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$ 475,000
Est. payment | /mo
3,600 SqFt
$ 475,000
Est. payment | /mo
3,600 SqFt
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 3,600 sqft
Price per Sqft $131
Subdivision Mi
MLS Listing ID 70552913
Year Built 1884
Annual Tax Amount $6,415
Tax Year 2026
Lot Size 3,920 Sqft
Acres 0.09
Lot Dimensions 40 X 100
Property Sub-Type Commercial/Industrial
Property Description
Exceptional redevelopment opportunity on the vibrant Wealthy Street corridor, between Electric Cheetah and The Meanwhile Bar. This historic mixed-use building is construction-ready with Historic Preservation Commission approval, completed permit drawings and established construction pricing. Approved plans include four one-bedroom apartments with in-unit laundry and approximately 1,800 SF of main-floor white-box commercial space with two restrooms. Suitable for retail, hospitality, restaurant or office use. The property includes parking for three vehicles and a rear yard with patio potential. Incentives include a 10-year OPRA tax abatement, $25,000 Uptown facade grant, $226,983 Revitalization and Placemaking grant, and potential 20% federal and 5% Michigan historic tax credits. Projected ROI is 8.4%. Land-contract terms are available. All information, projections, plans and incentives are estimates and subject to buyer verification, program requirements and agency approval.
Location
State MI
County Kent
Area Grand Rapids (41032)
Interior
Heating None
Exterior
Roof Type Rubber
Building
Foundation Basement
Structure Type Pole,Wood
Others
Financing Cash,Land Contract
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Urban Soil Realty
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