830 Water Tower RdBig Rapids, MI 49307

Property Details for 830 Water Tower Rd

Lot size

6.15 AC

Property type

Commercial real estate

APN

17-15-300-029

APU

1715300029

Description

Eight Thirty Water Tower, a premier student housing apartment building in Big Rapids, Michigan, is available for acquisition at $20,250,000. This exceptional property, built in 2019, boasts 120 units and a total of 130,000 square feet, offering 318 fully furnished beds. Situated on a 6.15-acre lot, its prime location offers unparalleled convenience, being within walking distance of Ferris State University. The property's strategic location also provides easy access to the university's football stadium, various restaurants, a golf course, and major highways. Currently enjoying a 93% occupancy rate for the 2024/2025 academic year, Eight Thirty Water Tower represents a stable, cash-flowing investment opportunity. The land value is substantial, with a price per square foot of $267,894. This modern building offers numerous amenities, making it a highly desirable residence for students. The property's strong performance and prime location make it an attractive investment for those seeking a high-return, low-risk opportunity in the student housing market. The address is 830 Water Tower Rd, Big Rapids, MI 49307, located in Mecosta County.

• Alternative Use

  Use

  Valuation

  Residential

  $56,023,000

  Hospitality

  $51,316,768

  Educational

  $42,694,948

  Medical

  $44,163,292

  Retail

  $66,414,364

Location Insight

City

Big Rapids

County

Mecosta

State

Michigan

Latitude

43.6887

Longitude

-85.4977

CBSA code

13660

CBSA name

BIG RAPIDS, MI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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