Financial
Distress signals
Property profile

1007 Wealthy St SE Grand Rapids, MI 49506

FOR SALE
Other commercial real estate
Property ID
US43-1340121
4,553 SF 0.09 ac lot Built 1884
Last sale Feb 2024 · $194,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 2-yr Hold Held for 2 years. Free & Clear No active or open recorded mortgage detected.
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Market Trends Soon
1007 Wealthy St SE, Grand Rapids, MI 49506 For Sale
$475,000 4,553 SF
1007 Wealthy St SE, Grand Rapids, MI 49506
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Property summary

AI-generated overview

A historic mixed-use property built in 1884 located on Wealthy Street in Grand Rapids, positioned between Electric Cheetah and The Meanwhile Bar. The property has approved plans from the Historic Preservation Commission with completed permit drawings. The residential component is planned as four one-bedroom apartments, each including in-unit laundry. The plans also include approximately 1,800 square feet of main-floor commercial space in a white-box condition with two restrooms. The commercial…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2021

What does the county charge?
$3k
Tax billed · 2021
Assessed value · 2023$168k
Effective rate1.96%

Value estimate

· Sep 2026
$195k
$176k – $215k
AI approach$195k
NOI build-up
Gross scheduled income$69k
Vacancy & credit loss−$6k
Operating expenses−$24k
NOI · 8.37% cap applied$40k

Realmo valuation models over county records and 6 qualifying comparable sales.

Recently sold

What actually traded nearby?
$101/SF
ZIP average, outlier-cleaned · 20 recorded sales of this use type
Observed band · Q1–Q3$43 – $127
Qualifying comparables6

Cap rate analysis

How does the asset earn?
8.37%
$40k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
TN-TBA
JurisdictionKENT

Location intelligence

Which uses thrive at this corner?
Best fit: Kitchen & Bath
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Kitchen & Bath12.2
Electrical Service11.0
Daycare Center10.8

Location

1007 Wealthy St SE Grand Rapids, MI 49506
County assessor Recorded deeds · 1 transfer 6 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 6 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
822 Wealthy SE, Grand Rapids, MI 49506-1579 $108,000 Nov 2023 3,400 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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