1007 Wealthy Street SE, Grand Rapids, MI 49506
New Listing $475,000
Property Type: Commercial Sale Square Footage: 3,600 Lot Size (sq. ft.): 4,000 Status: Active
Current Price: $475,000 List Date: 8/17/2026 Last Modified: 8/17/2026
Overview
Description
Listing Details MLS# 26043253
Location Property Info
- County
- Kent
- Street #
- 1007
- Street Name
- Wealthy
- Suffix
- Street
- Post Direction
- SE
- State
- MI
- Zip Code
- 49506
- Zip (4)
- 1516
General Property Info
- New Construction
- No
- Lot Measurement
- Acres
- Lot Acres
- 0.09
- Lot Square Footage
- 4000
- Lot Dimensions
- 40 X 100
- Year Built
- 1884
- Road Frontage
- 40
- Total # Units
- 2
- # Fin Bldg Lvls
- 3600
- Total # Bldgs
- Yes
- Total SqFt
- 3600
- Property Use Type
- Vacant/Owner-User
- Waterfront
- No
- School District
- Grand Rapids
Tax Info
- Tax ID #
- 41-14-29-379-021
- Taxable Value
- 164378
- SEV
- 230000
- For Tax Year
- 2026
- Seller's Annual Property Tax
- 6415
- Tax Year
- 2026
- Spec Assessment & Type
- none
- Zoning
- TBA TN
- Homestead %
- 0
Location & Property Info
- Cross Streets
- Diamond Ave
- Property Sub-Type
- Retail
- Municipality
- City of Grand Rapids
Office/Contract Info
- Auction or For Sale
- For Sale
- List Price/SqFt
- 131.94
- Prop Avail for Lease?
- No
- Current Bldg Use
- Vacant
More Information
Remarks & Misc
- Public Remarks
- Exceptional redevelopment opportunity on the vibrant Wealthy Street corridor, between Electric Cheetah and The Meanwhile Bar. This historic mixed-use building is construction-ready with Historic Preservation Commission approval, completed permit drawings and established construction pricing. Approved plans include four one-bedroom apartments with in-unit laundry and approximately 1,800 SF of main-floor white-box commercial space with two restrooms. Suitable for retail, hospitality, restaurant or office use. The property includes parking for three vehicles and a rear yard with patio potential. Incentives include a 10-year OPRA tax abatement, $25,000 Uptown façade grant, $226,983 Revitalization and Placemaking grant, and potential 20% federal and 5% Michigan historic tax credits. Projected ROI is 8.4%. Land-contract terms are available. All information, projections, plans and incentives are estimates and subject to buyer verification, program requirements and agency approval.
- Legal
- LOT 1683* STEINMANN S ASSESSOR S PLAT NO 58
Utilities Attached
- None
- Yes
Sewer
- Public Sewer
- Yes
Water
- Public Water
- Yes
Uses
- Bar/Tavern/Lounge
- Yes
- Professional Service
- Yes
- Professional/Office
- Yes
- Restaurant
- Yes
- Retail
- Yes
Construction Type
- Pole/Wood
- Yes
Exterior Material
- Wood Siding
- Yes
Roofing
- Rubber
- Yes
Heat Source
- None
- Yes
Sale Conditions
- None
- Yes
Below Grade
- Basement
- Yes
Heat Type
- None
- Yes
Business Includes
- Real Estate
- Yes
Util Avail at St
- Cable Available
- Yes
- Electricity Available
- Yes
- High Speed Internet
- Yes
- Natural Gas Available
- Yes
- Phone Available
- Yes
Driveway
- Gravel
- Yes
Purchase Terms Avail
- Cash
- Yes
- Land Contract
- Yes
- Other
- Yes
Possession
- Close Of Escrow
- Yes
Property Features
Uses: Bar/Tavern/Lounge; Professional Service; Professional/Office; Restaurant; Retail Business Includes: Real Estate Construction Type: Pole/Wood Exterior Material: Wood Siding Roofing: Rubber Below Grade: Basement Sewer: Public Sewer Water: Public Water Utilities Attached: None Util Avail at St: Cable Available; Electricity Available; High Speed Internet; Natural Gas Available; Phone Available Heat Source: None Heat Type: None Driveway: Gravel Purchase Terms Avail: Cash; Land Contract; Other Sale Conditions: None Possession: Close Of Escrow
Documents
Listing Office: Urban Soil Realty
Listing Agent: Bradley S Veneklase
Last Updated: August - 17 - 2026
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of MICHRIC , and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
