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3280 Grand Ridge Dr
Grand Rapids, MI 49525
Tutor Time · Retail Property For Sale
Investment Highlights
- Situated in a strong corridor of Grand Rapids on high traffic route
- Attractive rent growth (2% annualy)
- Tenant has no remaining options to renew
- Succesfull location with multiple lease extensions executed
- Established customer base in a dense, growing market
- Steel roof minimizes future capital expenditures
Executive Summary
Fortis Net Lease is pleased to present the opportunity to acquire the single-tenant net
leased Tutor Time located at 3280 Grand Ridge Dr NE in Grand Rapids. The offering
consists of an approximately 10,000-square-foot purpose-built childcare facility
situated on a 1.1-acre parcel in a well-established residential and retail corridor. The
property benefits from strong surrounding demographics, excellent accessibility, and
proximity to major thoroughfares serving the broader Grand Rapids metropolitan area.
leased Tutor Time located at 3280 Grand Ridge Dr NE in Grand Rapids. The offering
consists of an approximately 10,000-square-foot purpose-built childcare facility
situated on a 1.1-acre parcel in a well-established residential and retail corridor. The
property benefits from strong surrounding demographics, excellent accessibility, and
proximity to major thoroughfares serving the broader Grand Rapids metropolitan area.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Day Care Center
Building Size
10,000 SF
Building Class
B
Year Built
2001
Price
$3,333,000
Price Per SF
$333.30
Cap Rate
9.75%
NOI
$324,979
Tenancy
Single
Building Height
1 Story
Building FAR
0.28
Lot Size
0.83 AC
Zoning
OR-PUD
Parking
30 Spaces (3 Spaces per 1,000 SF Leased)
Frontage
144’ on Grand Ridge
Property Taxes
| Parcel Number | 41-14-14-152-003 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $691,200 |
Property Taxes
Parcel Number
41-14-14-152-003
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$691,200
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