DOWNTOWN BUILDING FOR SALE

Retail-Commercial for Sale
Catylist Listing ID: 30732394
Property Subtypes: Convenience Store, Free-Standing Building, Mixed Use, Parking Facility, Restaurant, Service Station/Gas Station, Street Retail, Tavern/Bar/Nightclub, Vehicle Related, Other
Building Size (RSF): 4,855 SF
Gross Building Area: See Agent
Sale Price: $499,999
Unit Price: $102.99 PSF
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/26/2021

Overview / Comments

FANTASTIC REDEVELOPMENT OPPORTUNITY IN DOWNTOWN GRAND RAPIDS. THE PROPERTY IS JUST AROUND THE CORNER FROM BELKNAP PARK AND GRIFF'S ICE HOUSE, MINS FROM CITY CENTER, AND AN EASY WALK TO THE RIVER AND 6TH STREET BRIDGE AND THE AMENITIES OF N. MONROE INCLUDING THE JUST ANNOUNCED SPECTRUM HEALTH DEVELOPMENT, JUST SOUTH OF THE CRESTON HEIGHTS MARKET, AND JUST NORTH OF MEDICAL MILE.

THE PROPERTY IS EXTREMELY FLEXIBLE AND WILL LEND WELL TO A MULTITUDE OF USES. LARGE STORAGE BASEMENT WITH HIGH CEILINGS

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: Northeast Business District
Taxing Authority: GRAND RAPIDS
Tax ID/APN: 41-14-19-101-006
Zoning: TCC: TRANSITIONAL CITY CENTER (COMMERCIAL)
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention, Other
Property Located Between: LEONARD & MICHIGAN STREET
Property Visibility: Excellent
Highway Access: EASY ACCESS TO I-96 & US-131
Airports: GERALD R FORD INTERNATIONAL AIRPORT
Tenancy: Single Tenant
Year Built: 1940
Construction/Siding: Brick
Parking Type: Surface
Internet Access: Cable
Zoning Description: TN-TCC, Traditional Neighborhood—Transitional City Center Zone District (City Center). 1. The Transitional City Center (TCC) District is the buffer district between the dense City Center Zone District and surrounding near-downtown neighborhoods. This District provides a transition in the intensity of the downtown development pattern for adjacent areas, however, it allows for more development than would ordinarily be allowed in general neighborhood commercial locations. 2. Placemaking Elements. a. Sensitivity in the redevelopment of these structures and in new development is necessary to reinforce the unique physical characteristics of downtown and surrounding neighborhoods, ensure compatibility with adjacent land uses and structures, and maintain neighborhood stability. b. The presence of older, often historic, large warehouse buildings in these transition areas requires dense development to ensure proper reuse of these structures. c. Development and redevelopment in this Zone District combines these elements to create and maintain a compact, transit-friendly, walkable, mixed-use environment. d. Targeted Commercial Corridors promote a concentration of retail and entertainment uses that will provide a more consistent shopping experience and enhance the ability of these uses to be financially successful.
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,246 126,361 261,950
Median Age: 28.03 32.46 33.63
Households: 7,328 50,101 100,404
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