Prime Downtown Building for sale

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30028035
Property Subtypes: Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub
Status: Pending
Building Size (RSF): 4,870 SF
Gross Land Area: 0.06 Acres
Sale Price: $374,000
Unit Price: $76.80 PSF
Ceiling: 11 ft.
Property Use Type: Investment, Business
Building Name: 14 WESTON ST SE
Usable Size (USF): 7,200 SF
Core Factor: 60%
Sale Terms: Cash to Seller, Purchase Money Mortgage, Other
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 8/3/2017

Overview / Comments

Great Downtown location, next to Art Prize Hub, this historical building is 4870 sq feet on two floor. Building offers a 2 story, multi tenant commercial building with a very large full basement. 14 Weston in it's early days did have a lift, from basement to the 2nd floor. The Brick exterior, flat roof with a built up membrane roof system boasts nearly 2400 sq ft of rental space, on each floor. Main floor barrier free, 2nd floor 4 steel columns tied to the structural improvements make it very possible to add a 3rd floor. 2000 PLUS sq ft basement with 11 ft ceilings. Built in 1890, this building is very solid, excellent construction and offers a great long term investment. Original brick interior exposed, great hardwood floors and very high ceilings. This trust sale completed an appraisal, inspections and it's ready for new owners. Current Tenant leases are month to month. The building structure is in good condition with many updates over the years including 12 inch STEEL I-Beam supports to the roof. Great live, work space, 2nd floor could be condo's, perfect Brewery, Bar & Restaurant. Property has no parking and no exterior space.

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Submarket/Township: Central Business District
Taxing Authority: CITY OF GRAND RAPIDS
Tax ID/APN: 41-14-30-304-010
Zoning: COMMERCIAL MIXED USE
Retail Clientele: General, Business
Property Located Between: Division Ave & Sheldon.
Property Visibility: Good
Largest Nearby Street: Division Ave or Fulton Ave
Feet of Frontage: 35
Highway Access: M 131, M 96, M 196
Airports: GRR
Site Description: Building is locked between other buildings. walls locked. City Sidewalk.
Area Description: Center of the City of Grand Rapids.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 1,200 SF
Property Condition: Average
Year Built: 1890
Year Renovated: 1995
Roof Type: Flat
Construction/Siding: Brick, Steel Frame
Exterior Description: Brick & Stone
Parking Description: None
Sprinklers: None
Heat Type: Electricity, Natural Gas, Hot Water, Steam
Heat Source: Central
Internet Access: Cable
Interior Description: 3 retail tenant spaces
Zoning Description: TN-CC Traditional Neighborhoods - City Center District
Lot Frontage: 35
Lot Depth: 85
Water Service: Municipal
Sewer Type: Municipal
Easements: Pipelines, Electric Lines, Water Rights, Utilities
Easements Description: titles
Land Ownership: fee simple
Legal Description: W 34 FT OF LOT 1 BLK 17 W 34 FT OF N 1/2 OF LOT 2 BLK 17*BOSTWICK & CO S ADDITION

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,097 153,836 290,075
Median Age: 28.28 31 33.6
Households: 9,389 57,484 111,191
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