For Sale - 59 Commerce Ave SW

Retail-Commercial for Sale
Also listed as Office
Catylist Listing ID: 30581700
Property Subtypes: Mixed Use, Restaurant, Street Retail
Building Size (RSF): 4,266 SF
Gross Land Area: 0.12 Acres
Sale Price: $850,000
Unit Price: $199.25 PSF
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/23/2020

Overview / Comments

One of downtown Grand Rapids' last developable buildings now available for sale at 59 Commerce. Located in the heart of the entertainment district and steps away from all the action, this historic building is ready for a new life. Nearly a wide open footprint, building includes a partial basement and drive-in door off the back alley. This is a historic building and site is not expandable vertically. Neighboring businesses include Stella's, Two Beard's Deli, VanAndel Arena, Studio Park, Tavern on the Square, HopCat, Max's South Seas, New Hotel Mertens and the soon to open Canopy by Hilton to name a few.

Financials

Finance Data Year 2009
Real Estate Taxes - Annual($) $5,691 (Annual)

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: Central Business District
Taxing Authority: City of Grand Rapids
Tax ID/APN: 41-13-25-435-010
Zoning: COMMERCIAL
Property Visibility: Excellent
Site Description: LOT 20* KENT PLAT SPRING STREET
Tenancy: Single Tenant
Construction/Siding: Brick

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 18,001 153,691 288,877
Median Age: 28.23 30.75 33.6
Households: 8,482 57,208 110,829

Contact

Photograph of Listing Agent

David S. Rapp

Colliers International
CARWM Member
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Alliance of REALTORS West Michigan nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.