58 Ionia Ave SWGrand Rapids, MI 49503
58 Ionia Ave | STNL Retail
Asset ClassRetail
Deal Size$3.66 M
Single Tenant Net Lease in the Heart of Downtown Grand Rapids
Overview
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.
- $3,660,000 Asking Price | 7.50% cap
- $274,545 NOI
- Single Tenant Net Lease
- Premier Retail Location
- Heavy Foot Traffic
Investment Highlights
58 Ionia Avenue SW presents the opportunity for investors to acquire a fully occupied, cash flowing asset in Grand Rapids most active entertainment district. Max’s South Seas Hideaway recently signed a new, NNN lease in early 2025, providing minimal landlord responsibilities.
- 5+ Years remaining Term
- (2) 5-year options
- Significant investment into the space by tenant
- Tenant has been at the location since 2019
- Historic Property
Table Information
.
Total Building Size
12,888
Lot Size
0.12
Signage
On Building
Year Built | Renovated
1894 | 2019
Roof
Replaced in 2019
Floors
3
Municipality
City of Grand Rapids
Photo Gallery
58 Ionia Ave SWGrand Rapids, MI 49503
Sales Team
Michael VisserPartner | Senior Vice President | Investment(616) 327-2617michael.visser@advantagecre.com
Listing provided by Revere CRE