1801 Plainfield Ave NE, Grand Rapids, MI 49505

Agents/ Brokers- 3% to the buyer’s agent.

Introduction

Welcome to 1801 Plainfield Ave NE, located in the thriving city of Grand Rapids, Michigan. This offering memorandum presents a unique opportunity to acquire a well-positioned property in a sought-after location.

Property Overview

Location: The property is situated on Plainfield Ave NE, offering excellent visibility and accessibility in a prime commercial area of Grand Rapids.

Property Type: Mixed-Use

Building Size: 9,800 sqft

Lot Size: 3,615 sqft

Year Built: 1910

Remodeled: 2020, 2024

Zoning: Retail, Office, Residential Mixed Use

Investment Highlights

Prime Location: Positioned in a high-traffic area with strong demographics, the property presents an ideal location for retail, restaurants, etc.

Excellent Visibility: The property benefits from prominent frontage on Plainfield Ave NE, ensuring maximum exposure to passing traffic.

Diverse Potential: With its adaptable floor plan and versatile zoning, the property offers flexibility for various potential uses, catering to a wide range of tenants or owner-occupiers.

Stable Tenant Base: The property currently boasts a stable tenant base, providing immediate income and potential for future lease escalations.

Strong Market Fundamentals: Grand Rapids continues to experience robust economic growth and development, making it an attractive investment destination.

Renovations and Upgrades: The property has undergone significant renovations and upgrades to enhance its appeal and functionality. Notable improvements include:

· At 401 Ann: Remodeled with new mini splits, countertops, cabinets, bathroom, flooring, and more.

· At 1801 and 1803: Received a new 2-zone furnace, AC, and more.

· Both roofs are brand new with insulation.

· Nearly $200K has been invested in the property since purchase.

Offering Details

Price: 745,000

Proforma Cap Rate: Up to 14% - Currently 7,200/9,200 sqft are not leased. This would be a perfect opportunity for an owner occupancy, or the ability to lease the 7,200 sqft to reach 14+% cap rate fully leased.

Lease Terms: Month to Month and 3 Year (April 2027)

Offering Structure: The property is offered either as an investment opportunity or for owner-occupancy, providing flexibility for prospective buyers.

Market Overview

Grand Rapids is a dynamic city known for its strong economy, diverse population, and vibrant cultural scene. The Creston area specifically offers a favorable business climate, with large investments into the area, supported by a skilled workforce and strategic location within the Midwest.

Investment Opportunity

This offering presents an exceptional opportunity to acquire a well-located property in a thriving market. Whether seeking stable cash flow from existing tenants or looking to capitalize on the potential for value appreciation, 1801 Plainfield Ave NE offers both investors and owner-occupiers a compelling opportunity.

Contact Information

For additional details or to schedule a tour of the property, please contact:

Justin Ayers - CEO

ARE Properties

616.987.0878

justin@ayersre.com

Disclaimer

This offering memorandum is for informational purposes only and does not constitute an offer to sell or solicit any offer to buy the property. All potential buyers are advised to conduct their own due diligence and consult with legal and financial advisors before proceeding with any transaction.