522,543

  Hospitality

  $5,974,614

  Educational

  $4,970,809

  Medical

  $5,141,763

  Retail

  $7,732,370

Location Insight

City

Grand Haven

County

Ottawa

State

Michigan

Latitude

43.0423

Longitude

-86.2145

CBSA code

24340

CBSA name

GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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