1007 Wealthy Street SE Grand Rapids, MI 49506
Retail
MLS #: 26043253
Courtesy Of Parkland Realty
940 Monroe Ave NW, Grand Rapids, MI 49503
940 Monroe Ave NW, Grand Rapids, MI 49503
Property InformationDescription
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.
Features
- Age: Over 50 Years Old
- Amenities: Cable Ready
- Building Units: 2
- Exterior Type: Wood Siding
- Legal Description: LOT 1683* STEINMANN S ASSESSOR S PLAT NO 58
- MLSID: 26043253
- Roof Type: Rubber
- Rooms: Basement
MAP & DIRECTIONS
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