2739 Breton RdGrand Rapids, MI 49546

Property Details for 2739 Breton Rd

Year built

1963

Lot size

1.34 AC

Property size (Sq ft)

12,456 SF

Zone code

SD-NOS

Property type

Turn key restaurants

APN

41-18-09-476-038

APU

411809476038

Description

This exceptional multi-tenant property in Grand Rapids, Michigan, presents a compelling investment opportunity. Located at 2739 Breton Rd SE, this two-story, 12,456 square foot building sits on a 1.34-acre lot and boasts 42 parking spaces. The property features a mix of restaurant and executive office space, currently operating at 100% occupancy with a Net Operating Income (NOI) of $87,394, representing a 4.74% cap rate. The asking price is $1,844,550, with a price per square foot of $148.09. A significant anchor tenant, Mr. & Mrs. Crab, is under a long-term lease with seven years remaining. The property benefits from its prime corner location at the intersection of 28th Street and Breton Road SE, adjacent to established businesses such as Shell, Wendy's, and Tile World, ensuring high visibility and foot traffic. Extensive renovations totaling $500,000 were completed in 2018. The property is zoned MON-C and offers a pro forma rent of $177,394 annually at 100% occupancy, suggesting a potential 8% cap rate and a valuation of $2,217,425. This represents a significant discount, offering substantial upside potential for the astute investor. The property is offered under a Triple Net (NNN) lease.

• CAP approach

  CAP return

  Valuation

  6%

  $1,145,456

  6.5%

  $1,057,344

  7%

  $981,820

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,088,433

  Geo Method

  $4,088,433

• Alternative Use

  Use

  Valuation

  Residential

  $891,909

  Hospitality

  $816,984

  Educational

  $679,721

  Medical

  $703,098

  Retail

  $1,057,344

Location Insight

City

Grand Rapids

County

Kent

State

Michigan

Latitude

42.9136

Longitude

-85.609

CBSA code

24340

CBSA name

GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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