$1,500,000
Grand Rapids, MI 49506
MLS# 26059701
1 baths | 2955 sqft
1 / 56
Property Description
Rare investment opportunity in the heart of Eastown. 1430 Lake Drive is a 2,955 SF brick retail building on 0.33 acres with 14 on-site parking spaces. The former bank building has four sources of income: two retail suites, a drive-up ATM leased to LMCU through 2038 with built-in rent increases, and a billboard leased through 2035. Both suites rent below market rates and renew every year. Long term tenants are motivated to stay and expect higher rents. Or an owner can move in at end of current suite leases while the ATM and billboard leases help cover costs. The roof was replaced in 2017 and carries a 15-year warranty. The main HVAC was also replaced in 2017, and the rear suite has its own rooftop unit. TN-TBA zoning allows retail, salon/spa, studio, gallery, café and live-work uses. Do not disturb tenants. Showings by appointment only with 24-hour notice.
Details
Documents
Location & Property Info
Cross Streets: Wealthy St. & Robinson Rd.
Property Sub-Type: Retail
Municipality: City of Grand Rapids
Ownership Type: Private Owned
Office/Contract Info
Auction or For Sale: For Sale
List Price/SqFt: 507.61
Prop Avail for Lease?: No
Current Bldg Use: Retail/Salon
General Property Info
New Construction: No
Lot Dimensions: 125x107x100x184
Road Frontage: 125
Waterfront: No
Total # Units: 2
Total # Bldgs: 1
# Fin Bldg Lvls: 1
Total SqFt: 2955
Total Net SqFt: 2955
Property Use Type: Business
School District: Grand Rapids
Lot Measurement: Acres
Lot Acres: 0.33
Lot Square Footage: 14418
Year Built: 1990
Full Baths: 1
Total Baths: 1
Tax Info
Taxable Value: 155640
SEV: 615500
For Tax Year: 2026
Seller's Annual Property Tax: 8779.13
Tax Year: 2026
Homestead %: 0
Spec Assessment & Type: None
Zoning: TN-TBA
Tax ID #: 41-14-29-481-012
Remarks & Misc
Public Remarks: Rare investment opportunity in the heart of Eastown. 1430 Lake Drive is a 2,955 SF brick retail building on 0.33 acres with 14 on-site parking spaces. The former bank building has four sources of income: two retail suites, a drive-up ATM leased to LMCU through 2038 with built-in rent increases, and a billboard leased through 2035. Both suites rent below market rates and renew every year. Long term tenants are motivated to stay and expect higher rents. Or an owner can move in at end of current suite leases while the ATM and billboard leases help cover costs. The roof was replaced in 2017 and carries a 15-year warranty. The main HVAC was also replaced in 2017, and the rear suite has its own rooftop unit. TN-TBA zoning allows retail, salon/spa, studio, gallery, café and live-work uses. Do not disturb tenants. Showings by appointment only with 24-hour notice.
Legal: LOTS 15, 16 & 17* J A GIDDINGS ADDITION
Waterfront Options
Water Access Y/N: No
Additional Details
Total Parking Spaces: 14
Street Type
Paved: 1
Public: 1
SqFt Information
Building Security: 1
Closed Circuit Camera(s): 1
Property Use
Business: 1
Investment: 1
Utilities Attached
Cable Connected: 1
Electricity Connected: 1
Natural Gas Connected: 1
Phone Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Uses
Professional Service: 1
Retail: 1
Construction Type
Other: 1
Exterior Material
Brick: 1
Heat Source
Natural Gas: 1
Sale Conditions
None: 1
Heat Type
Forced Air: 1
Air Conditioning
Central Air: 1
Business Includes
Non-Applicable: 1
Util Avail at St
Cable Available: 1
Electricity Available: 1
High Speed Internet: 1
Natural Gas Available: 1
Phone Available: 1
Driveway
Asphalt: 1
Purchase Terms Avail
Cash: 1
Conventional: 1
Land Contract: 1
Unit 1
Unit Description: Front Suite
SqFt: 2235
Occupied: Yes
Rent $/Month: 3939
$ Per SqFt: 1.76
# HVAC: 1
$ Per SqFt/Year: 21.15
# Baths: 1
Unit 2
Unit Description: Rear Suite
SqFt: 720
Occupied: Yes
Rent $/Month: 1108
$ Per SqFt: 1.54
# HVAC: 1
$ Per SqFt/Year: 18.46
# Baths: 0
Possession
Close Of Escrow: 1
Subject To Tenant Rights: 1
Location Property Info
County: Kent
Street #: 1430
Street Name: Lake
Suffix: Drive
Post Direction: SE
State: MI
Zip Code: 49506
Zip (4): 1710
OfficeContract Info
Status: Active
Current Price: $1,500,000
List Price: $1,500,000
Listing Date: 2026-11-11
Remarks Misc
Directions: Corner of Lake Dr & Atlas Ave, S of Robinson Rd.
Property Features
Property Use: Business; Investment
SqFt Information: Building Security; Closed Circuit Camera(s)
Uses: Professional Service; Retail
Business Includes: Non-Applicable
Construction Type: Other
Exterior Material: Brick
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected
Util Avail at St: Cable Available; Electricity Available; High Speed Internet; Natural Gas Available; Phone Available
Heat Source: Natural Gas
Heat Type: Forced Air
Air Conditioning: Central Air
Driveway: Asphalt
Street Type: Paved; Public
Purchase Terms Avail: Cash; Conventional; Land Contract
Sale Conditions: None
Possession: Close Of Escrow; Subject To Tenant Rights
Offering Packet 
Listing Office: RE/MAX of Grand Rapids (FH)
Listing Agent: Cheryl A Grant
Last Updated: November - 13 - 2026
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