59 Commerce AveGrand Rapids, MI 49503

Property Details for 59 Commerce Ave

Year built

1920

Lot size

0.11 AC

Property size (Sq ft)

4,267 SF

Zone code

TN-CC

Property type

Commercial real estate

APN

41-13-25-435-010

APU

411325435010

Description

This 4,545 square foot vacant commercial property, located at 59 Commerce Ave SW in Grand Rapids, Michigan, presents a unique investment opportunity. The building, constructed in 1920, is classified as Class C and sits on a 0.115-acre lot. Zoned 201 Commercial - Improved, it offers endless possibilities for a new or expanding business. The property boasts high ceilings and a receiving area with an overhead door. Recent demolition work provides a blank slate for renovation, minimizing upfront costs. A 2023 phase 1 environmental site assessment and survey are available, streamlining the due diligence process and reducing closing costs. This prime location in the Heartside District places the property within close proximity to thriving businesses such as Stella's, Hotel Mertens, and The Pyramid Scheme. Two major parking ramps and market-rate apartments are within a block, while Peppino's, Luna, a new indoor golf facility, and Studio Park are within two blocks. A new multi-story development is planned for the adjacent lot, further enhancing the area's appeal. The asking price for this exceptional property is $1,069,000. The lease term is zero years, making it ideal for owner-occupancy or immediate lease-up. Don't miss the chance to establish your business in this vibrant and rapidly developing downtown area. Begin 2025 in this exceptional location.

• Alternative Use

  Use

  Valuation

  Residential

  $892,041

  Hospitality

  $817,105

  Educational

  $679,822

  Medical

  $703,202

  Retail

  $1,057,501

Location Insight

City

Grand Rapids

County

Kent

State

Michigan

Latitude

42.9615

Longitude

-85.6695

CBSA code

24340

CBSA name

GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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