551 Michigan Street NE, Grand Rapids, MI 49503
sale
$900,000
|
Retail
Courtesy Of Creekstone Realty
2906 Vanover St SE, Kentwood, MI
INVEST ON THE MEDICAL MILE. Position your business, investment portfolio, or future development vision along one of the most heavily invested corridors in West Michigan. 551 Michigan Street NE offers a rare opportunity to control commercial real estate directly along Grand Rapids' Michigan Street / Medical Mile corridor-an area shaped by billions of dollars of investment in healthcare, research, education, housing, and supporting commercial development. The property features approximately 2,070 square feet of existing commercial space across two parcels with valuable on-site parking and prominent Michigan Street exposure. And the story extends well beyond the building. The surrounding Grand Rapids market now exceeds 200,000 residents, while the broader Kent County economy supports more than 384,000 jobs across nearly 17,800 employer establishments. Within the immediate Michigan Street trade area, approximately 20,000 people are located within one mile, roughly 140,000 within three miles, and more than 250,000 within five miles. Visibility is equally compelling. Nearby Michigan Street traffic counts exceed 15,000 vehicles per day, while immediate access to I-196 connects the property with Downtown Grand Rapids and the greater West Michigan region. The Medical Mile itself represents one of Grand Rapids' defining economic-development stories. Nearby institutions include Corewell Health Butterworth Hospital, Helen DeVos Children's Hospital, Van Andel Institute, Michigan State University College of Human Medicine, Grand Valley State University's health campus, and an expanding network of healthcare, research, educational, professional, residential and supporting commercial uses. Grand Rapids continues to identify healthcare and life sciences as important components of its future economic growth, creating a compelling environment for long-term ownership along Michigan Street. Use it today. Reposition it tomorrow. Hold it for what Grand Rapids becomes next. The existing property may accommodate a variety of commercial, professional, medical, office or investment strategies, while the site's location and configuration create additional potential for buyers interested in exploring redevelopment, mixed-use or vertical-development concepts, subject to zoning, governmental approvals, engineering and buyer due diligence. For an owner-user, this is visibility and accessibility. For an investor, it is a strategic holding within one of Grand Rapids' strongest employment and institutional corridors. For a developer, it is an opportunity to evaluate what comes next. 551 Michigan Street NE - invest in the property, the Medical Mile and the continued growth of Grand Rapids. Offered at $900,000.
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Property Features
- Age: Over 50 Years Old
- Building Units: 2
- Cooling System: Central Air
- Exterior Type: Brick
- Exterior Type: Vinyl Siding
- Heating System: Forced Air
- Legal Description: PART OF LOT 1 BLK 1 COM AT SW COR OF SD LOT TH N ALONG W LINE OF SD LOT 36.16 FT TH E LY TO A PT ON E LINE OF SD LOT WH
- MLSID: 26053456
- Parking Spaces: 15
- Roof Type: Composition
- Roof Type: Rubber
- Rooms: Basement
- Rooms: Bathroom 1
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