Listed by Advantage Commercial Real Estate
$21,700,000
86 Monroe Center Street Northwest
Details
Property Type Office
Square Footage 104,419
Cap Rate 7.50%
NOI $1,627,296
Occupancy 100%
Tenancy Single
Brand/Tenant Blue Cross Blue Shield of Michigan
Lease Type Modified
Remaining Term 15
Class A
Year Built 1916
Year Renovated 2004
Acreage 0.410
Zoning CC
Investment Type Institutional
Sale Condition N/A
About This Property for Sale
Marketing description
86 Monroe Center is a fully leased, historic Class A office property located in the heart of downtown Grand Rapids, Michigan. The eight-story, 104,419-square-foot asset is prominently situated along the Monroe Center pedestrian corridor and serves as the regional headquarters of Blue Cross Blue Shield of Michigan, the state’s dominant health insurer and an investment-grade credit tenant.
With long-term occupancy, significant tenant investment in the facility, and a premier downtown location, the property offers investors stable cash flow backed by a high-credit tenant within one of Michigan’s most dynamic urban markets.
Listing Contacts
Listed by Advantage Commercial Real Estate
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$1,627,296.00
$135,608.00/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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