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$ 475,000
Est. payment /mo
Active
1007 Wealthy ST SE City Of Grand Rapids, MI 49506
3,600 SqFt
UPDATED:
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, ideally located between Electric Cheetah and The Meanwhile Bar. This historic 3,600 SF building offers incredible flexibility and endless possibilities in one of Grand Rapids' most desirable commercial districts. Whether your vision includes retail, restaurant, hospitality, office, residential, or a combination of uses, this property provides a unique opportunity to create something special. The property also includes parking for three vehicles and a rear yard with patio potential. An approved 10-year OPRA tax abatement is already in place, providing a significant financial advantage by freezing the existing taxable value for 10 years. Additional financial incentives may be available, including a $25,000 Uptown Facade Grant, $225,000 Revitalization and Placemaking grant, and Federal and Michigan historic tax credits. Land-contract terms are also available.
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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