1007 Wealthy Street SE, Grand Rapids, MI 49506

Property Description

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.