4505 Canal Ave SW | Grandville, MI 49418
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4505 Canal Ave SW
Grandville, MI 49418
Retail Property For Sale
Executive Summary
NorthStar is pleased to present a single-tenant restaurant as a sale-leaseback investment opportunity. This property which was constructed in 2004, was renovated in 2020 with a new kitchen addition spans 7,829 sq ft on 1.7 acres. In 2024, the building is undergoing another renovation for new concept. The restaurant is positioned a quarter mile from I-196, and just 1.3 miles from Rivertown Crossings Mall. Sitting in a highly visible location on Canal, the building benefits ~10k vehicles per day on Canal and ~30K from the adjacent Rivertown Pkwy.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,829 SF
Building Class
B
Year Built/Renovated
2001/2024
Price
$3,284,914
Price Per SF
$420
Cap Rate
7%
NOI
$229,944
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
1.70 AC
Zoning
Commercial - Commercial Zoned District
Parking
70 Spaces (8.94 Spaces per 1,000 SF Leased)
Frontage
82 FT on Canal Ave
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 41-17-30-100-072 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $955,800 |
PROPERTY TAXES
Parcel Number
41-17-30-100-072
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$955,800
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