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Tutor Time 6690 Old 28th St SE

10,000 SF Retail Building Grand Rapids, MI 49546 $2,489,822 ($249/SF) 8.10% Cap Rate

Retail Space Michigan Grand Rapids 6690 Old 28th St SE, Grand Rapids, MI 49546

Investment Highlights

  • This lease features annual rent increases throughout the base term and option periods, providing a strong hedge against inflation.
  • Tutor Time has successfully operated at this location for 17+ years.
  • Landlord recently addressed exterior maintenance items to the building.
  • Learning Care Group is the second largest provider of Early Childhood Education in the U.S. with nearly 1,100 locations across 40 states.
  • National retailers in the immediate area include Walmart Supercenter, Meijer, Chick-fil-A, Target, Costco, The Home Depot, and many more.
  • Pine Ridge Elementary, Meadowbrook Elementary, Forest Hills Central Middle School, and Ada Vista Elementary School sit within a 5-mile radius.

Executive Summary

Broker of Record
Matt Fitzgerald
License No. 6505432273 (MI)

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Day Care Center
Building Size
10,000 SF
Building Class
C
Year Built
1999
Price
$2,489,822
Price Per SF
$249
Cap Rate
8.10%
NOI
$201,676
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
2.15 AC
Zoning
B-1 commercial
Parking
35 Spaces (3.5 Spaces per 1,000 SF Leased)

Links

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Nearby Major Retailers

Independent Bank
Starbucks
Fit Body Boot Camp
Scooter's Coffeehouse
Chase
D&W Fresh Market
Goldfish Swim School
Bank of America
Macatawa Bank
Comerica

PROPERTY TAXES

Parcel Number 41-19-16-126-023 Improvements Assessment $0
Land Assessment $0 Total Assessment $786,100

PROPERTY TAXES

Parcel Number
41-19-16-126-023
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$786,100
(214) 550-0877

Contacts

  • Listing ID: 34174959

  • Date on Market: 12/12/2024

  • Last Updated:

  • Address: 6690 Old 28th St SE, Grand Rapids, MI 49546

More public record information on 6690 Old 28th St SE, Grand Rapids, MI 49546

The Retail Property at 6690 Old 28th St SE, Grand Rapids, MI 49546 is currently available for sale. Contact Matthews Real Estate Investment Services for more information.

Retail PROPERTIES IN NEARBY NEIGHBORHOODS

Nearby Listings

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6690 Old 28th St SE, Grand Rapids, MI for sale Building Photo- Image 1 of 3
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6690 Old 28th St SE, Grand Rapids, MI for sale Building Photo- Image 2 of 3
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Tutor Time | 6690 Old 28th St SE
(214) 550-0877 x

Tutor Time | 6690 Old 28th St SE

1/3

Kincade Krauss

(214) 550-0877

(214) 550-0877

Kevin McKenna

(214) 295-8749

(214) 295-8749

Josh Bishop

(214) 692-2289

(214) 692-2289

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