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Courtesy of Cheryl A Grant, RE/MAX of Grand Rapids (FH)

For Sale

1430 Lake Drive SE

1430 Lake Drive SE, Grand Rapids, MI 49506

$1,500,000

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, cafe and live-work uses. Do not disturb tenants. Showings by appointment only with 24-hour notice.

1
bath

2,955 Sq.Ft. LIVING AREA

0.33 Acres lot

Cheryl Grant

title Team Leader
PHONE (616) 822-3206
EMAIL [email protected]

Features & Amenities

Interior

Total bathroom1
full bathroom1
other interior Features Broadband

Area & Lot

Status For Sale
Living Area2,955 Sq.Ft.
Total Area2,955 Sq.Ft.
Lot Area0.33 Acres
MLS® ID26059701
TypeCommercial
YEAR BUILT1990
NeighborhoodGrand Rapids
School DistrictGrand Rapids

Exterior

STORIES1
utilitiesPhone Available, Natural Gas Available, Electricity Available, Cable Available, Phone Connected, Natural Gas Connected, Electricity Connected, Cable Connected
HEAT TYPEForced Air
AIR CONDITIONINGCentral Air

Financial

Sales Price$1,500,000
Real Estate Tax $8,779/yr

Grand Rapids

Grand Rapids is Michigan's second-largest city.

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Work With Cheryl

Cheryl refined her management and leadership skills while leading a 40-person News Team at the ABC-TV station in Grand Rapids. Integrity was the key to her success at the television station and perfectly transferred into Real Estate and helped make her one of the top Realtors in West Michigan.

Let's Connect

Contact Details

The Cheryl Grant Real Estate Team

Phone

(616) 822-3206

[email protected]

Open hours

MON - FRI, 8 AM - 7 PM SAT - SUN, 10 AM - 5 PM

Address

4362 Cascade Rd. SE, Grand Rapids, MI 49546

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