Grand Rapids Portfolio of properties for Sale - Central Grand Rapids
This is all about location, location, location on the West side that is a great area of the new social zone and a booming area for local fun and dining.
Lease this for 5 or 10 years and get into the hot market the new Chicago on the Westside of Grand Rapids, start your West Side opportunity today.
Zoned for Transitional City Center with options by right banquet center, lounge, gym, restaurant bar or multi use location that can be built out on a NNN lease. We then have options to line up with options to convert to a 4 story up to a 10 story development with the potential to be a 20 story development.
Full propety square footage is just over 24,500 square foot and at max height 20 stories is 490,000 square feet and is just over $116 price per square foot for land and each level based on 20 story is $5.8 per square foot plus construction cost pending market rates typically $200 -$250. Note as you delete floors the price per square foot per floor will go up by 5.80per sqare foot per floor roughly $142,100 per floor.
We have a few interests for hotel buyers with a great location downtown owner willing to leverage out one parcel to complete project and take payout upon bank financing of project. Financing /owner possibility is for partnership on project and complete or stay take part of the buildout as exchange towards purchase.
Owner is realtor and you can call me to discuss your plans or options you have in mind. Parking space in not required per city however a layout with parking is a great plan and could be a great income maker for the project.
Land Contract lease options with downstroke.
Current progress and status of development, meetings with city preliminary approval and Architectual and structural engineers
Phase #1 building and retail possible approval of self pour brewery 5 year + lease terms and change with roof access use.
Phase #2 build apartments above 4-6 units 650-#1300 square feet and banquet or garden center on roof.
Phase #3 build boutique or larger hotel on lot next door
Can be purchased separately at $1,490,000 -$1790,000 pending time of transaction in development process.
the subject properties are located within the City Center Zoning District and subject to the development regulations of Article 6 and Article 8 of the Zoning Ordinance. I would suggest it’s a fairly flexible district that allows uses you would expect in a downtown, building heights up to 20 stories and no required parking or maximum density. The city did recently amend the downtown height overlay (Article 8). The amendment eliminated the height bonus structure and permits up to 20 story buildings by-right.
