Entity Owned Property summary
This exceptional 10,672 square foot property in Grand Ledge, Michigan, presents a unique redevelopment opportunity. Located at 205 W Scott St, this 0.55-acre lot features two buildings, constructed in 1879 and 1960, with a combined two stories and 8-20 foot ceilings. Previously used as a church and school, and more recently as office condos, the property is vacant as of August 1, 2024, and zoned for commercial use. The asking price is $329,900 ($30.91/sq ft, $164,950/unit). The property boasts ample parking and is situated in the heart of downtown Grand Ledge. Prior studies indicate the availability of local, state, and federal grant funding for facade improvements, demolition, and structural enhancements. The city of Grand Ledge, along with MEDC and LEAP, are eager to collaborate with the new owner on this project. This is a prime location with significant potential for various uses. The property includes two units and has a permitted commercial zoning. The APN is 400-000-640-015-00.
Property profile
VerifiedCap rate & NOI
Current use
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Charitable Organization Social Service Agency
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Association / Organization
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Single-Family Residential Districts are designed to be the most restrictive of the residential districts. The intent is to provide for an environment of predominantly one-family detached dwellings of varying densities al…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
R-MD · Grand Ledge, MISingle-Family Residential Districts are designed to be the most restrictive of the residential districts. The intent is to provide for an environment of predominantly one-family detached dwellings of varying densities al…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
Single-Family Residential Districts are designed to be the most restrictive of the residential districts. The intent is to provide for an environment of predominantly one-family detached dwellings of varying densities al…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for R-MD in Grand Ledge, MI.
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