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    842 Leonard St Grand Rapids, MI 49504

    For Sale
    $495,000

    Prime NW Grand Rapids location, high income potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This Grand Rapids, MI storefront property at 842 Leonard St NW offers a unique investment opportunity. The building consists of three distinct areas: a ground floor storefront currently leased as a salon suite (Suite #1, approximately 700 square feet) generating $600 monthly income plus utilities

    Property Features for 842 Leonard St

    General Information

    Property type
    Individual retail properties

    HighLights

    • Grand Rapids, MI storefront at 842 Leonard St NW, offering a unique investment opportunity.
    • 700 sq ft ground floor storefront currently leased as a salon suite (Suite #1), generating $600/month in net income.
    • Building features three distinct areas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Genesis beauty salon Beauty Salon

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.6898197
    Latitude
    42.9850592

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    FAQs

    What type of property is this?
    Individual retail property - Prime NW Grand Rapids location, high income potential.
    Where is this individual retail property located?
    The property is located at 842 Leonard St Grand Rapids, MI.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: Grand Rapids, MI storefront at 842 Leonard St NW, offering a unique investment opportunity.; 700 sq ft ground floor storefront currently leased as a salon suite (Suite #1), generating $600/month in net income.; Building features three distinct areas.
    Request Owner's contact information
    842 Leonard St Grand Rapids, MI 49504
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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
    842 Leonard St Grand Rapids, MI 49504
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