Redevelopment Opportunity

Vacant Land for Sale
Sale Pending/Contingent
Catylist Listing ID: 30290215
Property Subtypes: Hospitality, Multi-Family, Office, Residential (Single Family), Retail, Retail-Pad, Other
Status: Pending/Contingent
Gross Land Area: 1.76 Acres
Sale Price: $1,750,000
Unit Price: $994,318 Per Acre
Sale Terms: Cash to Seller, Build-to-Suit
Cap Rate: Undisclosed
Last Updated: 10/17/2018

Overview / Comments

We are pleased to present a significant opportunity to redevelop a key piece of property in the highly desirable Creston Neighborhood. Current Traditional Business Area (TBA) zoning in close proximity to downtown Grand Rapids, with plenty of room for surface parking makes this an ideal location for a mixed use development project site.

The property is located just 1.25 miles north of the City of Grand Rapids Central Business District. The Creston Neighborhood is ripe for redevelopment which is already underway. The neighborhood is home to established and newly located businesses.

The property is collectively comprised of three (3) separate parcels that total 1.76 acres. Currently, there are two (2) existing functionally obsolete structures on 1329 and 1359 Plainfield that are approximately 11,969 SF and 9,588 SF respectively. It is recommended they are demolished and replaced with new construction, thus the value is being driven by the land as a development site.

Please contact listing agent for additional details.

Link to Marketing Package:
https://drive.google.com/file/d/11lgRyjJT6-FCBYbEzJT0Lwm4hvum_ytO/view?usp=sharing

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Submarket/Township: Northeast Business District
Tax ID/APN: 41-14-18-353-046, 41-14-18-353-035, 41-14-18-353-024
Zoning: TN-TBA & TN-TCC
Property Located Between: Ann Street & Leonard Street
Property Visibility: Excellent
Largest Nearby Street: Plainfield & Leonard
Zoning Description: 1329 Plainfield - TN-TBA 1359 Plainfield - TN-TBA 1367 Grove Place - TN-TCC
Development Name: TBD
Topography: Level
Water Service: Municipal
Sewer Type: Municipal

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,628 125,418 260,589
Median Age: 28.68 32.88 33.71
Households: 7,962 50,050 99,717

Contact

© Copyright 2001-2018 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.