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 Market51
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 20 at 4:06PM
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.
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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.
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Property Analytics
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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
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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
