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Columbia Building 2739 Breton Rd SE 12,400 SF Vacant Retail Building Grand Rapids, MI 49546 $1,844,550 ($148.75/SF) 4.74% Cap Rate
EXECUTIVE SUMMARY
NorthStar is pleased to present a multi-tenant neighborhood center at 2739 Breton Rd SE. There is over 6,000 SF of prime retail/office space
conveniently located on the corner of 28th St and Breton Rd adjacent to Shell Gas Station, Wendy’s, and Tile World. This Spot offers great vehicle and foot traffic as well as easy access to and from Breton & 28th St. In addition, the main tenant Mr. & Mrs. Crab is signed to a long-term lease that expires in 7 years. The building underwent a half million dollars in renovations in the year 2018. Proforma rent is $177,394 at market rate and 100% occupancy. If valued at an 8% CAP this property is worth $2,217,425. You’re buying a deal that is 17% discounted and has a tremendous amount of upside through lease up. Please contact the listing agents for additional information or to set up a showing today!
conveniently located on the corner of 28th St and Breton Rd adjacent to Shell Gas Station, Wendy’s, and Tile World. This Spot offers great vehicle and foot traffic as well as easy access to and from Breton & 28th St. In addition, the main tenant Mr. & Mrs. Crab is signed to a long-term lease that expires in 7 years. The building underwent a half million dollars in renovations in the year 2018. Proforma rent is $177,394 at market rate and 100% occupancy. If valued at an 8% CAP this property is worth $2,217,425. You’re buying a deal that is 17% discounted and has a tremendous amount of upside through lease up. Please contact the listing agents for additional information or to set up a showing today!
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
12,400 SF
Building Class
B
Year Built
1963
Price
$1,844,550
Price Per SF
$148.75
Cap Rate
4.74%
NOI
$87,394
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
9’
Building FAR
0.17
Lot Size
1.71 AC
Zoning
C2 - Commercial Zoned Property
Parking
29 Spaces (2.34 Spaces per 1,000 SF Leased)
Frontage
69’ on Breton Rd
AMENITIES
- Bus Line
- Pylon Sign
- Signage
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 41-18-09-476-038 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $885,100 |
PROPERTY TAXES
Parcel Number
41-18-09-476-038
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$885,100
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Columbia Building | 2739 Breton Rd SE
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