1710 Woodworth St NE

Sold Office
Catylist Listing ID: 30149902
Property Subtypes: Office Building, Other
Property Type: Office
Archived As: Sold

Overview / Comments

Outstanding Investment Opportunity in a locally owned property, occupied by a leading non-profit, Head Start for Kent County.

Head Start for Kent County has been operating since 1991 (26 years) and has been recognized as having one of the finest federally funded programs in the United States for the well-being and development of children. there are currently nine Head Start locations in Kent County.

The investment provides for an initial ten-year lease term, effective July 1, 2016 thru June 30, 2026. The lease also provides for two five-year renewal extensions with 3% annual increases. As a bonus to the investor purchasing this property, the annual rent is paid in advance (lump sum) on or before January 15 of each lease year.

Offered at an attractive 9% cap rate, the property is for sale at $1,348,000.00.

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Submarket/Township: Plainfield Corridor
Tax ID/APN: 41-10-33-302-025
Zoning: 201-COMMERCIAL

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,585 64,846 145,546
Median Age: 39.69 37.19 35.89
Households: 4,024 25,839 57,582
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