GVSU pays 5x market value for Admiral | WOOD TV8
GRAND RAPIDS, Mich. (WOOD) - Grand Valley State University paid $1 million for a gas station near their downtown Grand Rapids campus and will tear it down in the summer to expand their footprint in the area.
But the Admiral Gas Station at 346 West Fulton is worth approximately $200,000, according to city records.
The assessed value of the property is $94,400, meaning the actual value is $188,800.
Huh?
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