The Tillman Property

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30610636
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other
Status: Pending
Building Size (RSF): 4,013 SF
Gross Land Area: 0.96 Acres
Sale Price: $1,295,000
Unit Price: $322.70 PSF
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/3/2020

Overview / Comments

The Tillman family has owned 1247 Monroe Avenue for approximately four decades operating as one of Grand Rapids area's premier dining and cocktail destinations. They have now listed the real estate for sale.

The property's nearly one acres size, its reasonable proximity to the central downtown Grand Rapids business area, plus the nearby Grand River; make it an unusually attractive development opportunity. The property's relatively rectangular shape lends it to horizontal and vertical development ideas. See "Grand River Restoration Project Information."

Main Building is block construction. Building and improvements sold in "as is" condition.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: Northeast Business District
Taxing Authority: City of Grand Rapids
Tax ID/APN: 411313476007.00000000000
Retail Clientele: General, Family, Business, Tourist, Recreation, Convention, Other
Property Located Between: Leonard and Ann Streets
Property Visibility: Excellent
Largest Nearby Street: 131 Expressway
Feet of Frontage: 173
Highway Access: Nearby 131 Expressway
Airports: Gerald R. Ford International Airport
Area Description: Primary current users include: office, industrial, retail, including landmark developments.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Property Condition: Fair
Year Built: 1963
Roof Type: Flat
Construction/Siding: Block
Exterior Description: Masonry
Parking Type: Surface
Sprinklers: Other
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Other
Internet Access: Cable
Interior Description: Primarily carpet with ceiling tiles.
Zoning Description: TN-TCC (Traditional Neighborhood), (Transitional City Center), Grand River Overlay (OD-GR), City of Grand Rapids Marijuana Zone: "Probably suitable with waivers.:"
In Flood Plain?: Yes
Lot Frontage: 172.93
Lot Depth: 243.14
Water Service: Municipal
Sewer Type: Municipal, Storm
Easements: Other
Easements Description: Of record.
Land Ownership: Trust and individual
Legal Description: See attached

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,069 127,867 258,836
Median Age: 27.65 32.73 33.64
Households: 6,422 50,861 99,135


Photograph of Listing Agent

Frederick Otterbein Jr.

Liberty Realty Corp MI 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.