Photos and Property Details for 1430 Lake Drive SE, Grand Rapids, MI 49506 (MLS# 26059701).
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$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
Maps
Documents
General Property Info
New Construction: No
Lot Measurement: Acres
Lot Acres: 0.33
Lot Square Footage: 14418
Lot Dimensions: 125x107x100x184
Year Built: 1990
Road Frontage: 125
Total # Units: 2
# Fin Bldg Lvls: 1
Total # Bldgs: 1
Total SqFt: 2955
Total Net SqFt: 2955
Property Use Type: Business
Full Baths: 1
Total Baths: 1
Waterfront: No
School District: Grand Rapids
Tax Info
Tax ID #: 41-14-29-481-012
Taxable Value: 155640
SEV: 615500
For Tax Year: 2026
Seller's Annual Property Tax: 8779.13
Tax Year: 2026
Spec Assessment & Type: None
Zoning: TN-TBA
Waterfront Options
Water Access Y/N: No
Additional Details
Total Parking Spaces: 14
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
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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