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754 Leonard St NW

West Grand, Grand Rapids, MI
Total Size
9,978 sqft
Year Constructed
Year Renovated
Building Class

About 754 Leonard St NW

PRICE REDUCED! Investment property with strong cash flow. Subject includes 3 parcels: 744 Leonard St. - 2 story commercial building (7,386SF), 750 Leonard St. - ~0.15 acre vacant commercial lot, and 1142 Alpine Ave. - duplex home (1,552SF) with 5 unit garage (1,040SF - units individually rented as storage). Fully occupied units with steady rental history. Great potential to develop vacant lot. 2 story commercial building includes two retail tenants (Warren Nutrition and Fast Cash - both have leased here for approximately 25 years) and three large, nice 2 bedroom apartment units. Prime retail corner location on two heavily trafficked streets, making this property easy to lease and keep leased. Other three corners of Leonard/Alpine occupied by 5/3 Bank, Walgreens, and Shell station. Strong future development value in this high profile corner site. 15.1% cash-on-cash return based on in-place income.

SHOWING INSTRUCTIONS: Call L.A. 616.242.1106

TERMS: Cash or new mortgage.

SPECIAL NOTES: Owner indicates that City of Grand Rapids may be willing to vacate alley between 750/754 Leonard St and 1142 Alpine Ave. - Area description: DIRECTIONS: US 31 to Leonard St exit, W to prop, SE corner of Leonard St & Alpine Ave - Number of buildings: 2 - Number of units: 7 - Building condition: Average - Tenancy: Multiple Tenants

Internet Providers for 754 Leonard St NW

Provider Technology Max Download Speed Max Upload Speed
Comcast Cable
1 Gb/s
25 Mb/s
JAS Networks DSL
25 Mb/s
6 Mb/s
AT&T Michigan DSL
25 Mb/s
3 Mb/s DSL
25 Mb/s
3 Mb/s
Cavalier Telephone DSL
10 Mb/s
1.5 Mb/s
MegaPath Corporation DSL
6 Mb/s
768 kbps

The Neighborhood: West Grand

The typical asking rate per listing is in the $20's per square foot per year. The West Grand region is experiencing a an increase in rates. In the last 3 months, the median rate rose $3 per sqft per year. That's a 20% rise in rent.

Compared to the rest of the Grand Rapids market, the West Grand submarket has more expensive rates, and you'll need to pay a premium to be in this hot region.

Median Rate Median Size
West Grand $21
Median Rate Median Size
Grand Rapids $18

Median Rate over Time in West Grand