105-acre redevelopment opportunity

FOR SALE

MIXED-USE REDEVELOPMENT OPPORTUNITYExcellent redevelopment opportunity of a prime piece of land in a well-established neighborhood. This property is located five minutes northwest of downtown Grand Rapids in Walker.

www.cbregr.us/grandrapids

105-ACRE REDEVELOPMENT OPPORTUNITY3483 – 3485 Lake Michigan Dr NWGrand Rapids, MI 49534

FOR SALELAKE MICHIGAN DR NW

Grand Rapids, MI 49534105-ACRE REDEVELOPMENT OPPORTUNITY

EXECUTIVE SUMMARY

Conveniently located just moments away from downtown Grand Rapids with convenient access to I-196 and US-131. The site offers unlimited potential for commercial, office, mixed-use, single-family and multi-family residential purposes. All public services and utilities (including electricity, water, storm sewers, natural gas and telephone services) are available to the site.

3483 - 3485


Parcel Size: 105 acres

Combined Parcels:(must be purchased as one – cannot be sold separately)

41-13-20-401-005 (building)

41-13-20-401-004 (land)

Municipality: City of Walker

Current Zoning: AA, Agricultural

PROPERTY DETAILS

Sale Price: $5,125,000

Price Per Acre $48,890.52

Terms: Cash to Seller

SALE TERMS

LOCATION DESCRIPTION


The Property is approximately two miles west of I-196 and US-131 and five minutes from downtown Grand Rapids, the second-largest city in Michigan. I-196 is a major east-west expressway, connecting Detroit to the Indiana border, and US-131 is a major north-southhighway, connecting South Bend, Indiana to northern Michigan.

The redevelopment offering provides location, amenities and transportation access that would support any combination of single-family, multi-family, office and retail space. With frontage along Lake Michigan Drive and close access to I-196 and US-131, the site offers tremendous visibility and easy access to downtown Grand Rapids.


Grand Rapids, MI 49534105-ACRE REDEVELOPMENT OPPORTUNITY3483 - 3485

GRAND RAPIDS


Grand Rapids is one of the fastest growing metropolitan areas in the country, with a low cost of living and one of the nations’ hottest housing markets (metro population of over 1,000,000). The John Ball Zoological Garden, Belknap Hill, Gerald R. Ford Museum, DeVos Place Convention Center, Van Andel Arena, Frederik Meijer Gardens and Sculpture Park and Amway Grand Plaza Hotel provide a varied entertainment and cultural community. It is also home to Art Prize, the largest art exposition in the US, with over 400,000 visitors each year.

The city is home to nearly 20 colleges and universities, including Michigan State University, Grand Valley State University, Calvin College, Cornerstone University and Davenport University.

Spectrum Health, the largest employer and medical group in West Michigan, is also headquartered in Grand Rapids, with 25,600 staff and 1,700 physicians. A new 1,000,000 SF Amazon distribution center is under construction. GE Aviation Systems, Alticor/Amway, Bissell, Spartan Nash, Foremost Insurance Company, Meijer, MC Sports and Smiths Industries are a few of the top Grand Rapids employers.

Regional shopping centers, including Woodland Mall, Shops at Centerpoint, RiverTown Crossings, Bucktown Shopping Center and TangerOutlets, draw thousands of shoppers each year to the area.



+ “Top 10 Best Cities for New Small Business” Lending Tree

+ “Top Hottest Real Estate Market to Watch in 2018” Trulia.com

+ “# 1 Place Millennials are Flocking in the US to Get a Job, Buy a Home and Start a Life” Business Insider

+ “Top 10 Big US Cities with the Fastest Growing Economies” Forbes

+ “#1 Fastest Growing Economy in the US” Forbes

+ “Top 25 Best Towns of 2017” Outside Magazine

2018 DEMOGRAPHICS




CBRE|Grand Rapids | 634 Front Avenue NW | Suite 550 | Grand Rapids, MI 49504

© 2018 Martin Commercial Properties West Michigan, LLC., d/b/a CBRE|Grand Rapids. All rights reserved. This information has been obtainedfrom sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation ofthe property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks ofCBRE, Inc. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respectiveowners and use of these images without the express written consent of the owner is prohibited.

POPULATION 1 Mile 3 Miles 5 Miles

2018 Population 7,235 39,988 136,273

INCOME

2018 Average Household Income $61,349 $70,680 $59,079

AGE2018 Median Age 34.4 38.7 33.3

UNEMPLOYMENT RATE

2018 Employed Population 96.6% 95.8% 93.5%

TRAFFIC

Volume Per Day (VPD)31,296

(Lake Michigan Dr NW & Bayberry Pointe Dr NW)

51,908(I-196 & Market Ave SW)

99,200(US Hwy 131 & Ottawa Ave SW)

CONTACT USROBERT LOTZAR

Vice President | Retail Advisor+1 616 726 [email protected]

105-acre redevelopment opportunity

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