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754 Leonard St NW

West Grand, Grand Rapids, MI
Floors
2
Total Size
9,978 sqft
Zoning
TN-TBA, TN-LDR
Year Constructed
0
Year Renovated
0
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
ACD.net 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 going through a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 5% decline in rent.

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

Median Rate Median Size
West Grand $25
/sqft/yr
30,640
sqft
Median Rate Median Size
Grand Rapids $24
/sqft/yr
1,900
sqft

Median Rate over Time in West Grand