2184 Wealthy Street SE, Grand Rapids, MI 49506 (MLS# 21008912)

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

County: Kent Street #: 2184 Street Name: Wealthy Suffix: Street Post Direction: SE State: MI Zip Code: 49506 Area: Grand Rapids - G

OfficeContract Info

Status: Sold Current Price: $1,200,000 List Price: $1,500,000 Listing Date: 2021-03-08

General Property Info

New Construction: No Lot Measurement: Acres Lot Acres: 0.1 Lot Square Footage: 4400 Lot Dimensions: 40x106 Year Built: 1953 Road Frontage: 105 Mineral Rights: No Year Remodeled: 2017 Total # Units: 5 # Fin Bldg Lvls: 2 Total # Bldgs: 1 Total SqFt: 4151 Property Use Type: Net Leased (nnn) Full Baths: 5 Waterfront: No School District: East Grand Rapids

Tax Info

Tax ID #: 41-14-33-253-006 Taxable Value: 233426 SEV: 287200 For Tax Year: 2020 Seller's Annual Property Tax: 15346 Tax Year: 2020 Spec Assessment & Type: No Non-Conforming Use: No Zoning: C-1

Remarks Misc

Directions: LAKE DR TO WEALTHY, W TO BUILDING. Breton to Wealthy St East.

Status Change Info

Under Contract Date: 2021-10-28 Sold Date: 2021-11-30 Sold Price: $1,200,000 Sold Price/SqFt: 289.09

Additional Details

Total Parking Spaces: 5

Waterfront Options

Water Access Y/N: No

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

2184 Wealthy Street SE, Grand Rapids, MI 49506- MLS# 21008912

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