Log In/Sign Up
Your email has been sent.
The Waldron Building 58 Ionia Ave SW 12,888 SF 100% Leased Retail Building Grand Rapids, MI 49503 $3,660,000 ($283.99/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- NOI: $274,545
- 5+ Years Remaining Lease Term
- Single Tenant
- NNN Lease Type
- Two 5-Year Options with 3% Annual Increases
EXECUTIVE SUMMARY
Advantage Commercial Real Estate is pleased to present the sale of 58 Ionia Avenue SW, a single tenant, 12,888 SF, NNN leased, retail property in the heart of downtown Grand Rapids. The property is home to Max’s South Seas Hideaway, one of the cities most well known bar’s, and its only tiki themed bar.
Max’s South Seas Hideaway is an immersive two-story tiki-themed restaurant and bar located in downtown Grand Rapids, designed and built with extensive custom craftsmanship by renowned tiki artisans to create a one-of-a-kind tropical escape. The space reflects significant investment and attention to detail, from elaborate décor to unique food and cocktail experiences, establishing it as both a destination and a local favorite.
Max’s South Seas Hideaway is an immersive two-story tiki-themed restaurant and bar located in downtown Grand Rapids, designed and built with extensive custom craftsmanship by renowned tiki artisans to create a one-of-a-kind tropical escape. The space reflects significant investment and attention to detail, from elaborate décor to unique food and cocktail experiences, establishing it as both a destination and a local favorite.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
12,888 SF
Building Class
B
Year Built/Renovated
1900/2019
Price
$3,660,000
Price Per SF
$283.99
Cap Rate
7.50%
NOI
$274,545
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
10’2”
Building FAR
1.74
Lot Size
0.17 AC
Zoning
C - Commercial
Frontage
35’ on Ionia Ave
AMENITIES
- Bus Line
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Max's South Sea Hideaway
- Retailer
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Max's South Sea Hideaway | Retailer | - | - | - |
Walk Score®
Walker's Paradise (97)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 41-13-25-435-004 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,388,200 |
PROPERTY TAXES
Parcel Number
41-13-25-435-004
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,388,200
1 of 12
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
The Waldron Building | 58 Ionia Ave SW
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.