1744 Monroe Ave NW
Grand Rapids, MI 49505
Retail / Multi-Family Mixed Use on N. Monroe · Retail Property For Sale

"Great investment opportunity in the ""Hot"" North Monroe corridor. Property consists of 2 buildings 1744 Monroe is a 2 unit residential building 900 SF per unit. 1732 Monroe is a mixed use building with two 1100 SF apartments on the upper floor and a 4500 SF Retail/office/industrial space on the lower level. This lower level consists of a newly remodeled 2300 SF space that can be used as Retail or office. New HVAC systems new Bathroom drywall and paint. The other 2200 SF section is space that could be used for storage light industrial or could also be converted into more office or retail space. There is also a 10' loading door onto Monroe. The lower level space has been purposely kept empty for a possible owner/user but could be leased out very easily.. All of the residential units are currently leased. The Pro-forma cap rate is 11% assuming the retail space is leased out at approx. $2200 Per month. Total gross income would be approx $60k with expenses at approx $9k. NOI of approx. $51k."