551 Michigan Street NE
City of Grand Rapids, MI, 49503 $ 900,000
Bedrooms-- Baths1.0 Sq 2,070 Monthly Estimate*
$ 6,216
Commercial Property for sale in City of Grand Rapids, MI
for $900,000 with 1 full bath. This 2,070 square foot building was built in 1923 on a lot size of 0.17.
INVEST ON THE MEDICAL MILE. Position your business, investment portfolio, or future development vision along one of the most heavily invested corridors in West Michigan. 551 Michigan Street NE offers a rare opportunity to control commercial real estate directly along Grand Rapids' Michigan Street / Medical Mile corridor--an area shaped by billions of dollars of investment in healthcare, research, education, housing, and supporting commercial development. The property features approximately 2,070 square feet of existing commercial space across two parcels with valuable on-site parking and prominent Michigan Street exposure. And the story extends well beyond the building. The surrounding Grand Rapids market now exceeds 200,000 residents, while the broader Kent County economy supports more than 384,000 jobs across nearly 17,800 employer establishments. Within the immediate Michigan Street trade area, approximately 20,000 people are located within one mile, roughly 140,000 within threemiles, and more than 250,000 within five miles. Visibility is equally compelling. Nearby Michigan Street traffic counts exceed 15,000 vehicles per day, while immediate access to I-196 connects the property with Downtown Grand Rapids and the greater West Michigan region. The Medical Mile itself represents one of Grand Rapids' defining economic-development stories. Nearby institutions include Corewell Health Butterworth Hospital, Helen DeVos Children's Hospital, Van Andel Institute, Michigan State University College of Human Medicine, Grand Valley State University's health campus, and an expanding network of healthcare, research, educational, professional, residential and supporting commercial uses. Grand Rapids continues to identify healthcare and life sciences as important components of its future economic growth, creating a compelling environment for long-term ownership along Michigan Street. Use it today. Reposition it tomorrow. Hold it for what Grand Rapids becomes next. The existing property may accommodate a variety of co
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FeaturesGeneralSewer PublicSewer
Heating ForcedAir NaturalGas
Cooling CentralAir
Utilities ElectricityConnected NaturalGasConnected PhoneAvailable
Possession CloseOfEscrow
Roof Composition Rubber
Construction Materials Block Brick Frame VinylSiding WoodSiding
Year Built 1923
Property Subtype BusinessandRealEstate
Tax Year 2025
Ownership Other
Business Type Retail
County Kent
New Construction N
Property Type CommercialSale
HOA N
Attached Garage N
Subdivision Name NO
Garage Y/N N
Status Active
Directions Head South on College to Michigan Ave. Head east until you hit 551 Michigan Ave. (The north side of the road)
City GrandRapidsCity_Kent
Disclosures NonConformingZoning
Senior Community Y/N N
High School District GrandRapids
Zoning Description Commercial
Number Of Units Total 2
MLS Area Area41142GrandRapids
Lot Size Units SquareFeet
Carport Y/N N
Land Lease Y/N N
Tax Annual Amount 2633.0
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Building Area Units SquareFeet
Standard Status Active
Occupancy Type Vacant
Tax Assessed Value 51001
Legal Description PART OF LOT 1 BLK 1 COM AT SW COR OF SD LOT TH N ALONG W LINE OF SD LOT 36.16 FT TH E LY TO A PT ON E LINE OF SD LOT WH
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InteriorBasement CommonStorageLocker
Basement (Y/N) Y
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Total Baths 1
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ExteriorParking Features Paved
Water Source Public
Total Parking 15.0
Lot Size Area 2178.0
Foundation Details Basement Block
Number of Buildings 1
Spa N
Building Area Total 2070.0
Lot Dimensions 60x120
Lot Size Acres 0.17
Road Surface Type Paved
Waterfront Y/N N
Crops Included Y/N N
Road Responsibility PublicMaintainedRoad
Horse Y/N N
Irrigation Water Rights Y/N N
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* Excluded FeaturesList ByJeffrey GloverListing Agent
Keller Williams ProfessionalsBroker
Affordability Calculator
- Monthly Principal & Interest
- $6,216
- Monthly Property Taxes
- $219
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCommerical listings in Grand Rapids, MI
Average List Price $962,181
Percent of Sale Price 7%
About Grand Rapids, MI 199,553 Population
1% Since 2002
$ 43,558 Median Income
34 Median Age
26% Households with Children
Trends Information provided by ATTOM Data Solutions.
4909624 Elementary School
4909684 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 10/7/2026 | $900,000 | | Listed Price |