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Jim Blehm

Team Owner, Realtor® | The Blehm Group | Keller Williams

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551 Michigan St NE , Grand Rapids, MI 49503
$900,000
Est. Payment: $2,000.00/mo
1 Bath
2070 Sqft
0.05 Acres
Status: active | Days on site: 19
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Agent profile image
Jim Blehm
Team Owner, Realtor®

House Description

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 three miles, 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 commercial, professional, medical, office or investment strategies, while the site's location and configuration create additional potential for buyers interested in exploring redevelopment, mixed-use or vertical-development concepts, subject to zoning, governmental approvals, engineering and buyer due diligence. For an owner-user, this is visibility and accessibility. For an investor, it is a strategic holding within one of Grand Rapids' strongest employment and institutional corridors. For a developer, it is an opportunity to evaluate what comes next. 551 Michigan Street NE — invest in the property, the Medical Mile and the continued growth of Grand Rapids. Offered at $900,000.

Highlights

Listed by Jeffrey Glover , 616-594-1000 and Ryan M Prichard , 616-295-3632 Keller Williams Professionals , 734-459-4700. MichRIC

Property Type

Commercial Sale

Lot/Acreage
0.05

Year Built

1923

County

Kent

Neighborhood

No

School District

Grand Rapids

Listing ID

26053456

Questions about this listing?

Contact Agent

Interior Features

Bedrooms and Bathrooms
  • ▪ Bathrooms:1
  • ▪ Full Bathrooms:1
Air Cond:Central Air
Fireplaces:

Exterior Features

Garage Capacity:15
Roof:Composition,Rubber
Principal Interest
$2,000
Taxes
$219

Home Price

$900,000

Loan Details

30 yrs
0%

Down Payment

20%
$180,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$2,000.00

Principal

Taxes

Principal Taxes HOA Total
Monthly $2,000.00 $219.42 $0.00 $2,219.42
Yearly $24,000.00 $2,633.00 $0.00 $26,633.00
Total $720,000.00 $78,990.00 $0.00 $798,990.00
Lender profile image
Brian Belinger
Loan Originator
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Market insight data is pulled from the same city as the listing being viewed (Grand Rapids, MI).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Southwestern Michigan Regional Information Center, LLC and is deemed reliable but not guaranteed accurate.

Data last updated: 2026-11-01T14:17:27.000Z

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