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741 Leonard St NW 5,813 SF Retail Building Grand Rapids, MI 49504 $2,750,000 ($473.08/SF)
INVESTMENT HIGHLIGHTS
- Growing West Side location
- Opportunity to increase revenue with additional hours.
EXECUTIVE SUMMARY
HERE IS YOUR CHANCE TO OWN A ICONIC BAR ON THE HIGHLY DESIRABLE WEST SIDE OF GRAND RAPIDS. LOTS OF ROOM TO GROW UPSTAIRS. CURRENTLY USED AS A BAR RESTAURANT. GREAT LOCATION WITH OFF-STREET PARKING. LIQUOR LICENSE INCLUDED IN SALE. LAND CONTRACT AVAILABLE. EXTRA REVENUE ABOVE FOR 2 APARTMENTS. IRON WELL HAS BEEN COMPLETELY UPDATED INSIDE WITH MANY DIFFERENT REVENUE STREAMS. LARGE STAGE THAT HAS HOSTED BANDS SUCH AS FOREIGNER IN THE PAST. THIS BAR HAS A LARGE STAGE AND DANCE AREA, ALONG WITH 2POOL TABLES. BAR, BEER TAPS, AND COOLERS HAVE ALL BEEN REPLACED.
TAXES & OPERATING EXPENSES (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Taxes |
$11,932
|
$2.05
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$11,932
|
$2.05
|
TAXES & OPERATING EXPENSES (ACTUAL - 2025)
| Taxes | |
|---|---|
| Annual | $11,932 |
| Annual Per SF | $2.05 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $11,932 |
| Annual Per SF | $2.05 |
PROPERTY FACTS
Sale Type
Owner User
Sale Condition
Business Value Included
Property Type
Retail
Property Subtype
Building Size
5,813 SF
Building Class
C
Year Built/Renovated
1910/2020
Price
$2,750,000
Price Per SF
$473.08
Business Value
$750,000
Tenancy
Single
Building Height
2 Stories
Building FAR
0.79
Lot Size
0.17 AC
Zoning
TN-TBA - Traditional Neighborhood - Traditional Business Area.
Parking
10 Spaces (2.2 Spaces per 1,000 SF Leased)
Frontage
39’ on Leonard St NW
AMENITIES
- Bus Line
- Signage
Walk Score®
Very Walkable (88)
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 41-13-13-356-030 | Total Assessment | $298,200 |
| Land Assessment | $0 | Annual Taxes | $11,932 ($2.05/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
41-13-13-356-030
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$298,200
Annual Taxes
$11,932 ($2.05/SF)
Tax Year
2025
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741 Leonard St NW
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