Highly Visible Investment or Owner User Parcel)

Vacant Land for Lease
Also listed as Multi-Family, Retail-Commercial
Catylist Listing ID: 30745590
Property Subtypes: Hospitality, Multi-Family, Office, Retail, Retail-Pad, Other
Gross Land Area: 1.01 Acres
Lease Rate: $1.99 PSF (Annual)
Base Monthly Rent: $7,295
Lease Types: Ground Lease, NNN
Last Updated: 9/25/2021

Overview / Comments

A rare development site along a major regional corridor in the burgeoning Grand Rapids/Walker area, this parcel serves as an ideal location for a retail/commercial or mixed use multi-family investment opportunity. A creative purchaser could built a floor level office (by right) with signage facing Lake Michigan Drive with residential units on the upper level.

A new Master Plan adopted in October of 2020 makes this property eligible for mixed use (MPUD) or RPUD zoning for the first time as well! Soon to be located only minutes from a new AMAZON distribution center, Seller has run a density calculation with a conceptual site plan and this site has potential to host a multi-family development with as many as 48 residential living units, a generously sized retail space on the first floor, a covered garage facility, and green space, located on busy Lake Michigan Drive (estimated 30,000+ traffic count).

This site is pedestrian and transit friendly with the Fred Meijer Trail abutting the property to the West and a Laker Line Bus stop immediately to the South. Immediately to the North is additional green space (a city owned park) to be enjoyed by the future users of this property.

The seller has a recent survey, environmental report, a site plan, and other documentation to make this an ideal turn key investment opportunity. This type of property is trending in the real estate market due to an increased demand for mixed use properties and desire for uniquely integrated housing, combining residential-use components with commercial uses.

Please contact the agent for further information.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Tax ID/APN: 41-13-20-376-030
Zoning: SEE AGENT
Property Located Between: Grand Rapids and Walker, MI
Property Visibility: Excellent
Legal Description: 411320376030 LOTS 182 & 183 EX W 16 FT ALSO LOT 184 ALSO E 43 FT OF LOT 185 ALSO THAT PART OF VACATED PORTION OF WESTWAY DR LYING SLY OF A LINE EXT FROM NW COR OF LOT 26 OF LINCOLN LAWNS TO NE COR OF LOT 182 OF SD PLAT & LYING N OF N LINE OF LAKE MICHIGAN DR /100 FT WIDE/ * SPLIT ON 02/02/2011 FROM 41-13-20-376-029, 41-13-20-376-023, 41-13-20-376-024, 41-13-20-380-015
Largest Nearby Street: Lake Michigan Drive NW
Feet of Frontage: 173
Traffic/Vehicle Count: 30,000
Highway Access: 196 & US 131
Airports: Gerald R. Ford International Airport
Site Description: This is a level site ready for development. The Fred Meijer Standale Trail abuts the parcel to the West. To the East of the parcel is a motel/multi-family building which appears to house dozens of residents. Immediately to the North is a City owned park that separates this parcel from additional residential uses. Commercial/retail and other multi-family developments line the rest of Lake Michigan Drive. Amenities within walking and biking distance include restaurants, shopping, entertainment, trails, parks, the Grand River, and booming downtown Grand Rapids to the East, and quaint downtown Standale to the West. It is also worthy to note that there is a public sidewalk and Laker Line bus stop abutting the parcel to the South, allowing residents the benefit of bike and bus transportation directly to the site. Downtown Grand Rapids is approximately a 6 minute drive and the Fred Meijer Standale trail provides for a quick bike ride to Riverside Park and other outdoor amenities.
Area Description: Street frontage on a Major regional corridor running from downtown Grand Rapids to Grand Haven (Lake Michigan).
Lot Frontage: 173
Lot Depth: 250
Zoning Description: See Agent
Topography: Level
Easements Description: Seller had an access easement released from the parcel earlier this year. To owner's knowledge, no other easements or encroachments on the property.
Soil Type: Mixed
Available Utilities: Electric, Water, Gas, Sewer, Storm Drain, Cable, Broadband, Internet Access
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,235 43,276 155,486
Median Age: 34.1 39.27 33.29
Households: 4,116 17,502 58,822
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