$1,500,000

1430 Lake Drive SE, Grand Rapids MI, 49506

Price per sqft$507.61

Built in1990

Property size2,955 sqft

Property typeCommercial

Courtesy of Cheryl A Grant, RE/MAX of Grand Rapids (FH)

Overview

Active

Listed Nov 11, 2026

Updated 9h ago

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.

Additional information

MLS^® ID: 26059701

Interior Features

Bathrooms: 1
Cooling: Yes
Heating: Yes
Basement: No

Exterior Features

Lot Size: 0.33 Acres

Other Property Details

Taxes: $8,779
Tax Frequency: Annually

Courtesy of RE/MAX of Grand Rapids (FH)

The IDX display contains information sourced from the MichRIC® as of 11/12/2026. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

Data last updated 11/12/2026