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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 BusinessandRealEstate
Listing Status Active
Purchase Type For Sale
Square Footage 3,600 sqft
Price per Sqft $131
MLS Listing ID 65026043253
Year Built 1884
Lot Size 3,920 Sqft
Acres 0.09
Property Sub-Type BusinessandRealEstate
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 Area41142Grandrapids
Rooms
Basement Common Storage Locker
Interior
Heating None
Fireplace No
Exterior
Parking Features Gravel
Utilities Available PhoneAvailable
View Y/N No
Roof Type Rubber
Building
Foundation Basement
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Grand Rapids
Others
Acceptable Financing Cash, Contract
Listing Terms Cash, Contract
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Listed by Bradley S Veneklase of Urban Soil Realty
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