Listed by Bradley Company Grand Rapids
$1,090,000
40 Monroe Center St NW
Details
APN 14-13-25-287-046;14-13-25-287-047;14-13-25- 287-048
Property Type Office
Sub Type Executive Office, investment
Square Footage 12,998
Cap Rate 3.84%
NOI $41,852
Tenancy Vacant
Lease Type NNN
Price per SqFt $84
Buildings 1
Stories 3
Acreage 0.320
Zoning CBD-4
Investment Type Owner/User
Office | 3.84% CAP | 12,998 SqFt
Marketing description
Located at one of downtown grand rapids' most prominent corners, the historic peck building, located on monroe center, sits at the center of the city's thriving central business district — surrounded by top-tier dining, breweries, entertainment, and retail.
The second floor is home to two well-established tenants, SeyferthPR and Kolab LLC, providing a reliable & stablized solid income foundationand is perfect for any owner/user buyer. A third suite occupied by Bravo LT on a month-to-month arrangement at below-market rents creates an immediate opportunity — whether for an investor repositioning the asset or an owner-user looking to plant roots in the heart of downtown Grand Rapids.
Investment highlights
- Second floor office condos investment sale
- Two leased condo units totalling 8,876 sf. the third 4,122 sf condo is available for an owner user.
- Surrounded by strong office and retail with downtown Walkability on monroe center
- Multiple nearby parking options
- Ideal opportunity for an owner user investment vacant space
Listing Contacts
Listed by Bradley Company Grand Rapids
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$41,852.00
$3,487.67/mo
Valuation Metrics
0
DSCR
3.84%
Cap Rate
3.84%
ROI
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Zoning
CC SpecialCity Center
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