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DEVELOPMENT OPPORTUNITY 2 Properties Offered at $4,500,000 in Grand Rapids, MI
Investment Highlights
- Multi-parcel position in the fast-growing Stadium District of Grand Rapids.
- Flexible transaction structures: sale, long-term ground lease, or JV development.
- Located near the future soccer stadium, amphitheater, and riverfront developments.
- Feasibility and market studies validate demand for hospitality with 145–160 rooms.
- Includes 60 on-site parking spaces supporting guest and tenant needs.
- Mixed-use potential for hospitality, retail, residential, entertainment, and office.
Executive Summary
Positioned in Grand Rapids’ rapidly emerging Stadium District, this multi-parcel site presents a rare redevelopment opportunity with optionality for sale, ground lease, or joint venture. Located in the north downtown corridor adjacent to the upcoming professional soccer stadium, new amphitheater, riverfront projects, and entertainment venues, this property is ideal for high-impact urban development. The site has undergone feasibility studies confirming strong hospitality market potential, showcasing concepts for 145–160 hotel rooms and mixed-use configurations. Ownership invites experienced hotel operators, developers, and institutional investors to leverage public/private partnership incentives and sophisticated financial models designed to optimize capital structures and target attractive returns. This offering includes documented market analyses, branding evaluations, and developmental frameworks for premium hospitality and mixed-use lifestyle assets, setting the stage for a transformative centerpiece within Grand Rapids’ thriving urban fabric.
Taxes & Operating Expenses (Actual - 2023) |
Annual |
|---|---|
| Gross Rental Income |
$148,000
|
| Other Income |
$1,000
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$149,000
|
| Taxes |
$10,670
|
| Operating Expenses |
$6,000
|
| Total Expenses |
$16,670
|
| Net Operating Income |
$132,330
|
Taxes & Operating Expenses (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $148,000 |
| Other Income | |
|---|---|
| Annual | $1,000 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $149,000 |
| Taxes | |
|---|---|
| Annual | $10,670 |
| Operating Expenses | |
|---|---|
| Annual | $6,000 |
| Total Expenses | |
|---|---|
| Annual | $16,670 |
| Net Operating Income | |
|---|---|
| Annual | $132,330 |
Property Facts
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 425 Turner Ave NW, Grand Rapids, MI 49504 | Industrial | 1,730 SF | 1950 | - |
| 407 Turner Ave NW, Grand Rapids, MI 49504 | Retail | 10,960 SF | 1950 | - |
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