2184 Wealthy Street SE, Grand Rapids, MI 49506
$1,200,000
Property Type:
Commercial Sale
Square Footage:
4,151
Lot Size (sq. ft.):
4,400
Status:
Sold
Current Price:
$1,500,000
List Date:
3/22/2021
Last Modified:
11/30/2022
Description
This East Grand Rapids Mixed Use Building is a very solid investment. Recent retail space changes have also increased longer-term leases. It's one rare opportunity to own an East Grand Rapids asset and prime location.
Located at the center / crossroads of East Grand Rapids this building sits on the southwest corner on two street fronts. Features include 4 income units with 4 parking spots with potential for expansion to build more rental space. The 2 Bedroom Apartment/Office space and 3 retail units offers a strong historical revenue stream and 100% Occupancy.
Recent improvements include a newer roof, newer windows, electrical panels updates, hot water heaters, HVAC and more. Pretty easy to show with 48 hours notice.
More Information MLS# 21008912
Location & Property Info
Cross Streets: Wealthy St SE & Lake Dr SE
Property Sub-Type: Retail
Area: Grand Rapids - G
Municipality: East Grand Rapids
Office/Contract Info
Auction or For Sale: For Sale
List Price/SqFt: 361.36
Prop Avail for Lease?: No
General Property Info
New Construction: No
Lot Dimensions: 40x106
Road Frontage: 105
Mineral Rights: No
Waterfront: No
Year Remodeled: 2017
Total # Units: 5
Total # Bldgs: 1
# Fin Bldg Lvls: 2
Total SqFt: 4151
Property Use Type: Net Leased (nnn)
School District: East Grand Rapids
Lot Measurement: Acres
Lot Acres: 0.1
Lot Square Footage: 4400
Year Built: 1953
Full Baths: 5
Tax Info
Taxable Value: 233426
SEV: 287200
For Tax Year: 2020
Seller's Annual Property Tax: 15346
Tax Year: 2020
Homestead %: 0
Spec Assessment & Type: No
Non-Conforming Use: No
Zoning: C-1
Tax ID #: 41-14-33-253-006
Remarks & Misc
Legal: E 40' of N 106' of Lot #2 * Parley H Brown Sub.
Status Change Info
Sold Price/SqFt: 289.09
Under Contract Date: 2021-10-28
Sold Date: 2021-11-30
Sold Price: $1,200,000
Waterfront Options
Water Access Y/N: No
Additional Details
Total Parking Spaces: 5
Property Use
Net Leased (nnn): 1
Utilities Attached
Natural Gas Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Uses
Professional/Office: 1
Restaurant: 1
Retail: 1
Construction Type
Frame/Wood: 1
Exterior Material
Brick: 1
Vinyl Siding: 1
Heat Source
Natural Gas: 1
Sale Conditions
None: 1
Heat Type
Forced Air: 1
Business Includes
Real Estate: 1
Util Avail at St
Cable Available: 1
Natural Gas Available: 1
Purchase Terms Avail
Cash: 1
Other: 1
Possession
Negotiable: 1
Location Property Info
County: Kent
Street #: 2184
Street Name: Wealthy
Suffix: Street
Post Direction: SE
State: MI
Zip Code: 49506
OfficeContract Info
Status: Sold
Current Price: $1,200,000
List Price: $1,500,000
Listing Date: 2021-03-08
Remarks Misc
Directions: LAKE DR TO WEALTHY, W TO BUILDING. Breton to Wealthy St East.
Property Features
Property Use: Net Leased (nnn)
Uses: Professional/Office; Restaurant; Retail
Business Includes: Real Estate
Construction Type: Frame/Wood
Exterior Material: Brick; Vinyl Siding
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Natural Gas Connected
Util Avail at St: Cable Available; Natural Gas Available
Heat Source: Natural Gas
Heat Type: Forced Air
Purchase Terms Avail: Cash; Other
Sale Conditions: None
Possession: Negotiable
Listing Office:
Keller Williams GR East
Listing Agent:
Todd Roesler
Last Updated: November - 30 - 2022
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of MICHRIC , and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
