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    431 Wealthy St Grand Rapids, MI 49503

    For Sale
    $1,500,000

    Prime Retail Space, High Growth Area

    Property size:
    12,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 12,000 square foot storefront property, located at 431 Wealthy St SW, Grand Rapids, MI 49503 (APN: 41-13-25-383-004), presents a unique investment opportunity. Situated on a 0.61-acre lot at the corner of Wealthy and Market Streets, this historic Grand Rapids Railway Station boasts a prime location at the gateway to the city. The property benefits from its position directly across from Grand Rapids' largest planned development along the Grand River, a transformative project encompassing a 12,000-capacity amphitheater (projected completion 2025), up to 1,750 new apartments, extensive retail space, and significant parkland. This revitalization project is designed to enhance the Grand River's rapids and create a vibrant downtown area. All utilities are in place, and the property's location within an Opportunity Zone provides significant tax advantages for investors. This landmark building offers immense potential for a variety of retail uses, capitalizing on the substantial growth and increased foot traffic expected from this exciting development. The asking price is $1,500,000. Don't miss this chance to own a piece of Grand Rapids history and secure a prominent position in a rapidly expanding urban core.

    Property Features for 431 Wealthy St

    General Information

    Property type
    Individual retail properties
    Square Feet
    12,000 SF
    Lot Size
    26,572 SF

    HighLights

    • High‑visibility location directly across from Grand Rapids' major mixed‑use development on the Grand River.
    • Prime location within a rapidly expanding area featuring a 12,000‑seat amphitheater, 1,750 new apartments, retail space, parks, and green areas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    King Ice Cream ... Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.6786223
    Latitude
    42.9563655

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    FAQs

    What type of property is this?
    Individual retail property - Prime Retail Space, High Growth Area
    Where is this individual retail property located?
    The property is located at 431 Wealthy St 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: High-visibility location directly across from Grand Rapids' major mixed-use development on the Grand River.; Prime location within a rapidly expanding area featuring a 12,000-seat amphitheater, 1,750 new apartments, retail space, parks, and green areas.;
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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
    431 Wealthy St Grand Rapids, MI 49503
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