Retail Building with Drive-Up
1430 Lake Drive SE, Grand Rapids, MI 49506
For Sale
New
$1,500,000
Commercial Sale, Grand Rapids, MI
Property Size2,955 SF
Lot Size0.33 Acres
Price / SF$507.61
Days on Market2
Property Features for 1430 Lake Drive SE
General Information
Property type
Property subtype
Zoning description
Bathrooms
Full bathrooms
Rooms
Parking
Interior features
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
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Tax Description
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Utilities
Utilities
Heating system
Cooling system
Building Details
Year built
Floors in Building
Number of units
Building materials
Buildings
Listing Agency:
RE/MAX of Grand Rapids (FH) · RE/MAX International
(616) 957-0700
Listed By:
Cheryl A Grant · License MI #6501328915
(616) 822-3206
Added: Nov 11
Last Checked: Nov 12 at 7:06AM
MLS# 26059701
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1990, this brick retail property contains 2,955 square feet on a 0.33-acre lot, with two retail suites and 14 on-site parking spaces. A drive-up ATM and billboard are also part of the property. The ATM lease with LMCU runs through 2038 and includes built-in rent increases; the billboard lease extends through 2035. The two suites renew annually. TN-TBA zoning allows retail, salon/spa, studio, gallery, cafe, and live-work uses.
The roof was replaced in 2017 and has a 15-year warranty. The main HVAC system was also replaced in 2017, and the rear suite has a separate rooftop unit. Heating is forced air, and cooling is central air.
The roof was replaced in 2017 and has a 15-year warranty. The main HVAC system was also replaced in 2017, and the rear suite has a separate rooftop unit. Heating is forced air, and cooling is central air.
Key Highlights
- 2,955 SF brick retail building on 0.33 acres
- Two retail suites and 14 on‑site parking spaces
- Drive‑up ATM leased to LMCU through 2038, with built‑in rent increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,835
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$856,700
$856.7K
Cap Rate 7%
$611,929
$611.9K
Cap Rate 9%
$475,944
$475.9K
Market Conditions
NOI Build-Up for 2,955 SF
Gross rent
$64.9K $21.96/SF
− Vacancy
−$3.7K −$1.25/SF
EGI
$61.2K $20.71/SF
− OpEx
−$18.4K −$6.21/SF
NOI
$42.8K $14.50/SF
Area
Grand Rapids, MI
Vacancy
5.70%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$856,700
Cap Rate 7%
$611,929
Cap Rate 9%
$475,944
Alternative Uses
Best Use
Retail
$611.9K
$535.4K – $713.9K
NOI $42,835 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$685.8K
$600.1K – $800.1K
NOI $48,004 @ 7.0% cap · market cap 3.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,133
Businesses Nearby
29k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 31%
Beauty & Spa 11%
Citgo
Shops & Services
9,397 visits/mo
0.2 miles
Jimmy John's
Dining
5,168 visits/mo
0.1 miles
Family Dollar
Shops & Services
4,275 visits/mo
0.3 miles
Jude's Barbershop
Beauty & Spa
3,264 visits/mo
0.2 miles
Huntington Bank
Shops & Services
3,011 visits/mo
0.3 miles
Demographics for 49506, MI
33,050
Population
13,262
Households
2.5
Avg Household Size
34
Median Age
67%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
4,527
Density / Sq Mi
$112,287
Median Household Income
$48,631
Median Earnings
$1,305
Median Rent
$338,600
Median Home Value
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Market
Average Price Trend$/SF for Retail space in Grand Rapids, MI
Properties on Market for Retail space in Grand Rapids
Frequently Asked Questions
What type of property is this?
Retail space - TN-TBA zoning supports retail, salon/spa, studio, gallery, cafe, and live-work uses.
Where is this retail space located?
The property is located at 1430 Lake Drive SE Grand Rapids, MI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 2,955 SF brick retail building on 0.33 acres; Two retail suites and 14 on‑site parking spaces; Drive‑up ATM leased to LMCU through 2038, with built‑in rent increases
