Smitty's | 1489 Lake Dr SE
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Smitty's 1489 Lake Dr SE
5,654 SF Retail Building Grand Rapids, MI 49506 $3,000,000 ($531/SF)
Executive Summary
**1489 Lake Dr SE, Grand Rapids, Michigan** is a fully renovated commercial property located in the heart of the bustling Eastown district. This versatile building offers a prime location for a business, with a street-level convenience store featuring ample foot traffic and excellent visibility. The store has been updated within the last 10 years, ensuring modern amenities and a clean, professional environment for customers.
Above the commercial space is a beautifully renovated 2-bedroom, 2-bath condo, perfect for an owner-occupant or as a rental income opportunity. The condo boasts contemporary finishes, updated appliances, and an open-concept living space, blending comfort with modern style. With everything upgraded within the past decade, this property is move-in and business-ready, offering an ideal investment in one of Grand Rapids’ most vibrant and thriving areas.
Above the commercial space is a beautifully renovated 2-bedroom, 2-bath condo, perfect for an owner-occupant or as a rental income opportunity. The condo boasts contemporary finishes, updated appliances, and an open-concept living space, blending comfort with modern style. With everything upgraded within the past decade, this property is move-in and business-ready, offering an ideal investment in one of Grand Rapids’ most vibrant and thriving areas.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,654 SF
Building Class
C
Year Built
2011
Price
$3,000,000
Price Per SF
$531
Tenancy
Single
Building Height
2 Stories
Building FAR
0.85
Land Acres
0.15 AC
Zoning
TN-TBA
Parking
6 Spaces (1.06 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
Walk Score ®
Walker's Paradise (93)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 (2024) | |
| Land Assessment | $0 (2024) | Total Assessment | $517,200 (2024) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0 (2024)
Improvements Assessment
$0 (2024)
Total Assessment
$517,200 (2024)
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Thomas Dado -
Community Choice Realty
1 of 80
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Smitty's | 1489 Lake Dr SE
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