Redevelopment - Prime Property near Downtown

Multi-Family for Sale
Catylist Listing ID: 30003916
Property Subtypes: Duplex/Fourplex, Government Subsidized, Mid-Rise, Student Housing, Other
Number of Units: 2 Units
Building Size (RSF): 8,516 SF
Gross Building Area: See Agent
Gross Land Area: 1.05 Acres
Sale Price: $1 - 700,000
Unit Price: $0.50 Per Unit
Property Use Type: Investment
Building Name: 4 Parcels
Usable Size (USF): 8,516 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/9/2018

Overview / Comments

Make an Offer for this unique property opportunity! 1.05 Acres with 188' frontage on College Ave, NE, located very close to the Medical Mile and Downtown. Properties are 1/2 block from 196 and College Ave. ramp. The site has 2 residential homes and 8,516 SF industrial space with office. The homes and industrial space may provide some great income and storage/staging space while going through the redevelopment process. Paved parking area with possibilities of 2 points of ingress and egress. Submit Offers!
Properties are being sold together as a package.

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Submarket/Township: Central Business District
Taxing Authority: City of Grand Rapids
Tax ID/APN: 41-14-19-406-029, 41-14-19-406-031, 41-14-19-406-032, 41-14-19-406-024
Zoning: SDIT & LDR
Property Located Between: Michigan Ave. & Leonard
Highway Access: Less than 1/2 mile from 196 & College Ramp
Area Description: Growing area with lots of redevelopment and new mixed use and multi-family housing.
Total Number of Buildings: 4
Property Condition: Good
Parking Type: Surface
Zoning Description: SDIT (Special District Industrial Transportation) & LDR (Low Density Residential)
Lot Frontage: 188
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,972 148,271 278,159
Median Age: 28.92 31.86 33.51
Households: 9,873 56,202 106,584
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