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    1002 Division Ave Grand Rapids, MI 49507

    Sponsored
    For Sale
    $307,000

    Opportunity Zone, 9,544 sq ft lot

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional commercial land parcel, totaling 9,544 square feet, presents a compelling investment opportunity in Grand Rapids, Michigan. Located at 1002 Division Ave S, in the desirable 49507 zip code, this property is situated within an Opportunity Zone, offering significant tax advantages. The lot is zoned TN-TBA and can accommodate a building of up to 7,500 square feet. Its strategic location offers high visibility and accessibility, boasting adjacency to a Dollar Tree urban prototype store. Furthermore, the property benefits from the proximity to several new housing developments and a large mixed-use project currently under construction across the street. The total available area, including a shared parking lot agreement with a neighboring property, expands to 17,038 square feet, enhancing the overall utility and potential of this prime commercial land. This is an ideal location for a variety of commercial ventures, capitalizing on the area's growth and revitalization. The asking price is $307,000.

    Property Features for 1002 Division Ave

    General Information

    Property type
    Land

    HighLights

    • $307,000 asking price.
    • 9,544 square foot lot.
    • TN‑TBA zoning.
    • Potential for up to 7,500 square foot building.
    • Opportunity Zone designation.
    • Adjacent to a Dollar Tree.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Law Firm Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.667398219495
    Latitude
    42.945570739117

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    FAQs

    What type of property is this?
    Land - Opportunity Zone, 9,544 sq ft lot
    Where is this land located?
    The property is located at 1002 Division Ave Grand Rapids, MI.
    What is the asking price?
    The asking price for this property is $307,000.
    What are key features of this property?
    This property features: $307,000 asking price.; 9,544 square foot lot.; TN-TBA zoning.
    Request Owner's contact information
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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
    1002 Division Ave Grand Rapids, MI 49507
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