Retail Space
1424 Michigan 89 Otsego, MI 49078
Details & Description
Price: $415,000
    Rental income is $2,950 per month with full pass through lease. 1 year remains on the current lease and a 5-year lease beginning July 1st, 2022 has been signed. This equals 6 years of income production, totaling $424,800 over the term.
    Property ID:    257660
    Property URL: melqr.com/257660
    Generated:    05-11-24
    Property Highlights
    Listing Agents
    Kyle Grooters

    O: 616-254-0005
    M: 951-733-3833
    kgrooters@bradleyco.com
    Vee Kimbrell
    Bradley Company
    O: 574-213-5585
    vkimbrell@bradleyco.com
    While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.
    Retail Space / Michigan / Otsego / 49078 / 1424 Michigan 89

    1424 Michigan 89

    Otsego, MI 49078

    Listing ID: 257660
    Print Single-Page Version
    1424 Michigan 89 Otsego, MI 49078 | for Sale | Photo 1
    Building Size: 1,400 SF
    Lot Size: 0.750 AC
    Land Size: 43,560 SF
    Building $/SF: $296.43
    Land $/SF: $9.53
    Price
    $415,000
    Property Highlights
    Exposure to over 30,000 carsday
    Long-term tenant
    296 feet of highway frontage
    Owner willing to package sale with 1325 S. Drake Rd. with same long-term tenant
    Description

    Rental income is $2,950 per month with full pass through lease. 1 year remains on the current lease and a 5-year lease beginning July 1st, 2022 has been signed. This equals 6 years of income production, totaling $424,800 over the term.

    Attachments & Files
    flyer-56-R1O-0nl.pdf

    Points of Interest & Demographic Radii

    Points of Interest
    Demographic Radii
    POIs provided for entertainment purposes only. Data comes from multiple data sources as well as users and agents. MyEListing makes no claims whatsoever as to the accurancy and/or completeness.
     
    Grand Rapids History of Retail Space for Sale

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    Otsego Area Market Trends

    Listing Demographics for 1424 Michigan 89 Otsego, MI 49078

    All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

    1-Mile 3-Miles 5-Miles
    Total Population2,67313,36920,086
    Population Median Age394040
    Population by Age0-9 Yrs339 (12%)1554 (11%)2356 (11%)
    10-19 Yrs361 (13%)1875 (14%)2883 (14%)
    20-29 Yrs301 (11%)1490 (11%)2139 (10%)
    30-39 Yrs344 (12%)1636 (12%)2416 (12%)
    40-49 Yrs345 (12%)1707 (12%)2570 (12%)
    50-59 Yrs424 (15%)1896 (14%)2886 (14%)
    60-69 Yrs254 (9%)1618 (12%)2491 (12%)
    70+ Yrs305 (11%)1592 (11%)2345 (11%)
    Median HH Income$49,396$55,162$58,106
    Total Household Income< 24K246 (23%)913 (17%)1236 (15%)
    25-49K280 (27%)1398 (26%)1969 (25%)
    50-74K158 (15%)1162 (22%)1700 (21%)
    75-99K145 (14%)692 (13%)1066 (13%)
    100-199K191 (18%)981 (18%)1572 (20%)
    200K+12 (1%)81 (1%)212 (2%)
    Highest Education LevelNo Diploma36610311333
    Diploma or GED59634064949
    Some College52423753501
    Assoc. Degree1257291206
    Bachelors Degree11310341836
    Higher Degree796471076
    Total Housing Units1,2245,8618,562
    --Owner-Occupied7793,9726,252
    --Renter-Occupied2541,2541,504
    Owner-Occupied Values< 100K29411661697
    100-199K39521263076
    200-299K704951005
    300-399K13105276
    400-499K22180
    500K+460118
    Total Working Age Population2,13210,58115,809
    In Work Force1,2696,2569,575
    Not In Work Force8634,3256,234
    Workforce Employed1,1906,0809,310
    Workforce Unemployed79176263
    Civlian Workforce1,2696,2569,574
    Military Workforce001
    Total Households1,0325,2267,756
    Family Households7513,6285,498
    Non-Family Households2811,5972,258
    Married Couple5012,7004,254
    Other Family2509281,243
    Married w/Child2291,0901,702
    Single Male w/Child23122156
    Single Female w/Child116406551

    Population Change Last Two Decades - Plus Projection

    2000%2010%2020%2030
    Michigan9,938,444-19,883,640+110,023,423+410,424,510
    Allegan County105,665+5111,408+8119,788+10132,040
    Kalamazoo County238,603+5250,331+7267,738+8290,091
    Van Buren County76,263076,258-175,546+277,172

    Total Working Age Population:

    Total Households:

    Total Working Age Population:

    Total Households:

    Total Working Age Population:

    Total Households:

    No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

    While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

    Common Questions and Answers

    What is the asking price for 1424 Michigan 89 in Otsego?
    The asking price for 1424 Michigan 89 is $415,000
    What is the building size of this Retail property in Otsego, MI?
    The size of the building/unit at 1424 Michigan 89 in Otsego is 1,400 square feet
    How much land does the Otsego, MI property at 1424 Michigan 89 include?
    1424 Michigan 89 in Otsego includes 0.750 acres of land
    What kind of Retail is the propery at 1424 Michigan 89?
    The property at 1424 Michigan 89 Otsego, MI 49078 is listed as a Vehicle Sales/Service Retail property
    What is the population within 1 mile of 1424 Michigan 89 in Otsego?
    The population within 1 mile of 1424 Michigan 89 Otsego, MI 49078 is 2,673 people.
    Who do I contact for questions about 1424 Michigan 89?
    You should contact the listing agent, Kyle Grooters, for any details regarding this commercial listing.

    Other Listings for Sale Nearby

    Address Price Sq Ft Acres
    108 East Allegan Street, Otsego, MI $299,900 5227 0.12
    101 East Allegan Street, Otsego, MI $241,500 4024 0.1
    20 South State Street, Gobles, MI $169,000 7020 0.61
    1325 South Drake Road, Kalamazoo, MI $405,000 1080 0.15
    5570 Gull Road, Kalamazoo, MI $875,000 34374 5.72
    180 Portage Street, Kalamazoo, MI CALL 77046 -
    4311 South Westnedge Avenue, Kalamazoo, MI $1,495,000 5037 1.4
    6175 South Westnedge Avenue, Kalamazoo, MI $7,500,000 71094 8
    3651 East Cork Street, Kalamazoo, MI $595,000 3024 1.46
    142 South Main Street, Wayland, MI $385,000 6717 0.09

    Closest Commercial Airports

    Airport Distance (mi)
    South Bend Regional Airport (SBN) 61
    Fort Wayne International Airport (FWA) 105
    MBS International Airport (MBS) 110
    Price
    $415,000
    Listing Agent
    Kyle Grooters - CRE Agent at

    Kyle Grooters

    Bradley Company

    VIEW AGENT PROFILE

    CONTACT AGENT

    Listing Co-Agent
    Kyle Grooters - CRE Agent at Bradley Company

    Vee Kimbrell

    Independent Agent
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