900 Leonard St Grand Rapids, MI 49504
- Commercial real estate
- 24,630 SF
- 1.10 lot acres
Current Use by Public Records
- Victory on Leonard / Apartment Complex
Property Details for 900 Leonard St
- Year built
- 1931
- Lot size
- 1.10 lot acres
- Property size
- 24,630 SF
- Zone code
- TN-TBA
- Property type
- Commercial real estate
- APN
- 41-13-23-227-025
- APU
- 411323227025
Description
This exceptional 1,540 square foot retail space is located at 900 Leonard Street NW in Grand Rapids, Michigan, 49504. The property, built in 2023, is a Class A building and part of a larger mixed-use development. The entire building comprises 1,540 square feet across four stories, currently entirely vacant and available for immediate occupancy. The space is ideally suited for a business seeking high visibility and strong foot traffic. Its location along the Leonard Street Corridor offers excellent exposure to a thriving neighborhood. A significant advantage is the presence of 120 fully leased, market-rate apartment units within the same development, providing a built-in customer base and strong potential for synergy. The space is designed to serve as a vibrant amenity for residents and the surrounding community. The property is categorized as both retail and multifamily, reflecting its unique position within a dynamic mixed-use environment. This presents a rare opportunity for a business to establish itself in a rapidly growing area with a captive audience. The property offers a unique blend of retail space and residential integration, creating a vibrant and thriving community hub. This is a turnkey opportunity for a business seeking a high-impact location in a desirable Grand Rapids neighborhood.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $485,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $640,000
- 6.5%
- $610,000
- 7%
- $645,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $620,000
- Geo Method
- $640,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $570,000
- Retail
- $630,000
- Mixed-Use
- $575,000
- Hospitality
- $645,000
- Educational
- $625,000
- Residential Income
- $620,000
- Energy
- $505,000
- Income-Based Land
- $630,000
- Food Service
- $495,000
Location Insight
- Map
- Local Demand
- City
- Grand Rapids
- County
- Kent
- State
- Michigan
- Longitude
- -85.6912
- Latitude
- 42.985
- CBSA code
- 24340
- CBSA name
- GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA