Listed by Berkshire Hathaway HomeServices Michigan Real Estate
$4,600,000
3264 N Evergreen Drive NE
Details
APN 41-14-02-303-001
Property Type Office
Sub Type Traditional Office, Executive Office
Square Footage 31,761
Units 6
NOI $508,631
Year Built 2003
Buildings 1
Stories 3
Acreage 2.380
Parking Spaces 50 spaces
Parking Per SqFt 1.57
Ownership Corporation
Office | 31,761 SqFt
Marketing description
Unlock a rare investment opportunity in one of Grand Rapids most sought after professional corridors. Located on Evergreen Lake in the thriving NE submarket, this 30000 plus sq ft office and medical complex offers immediate income with upside potential. Anchored by two established long term medical tenants, the property provides built in stability while leaving significant square footage available for lease up and value creation. Purposefully designed to attract and retain high quality tenants, the building features a grand boardroom, three striking atriums with abundant natural light, and flexible office and medical suites that can be customized to maximize rental income across multiple tenant types. The layout and scale create an ideal environment for multi tenant occupancy, professional services, or a strategic reposition. Positioned within one mile of the highly desirable Knapps Corner corridor, the asset benefits from strong surrounding demographics, national retailers, and consistent foot traffic. Immediate access to major employers, retail, dining, and I 96 enhances long term tenant demand and leasing velocity.
With a blend of in place cash flow, leasing upside, and a premier location, this is a high potential asset for investors seeking to add value and drive returns in a proven growth corridor. Opportunities like this in NE Grand Rapids are limited, position your portfolio to capitalize on both stability and future upside.
Listing Contacts
Listed by Berkshire Hathaway HomeServices Michigan Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$508,631.00
$42,385.92/mo
Valuation Metrics
0
DSCR
11.06%
Cap Rate
11.06%
ROI
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