$4,000,000

139 Pearl St NW Grand Rapids, MI 49503

Downtown Grand Rapids Neighborhood

Estimated payment $27,225/month

Total Views 2,836
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

Highlights

  • 1 Fireplace
  • Forced Air Heating System
  • 2-minute walk to Rosa Parks Circle
  • Brick or Stone Mason
  • High Speed Internet

About This Home

Proud to present 139 Pearl for sale. This licensed boutique hotel is strategically located in the heart of Grand Rapids core downtown business district, also known as the Hotel District. Originally comprising 14 long-term apartments and 2 commercial spaces (16 total units),the property has undergone a strategic transformation into a mixed-use building, now approved for short-term transient stays. Featuring high quality finishes with tall ceilings, granite surfaces and in unit washer & dryer, these fully furnished units show well and allow a new owner to capitalize on an already stabilized, high-performing boutique hotel in a rapidly growing market. With Grand Rapids continued expansion, the asset is well-positioned for long term appreciation and increased cash flow.

Listing Agent

Daniel Kolp

MOXIE Real Estate + Development License #6501448312 Listed on: 07/11/2025

Co-Listing Agent

Shawn Jacobs

MOXIE Real Estate + Development License #6501370018

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $61,608

Year Built

  • Built in 1890

Lot Details

  • 4,530 Sq Ft Lot
  • Lot Dimensions are 42 x 304.62

Home Design

  • Brick or Stone Mason
  • Stone

Interior Spaces

  • 1 Fireplace
  • Basement Fills Entire Space Under The House
  • Laundry in unit

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Natural Gas Connected
  • High Speed Internet
  • Cable TV Available

Community Details

  • 2 Units

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$61,608

Year Built

Built in 1890

Lot Details

0

Listing Details

  • Property Sub-Type: 5+ Units
  • Property Type: Multi Family
  • New Construction: No
  • Year Built: 1890
  • Location Property Info:Property Sub-Type: 5+ Units
  • General Property Info:New Construction2: No
  • General Property Info:Lot Dimensions: 42 x 304.62
  • General Property Info:Waterfront3: No
  • General Property Info:Basement: No
  • Tax Info:Zoning3: Commercial
  • Waterfront Options:Water Access YN: No
  • General Property Info:Total _pound_ Units: 2
  • General Property Info:Total _pound_ Bldgs: 1.0
  • Heat Type:Forced Air: Yes
  • Substructure:Full: Yes
  • Heat Source:Natural Gas3: Yes
  • Utilities Attached Electricity Connected: Yes
  • Utilities Attached Natural Gas Connected: Yes
  • Util Avail at Street Cable Available: Yes
  • Sewer:Public Sewer5: Yes
  • Water:Public Water4: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplaces: 1
  • Basement: Full
  • Basement: No
  • Laundry Features:In Unit: Yes

Exterior Features

  • Construction Materials: Stone, Other
  • List Price: 4000000.0
  • Number of Buildings: 1
  • Waterfront: No
  • Access Feat:Accessibility Features2: No
  • Exterior Material:Stone: Yes

Utilities

  • Heating: Forced Air
  • Heating: Yes
  • Laundry Features: In Unit
  • Utilities: Cable Available, Natural Gas Connected, Electricity Connected

Lot Info

  • Lot Size Acres: 0.1
  • Lot Size Area: 0.1
  • Lot Dimensions: 42 x 304.62
  • Lot Size Sq Ft: 4530.0
  • Zoning Description: Commercial

Rental Info

  • Owner Pays: Electricity, Water, Sewer, Gas
  • Tenant Pays: None

Multi Family

  • Number of Units Total: 2

Tax Info

  • Tax Annual Amount: 61608.0
  • Tax Year: 2025

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $56,631 $1,341,800 $0 $0
2024 $56,631 $1,340,100 $0 $0
2023 $56,174 $1,201,500 $0 $0
2022 $53,389 $1,029,600 $0 $0
2021 $2,560 $983,800 $0 $0
2020 $43,263 $983,800 $0 $0
2019 $42,941 $939,200 $0 $0
2018 $42,941 $810,600 $0 $0
2017 $38,474 $775,900 $0 $0
2016 $38,662 $775,900 $0 $0
2015 $36,837 $775,900 $0 $0
2013 -- $709,200 $0 $0
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/11/2025 07/11/25 For Sale $4,000,000 0.0% --
03/24/2025 03/24/25 Price Changed $1,500 0.0% $3 / Sq Ft
03/21/2025 03/21/25 For Rent $1,500 -- --
Source: Southwestern Michigan Association of REALTORS®

Purchase History

Date Type Sale Price Title Company
Land Contract -- None Available
Warranty Deed -- First American Title
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $1,895,000 Future Advance Clause Open End Mortgage
Previous Owner $676,000 Future Advance Clause Open End Mortgage
Closed $0 Land Contract Argmt. Of Sale
Source: Public Records

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 25034224

Southwestern Michigan Association of REALTORS®

APN: 41-13-25-277-030

Michigan Kent County Grand Rapids 49503 Downtown Grand Rapids

139 Pearl St NW, Grand Rapids, MI

This home is located at 139 Pearl St NW, Grand Rapids, MI 49503 and is currently priced at $4,000,000. This property was built in 1890. 139 Pearl St NW is a home located in Kent County with nearby schools including Grand Rapids Montessori Academy, Alger Middle School, and Ottawa Hills High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Southwestern Michigan Association of REALTORS® Information is deemed reliable but not guaranteed.
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Listing Agent
Daniel Kolp
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MOXIE Real Estate + Development
(616) 794-8978