1664 Grand Riv AveMeridian charter Township, MI 48864

Property Details for 1664 Grand Riv Ave

Year built

1998

Lot size

1.86 AC

Property size (Sq ft)

11,068 SF

Zone code

C-3

Property type

Retail space

APN

33-02-02-22-401-009

APU

33020222401009

Description

This exceptional 11,180-square-foot freestanding retail building presents a unique investment or owner-user opportunity. Located at 1664 W Grand River Ave in Meridian Charter Township, Michigan (48864), this vacant property boasts a desirable C3 zoning and sits on a spacious 1.86-acre lot (81,022 square feet). Built in 1998, the building features a convenient drive-through window, ideal for various retail uses. Its strategic location on a signalized hard corner offers exceptional visibility and accessibility. The property benefits from a strong demographic profile, with over 85,000 people residing within a 5-mile radius and an average household income exceeding $105,000 within just 1 mile. Furthermore, the area boasts over 2.6 million square feet of retail space within a 1-mile radius, indicating a thriving commercial environment. The presence of major employers like Michigan State University, Sparrow Hospital, and General Motors' Lansing Grand River Plant ensures a stable and robust local economy. This property is offered fee simple and presents a compelling opportunity for businesses seeking a high-visibility location in a densely populated and affluent area. The parcel number is 22-401-009. This is a former Rite Aid pharmacy.

• CAP approach

  CAP return

  Valuation

  6%

  $2,785,221

  6.5%

  $2,570,973

  7%

  $2,387,332

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,608,958

  Geo Method

  $2,608,958

• Alternative Use

  Use

  Valuation

  Residential

  $2,168,712

  Hospitality

  $1,986,529

  Educational

  $1,652,768

  Medical

  $1,709,610

  Retail

  $2,570,973

Location Insight

City

Okemos

County

Ingham

State

Michigan

Latitude

42.7184

Longitude

-84.4102

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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