1620 Madison Avenue SE, Grand Rapids, MI 49507
COMMERCIAL - Grand Rapids, MI
- Added:
- Mar 15, 2024
- Days on Market:
- 823
- Last Refresh:
- Jun 15 at 10:06 am
Property Features for 1620 Madison Avenue SE
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2
- Standard status
- Active
- APN
- 41-18-06-401-025
- Size
- 4,000 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Description
- See Attached Legal Description
- Tax Annual Amount
- 8060
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 2014
- Floors in Building
- 2
- Number of units
- 2
Listing agent Latasha Black License #6502431261 (616) 485-2795
Listing office LCB & Associates Realty 2136 Forest Hill Ave SE, Grand Rapids, MI (616) 485-2795
Listing date Mar 15, 2024
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Prime commercial real estate opportunity.
- Boasting over 4,000 square feet of versatile space.
- Strategically located for maximum business visibility.
- Built in 2014.
- Forced air heating.
- Mixed use, office showroom potential.
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $87.8k | $21.96 |
| − Vacancy | −$5.0k | −$1.25 |
| EGI | $82.8k | $20.71 |
| − OpEx | −$24.8k | −$6.21 |
| NOI | $58.0k | $14.50 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Grand Rapids
- County
- Kent
- State
- Michigan
- Longitude
- -85.658109
- Latitude
- 42.934079
