Mixed-Use Property with
For Sale
$295,000
2164 Division Avenue S, Grand Rapids, MI 49507
Commercial Sale, Grand Rapids, MI
Property Size2,583 SF
Lot Size0.01 Acres
Price / SF$114.21
Days on Market50
Property Features for 2164 Division Avenue S
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
COM-IMP
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Elementary school district
Grand Rapids
Middle school district
Grand Rapids
High school district
Grand Rapids
Directions
On division between Burton and Alger
Standard status
Active
APN
41-18-07-103-012
Size
2,583 SF
Lot size
0.01 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 10 BLK 7* KENWOOD ADDITION - REPLATTED
Tax Annual Amount
4422
Legal Description
LOT 10 BLK 7* KENWOOD ADDITION - REPLATTED
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
1984
Number of units
3
Building materials
Vinyl Siding, Wood Siding
Roof type
Composition
Listing Agency:
Keller Williams GR East · Keller Williams Realty
(616) 575-1800
Listed By:
Jeffrey Bode
(616) 856-6442
Added: Aug 31
Changed: Oct 16
Last Checked: Oct 19 at 10:06PM
MLS# 26046183
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,583-square-foot mixed-use property contains three occupied units: one commercial space and two attached apartments. Built in 1984, the building has vinyl and wood siding, a composition roof, and forced-air heating. The parcel measures 0.01 acres, and cable service is available.
The property is located at 2164 Division Avenue S in Grand Rapids, along South Division Avenue between Burton and Alger.
The property is located at 2164 Division Avenue S in Grand Rapids, along South Division Avenue between Burton and Alger.
Key Highlights
- Three occupied units: one commercial space and two attached apartments
- 2,583 square feet on a 0.01‑acre parcel
- Located on Division Avenue S between Burton and Alger in Grand Rapids
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,518
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$490,360
$490.4K
Cap Rate 7%
$350,257
$350.3K
Cap Rate 9%
$272,422
$272.4K
Market Conditions
NOI Build-Up for 2,583 SF
Gross rent
$47.4K $18.36/SF
− Vacancy
−$2.8K −$1.10/SF
EGI
$44.6K $17.26/SF
− OpEx
−$20.1K −$7.77/SF
NOI
$24.5K $9.49/SF
Area
Grand Rapids, MI
Vacancy
6.00%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$490,360
Cap Rate 7%
$350,257
Cap Rate 9%
$272,422
Alternative Uses
Best Use
Mixed Use
$407.4K
$356.5K – $475.3K
NOI $28,516 @ 7.0% cap · market cap 9.67%
Second Best
Apartment 5plus
$350.3K
$306.5K – $408.6K
NOI $24,518 @ 7.0% cap · market cap 8.31%
Theoretical Best
Specialty Retail
$599.4K
$524.5K – $699.4K
NOI $41,961 @ 7.0% cap · market cap 14.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Office units
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
Explore this area
Business Placement
Demographics for 49507, MI
38,137
Population
13,773
Households
2.8
Avg Household Size
30
Median Age
27%
College-Educated
78%
High-School Grad
5.5 sq mi
ZIP Area
6,934
Density / Sq Mi
$56,578
Median Household Income
$34,939
Median Earnings
$1,114
Median Rent
$179,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three occupied spaces combine a commercial unit with two attached residential units.
Where is this mixed-use property located?
The property is located at 2164 Division Avenue S Grand Rapids, MI.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Three occupied units: one commercial space and two attached apartments; 2,583 square feet on a 0.01‑acre parcel; Located on Division Avenue S between Burton and Alger in Grand Rapids
