1430 Lake SE Drive, Grand Rapids, MI 49506
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1430 Lake SE Drive, Grand Rapids, MI 49506
1430 Lake SE Drive, Grand Rapids, MI 49506
1430 Lake SE Drive, Grand Rapids, MI 49506
1430 Lake SE Drive, Grand Rapids, MI 49506
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Good Company Realty

Good Company Realty

+1(248) 733-5811
$ 1,500,000
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1430 Lake SE Drive Grand Rapids, MI 49506

1 Bath

2,955 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

Square Footage 2,955 sqft

Price per Sqft $507

Municipality City of Grand Rapids

MLS Listing ID 26059701

Full Baths 1

Year Built 1990

Annual Tax Amount $8,779

Tax Year 2026

Lot Size 0.331 Acres

Acres 0.33

Lot Dimensions 125x107x100x184

Property Sub-Type Retail

Source Michigan Regional Information Center (MichRIC)

Property Description

Rare investment opportunity in the heart of Eastown. 1430 Lake Drive is a 2,955 SF brick retail building on 0.33 acres with 14 on-site parking spaces. The former bank building has four sources of income: two retail suites, a drive-up ATM leased to LMCU through 2038 with built-in rent increases, and a billboard leased through 2035. Both suites rent below market rates and renew every year. Long term tenants are motivated to stay and expect higher rents. Or an owner can move in at end of current suite leases while the ATM and billboard leases help cover costs. The roof was replaced in 2017 and carries a 15-year warranty. The main HVAC was also replaced in 2017, and the rear suite has its own rooftop unit. TN-TBA zoning allows retail, salon/spa, studio, gallery, café and live-work uses. Do not disturb tenants. Showings by appointment only with 24-hour notice.

Location

State MI

County Kent

Direction Corner of Lake Dr & Atlas Ave, S of Robinson Rd.

Interior

Interior Features Broadband

Heating Forced Air

Cooling Central Air

Inclusions Non-Applicable

Exterior

Utilities Available Phone Available, Natural Gas Available, Electricity Available, Cable Available, Phone Connected, Natural Gas Connected, Electricity Connected, Cable Connected

View Y/N No

Street Surface Paved

Total Parking Spaces 14

Building

Structure Type Brick

New Construction No

Schools

School District Grand Rapids

Others

Tax ID 41-14-29-481-012

Acceptable Financing Conventional, Contract, Cash

Listing Terms Conventional, Contract, Cash

Listed by RE/MAX of Grand Rapids (FH)

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