Buying Commercial Property

Categories of City Owned Commercial Industrial Properties

City owned commercial / industrial properties are divided into two categories:

• Improved - the property has an existing structure
• Vacant - the property does not have a significant structure on the property

Only properties that have clear title and are approved by the City Commission will be sold.

Reasons for Sales

Generally, the goals to be attained by selling a commercial / industrial property are to maximize the purchase price, maximize investment, and create jobs. Other considerations include: compatibility with neighboring properties and contribution to the vitality of a business neighborhood.

Typical Methods of Selling Commercial / Industrial Properties

The City utilizes several methods of selling commercial/industrial properties depending on individual circumstances effecting the property.

List and Sell
Establish asking price and list with the Grand Rapids Multiple Listing Service. An offer to purchase a listed lot may be tendered through a realtor or submitted directly to the City's Economic Development Office.

Sealed Bid
City will request sealed bids. Bids will be simultaneously opened and judged by criteria pre-established. The bids will be submitted to the City Commission along with an award recommendation by City staff. A public hearing will be held and the City Commission will select the bid it feels best meets the needs of the community. Property may be listed with the Grand Rapids Multiple Listing Service. If so, an offer to purchase may be tendered through a realtor or submitted directly to the City's Economic Development Office.

Negotiated Sale
City will request proposals that meet established terms. City staff will review and negotiate. If approved by City Manager, a negotiated proposal will be submitted to City Commission. Property may be listed with the Grand Rapids Multiple Listing Service. If so, an offer to purchase may be tendered through a realtor or submitted directly to the City's Economic Development Office.

RFP
City will request sealed proposals. Bids will be simultaneously opened and judged by criteria pre-established. City Manager will bring forth recommendation to City Commission. Property may be listed with the Grand Rapids Multiple Listing Service. If so, an offer to purchase may be tendered through a realtor or submitted directly to the City's Economic Development Office.

All  available properties are listed on the MLS with an asking price.

For more information please call Eric Soucey at (616) 456-3197.