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    941 Wealthy St SE Grand Rapids, MI 49506

    For Sale
    $1,600,000

    Mixed-use building in Wealthy Theatre District with retail and apartment.

    Property size:
    6,000 SF
    Lot size:
    0.18 Acres

    Property Features for 941 Wealthy St SE

    General Information

    Size
    6,000 SF
    Lot size
    0.18 Acres

    Source: Pure Real Estate Brokerage, LLC Agent Courtney Marquis Mulica

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Wealthy Theatre District Mixed-Use Building

    Located in the Wealthy Theatre Historical District, this mixed-use building presents a live-work opportunity or investment potential. Originally constructed in 1916 as a Post Office, the property has been upgraded and maintained. The building includes 9 parking spaces. The layout is adaptable for various uses. The ground level retail space offers approximately 2,440 square feet of open space, featuring high ceilings and natural light. The upper level apartment is modern and includes 4 bedrooms and 1 bath. The property has separate entrances and separately metered utilities, offering a turn-key option for an owner user or for leasing out either the apartment or commercial space. Additional features include an outdoor patio and a large, polished concrete basement for storage. A new roof and water heater have been installed, and the mechanical systems and appliances have been upgraded. The property is located one mile from downtown Grand Rapids and two miles from US 131. Nearby retailers include Squib Coffee and Wine Bar, Electric Cheetah, Meanwhile Bar, and Testa Rosa.
    Insight Report Location Intelligence

    Current Use by Public Records

    Studio DVDP Photographer

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.6451546
    Latitude
    42.9557247

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    FAQs

    What type of property is this?
    Live-work space - Mixed-use building in Wealthy Theatre District with retail and apartment.
    Where is this live-work space located?
    The property is located at 941 Wealthy St SE Grand Rapids, MI.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: - Rare live-work opportunity in Wealthy Theatre Historical District; - 9 included parking spaces; - Turn-key with separate entrances and metered utilities for flexible use as owner-user or leasing
    (616) 304-5397
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    941 Wealthy St SE Grand Rapids, MI 49506
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