Listed by Bradley Company Grand Rapids
$2,100,000
Seward & 7th
Details
APN 41-13-24-317-001;-002;-003;-004
Property Type Office, Mixed Use
Sub Type Executive Office
Square Footage 30,222
Units 4
Cap Rate 8.12%
NOI $170,566
Price per SqFt $69
Class A
Year Built 1920
Year Renovated 2018
Buildings 1
Stories 3
Acreage 1.300
Zoning TN-TBA
Office | 8.12% CAP | 30,222 SqFt
Marketing description
Seward and 7th presents an exceptional investment opportunity with upside in the heart of Grand Rapids' thriving northwest downtown corridor. Located on the prime first floor of the historic 7th Street Lofts redevelopment, this investment property features two established tenants: Chervon, a global power tool and outdoor equipment manufacturer, and Roots Brew Shop, a community-focused coffee shop offering high-quality coffee, tea, bagels, and artisan fare. The property also has one suite available for existing tenant expansion or to lease to a third tenant.
Investment highlights
- 8.1% cap rate on existing NOI
- First floor of the 7th Street Lofts redevelopment
- Surrounded by strong neighbors: Ferris Coffee, American Seating Park, and the Widdicomb redevelopment
- Secured long term parking with a 99-year parking agreement
Listing Contacts
Listed by Bradley Company Grand Rapids
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$170,566.00
$14,213.83/mo
Valuation Metrics
0
DSCR
8.12%
Cap Rate
8.12%
ROI
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