Michigan / Grand Rapids / 49503 / Commercial Land

1503 Michigan Street Northeast

Grand Rapids, MI 49503

Listing ID: 231827

$1,965,000

For Sale

Property Type Land for Sale : Mixed Use Land
Lot Size Acres 2.690
Land Sq Ft 117,176
Land Price per Sq Ft $16.77

Description

Investment Opportunity - fully improved parking lot leased to Spectrum Health. Used for employee parking and serviced by Spectrum's own shuttle.
8% cap rate. Zoning allows many uses. Call LA for lease details.

Listing Demographics for 1503 Michigan Street Northeast Grand Rapids, MI 49503

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

		1-Mile	3-Miles	5-Miles
Total Population		14,137	120,701	254,097
Population Median Age		35	35	36
Population by Age	0-9 Yrs	1202 (8%)	14881 (12%)	33524 (13%)
	10-19 Yrs	1468 (10%)	14801 (12%)	33474 (13%)
	20-29 Yrs	3997 (28%)	26607 (22%)	49640 (19%)
	30-39 Yrs	2518 (17%)	18772 (15%)	37526 (14%)
	40-49 Yrs	1339 (9%)	13304 (11%)	27791 (10%)
	50-59 Yrs	1585 (11%)	13389 (11%)	28610 (11%)
	60-69 Yrs	1095 (7%)	9950 (8%)	22556 (8%)
	70+ Yrs	934 (6%)	8999 (7%)	20974 (8%)

Median HH Income		$55,497	$54,315	$54,951
Total Household Income	< 24K	1136 (21%)	11254 (23%)	21083 (22%)
	25-49K	1327 (24%)	11029 (23%)	22975 (24%)
	50-74K	939 (17%)	8539 (17%)	17698 (18%)
	75-99K	733 (13%)	5524 (11%)	11998 (12%)
	100-199K	971 (18%)	8236 (17%)	16501 (17%)
	200K+	248 (4%)	3047 (6%)	5188 (5%)

Highest Education Level	No Diploma	851	7511	19642
	Diploma or GED	1813	15048	35169
	Some College	1808	14840	32543
	Assoc. Degree	771	5891	12505
	Bachelors Degree	3010	22709	41138
	Higher Degree	1462	12601	22628

Total Housing Units		5,690	51,791	102,587
--Owner-Occupied		3,051	26,491	57,260
--Renter-Occupied		2,303	21,138	38,183
Owner-Occupied Values	< 100K	525	5054	12095
	100-199K	1800	11702	26713
	200-299K	459	4522	9190
	300-399K	119	2235	4329
	400-499K	53	1103	2095
	500K+	94	1874	2838

Total Working Age Population		12,182	96,916	201,016
In Work Force		8,441	68,550	138,728
Not In Work Force		3,741	28,366	62,288
Workforce Employed		7,983	64,390	131,031
Workforce Unemployed		457	4,142	7,615
Civlian Workforce		8,441	68,533	138,646
Military Workforce		0	17	82

Total Households		5,354	47,630	95,443
Family Households		2,443	25,535	56,057
Non-Family Households		2,911	22,095	39,385
Married Couple		1,706	17,255	38,595
Other Family		737	8,279	17,462
Married w/Child		589	7,028	16,194
Single Male w/Child		113	1,289	2,756
Single Female w/Child		316	3,596	7,260

Population Change Last Two Decades - Plus Projection

	2000	%	2010	%	2020	%	2030
Michigan	9,938,444	-1	9,883,640	+1	10,023,423	+4	10,424,510
Kent County	574,335	+5	602,622	+11	668,535	+12	746,921

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While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Listing Location & Map Views

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