Historic Apartment Redevelopment
For Sale
$12,000,000
1661 Monroe Ave NW, Grand Rapids, MI 49505
Five-story brick structure with river frontage, exposed timber beams, and potential for high-density residential conversion.
Property Size170,500 SF
Price / SF$70.38
Days on Market1597
Property Features for 1661 Monroe Ave NW
General Information
Standard status
Active
Size
170,500 SF
Property subtype
Multifamily
Zoning
TN-TCC - Traditional Neighborhood - Transitional City Center
Additional Details
Highway Access
Yes
Amenities
Power
Water
Sewer
Natural Gas
Building Details
Year Built
1873
Buildings
1
Stories
5
Construction
post and beam
Listing Agency:
NAI Wisinski of West Michigan
(616) 575-7022
Listed By:
Stuart Kingma · License #6502368294
(616) 575-7022
Source:
Carwm.resimplifi
Added: Apr 19, 2022
Changed: Aug 29
Last Checked: Aug 31 at 12:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Wisinski of West Michigan
Investment Insights
Based on property information with market context.
This five-story brick building contains approximately 170,500 SF in an L-shaped configuration and is positioned for adaptive reuse as a high-density residential property. The structure features post-and-beam construction, exposed timber beams, wood ceilings and floors, high ceilings, large windows, and a layout capable of supporting a central-hallway residential plan. The building is structurally sound, with face brick reported to be in good condition. The property could accommodate between 200 and 240 residential units.
The building fronts the Grand River and is visible from US-131 Highway. More than 450 feet of river frontage is associated with the building, while the planned site condominium includes over 930 feet of water frontage. The site also provides over two acres of paved surface area for parking, with additional parallel street parking nearby. Zoning is TN-TCC - Traditional Neighborhood - Transitional City Center, with access to the freeway and downtown Grand Rapids.
The building fronts the Grand River and is visible from US-131 Highway. More than 450 feet of river frontage is associated with the building, while the planned site condominium includes over 930 feet of water frontage. The site also provides over two acres of paved surface area for parking, with additional parallel street parking nearby. Zoning is TN-TCC - Traditional Neighborhood - Transitional City Center, with access to the freeway and downtown Grand Rapids.
Key Highlights
- Approximately 170,500SF, five‑story brick building in an L‑configuration
- Potential capacity for between 200 and 240 residential units
- Over 450 feet of frontage along the Grand River
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
676
Businesses Nearby
Explore this area
Business Placement
Demographics for 49505, MI
31,444
Population
14,197
Households
2.2
Avg Household Size
36
Median Age
40%
College-Educated
96%
High-School Grad
8.8 sq mi
ZIP Area
3,573
Density / Sq Mi
$71,692
Median Household Income
$43,778
Median Earnings
$1,248
Median Rent
$227,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-story brick structure with river frontage, exposed timber beams, and potential for high-density residential conversion.
Where is this apartment building located?
The property is located at 1661 Monroe Ave NW Grand Rapids, MI.
What is the asking price?
The asking price for this property is $12,000,000.
What are key features of this property?
This property features: Approximately 170,500SF, five‑story brick building in an L‑configuration; Potential capacity for between 200 and 240 residential units; Over 450 feet of frontage along the Grand River
