Mixed-Use Commercial
For Sale
$900,000
1620 Madison Avenue SE, Grand Rapids, MI 49507
Commercial Sale, Grand Rapids, MI
Property Size4,000 SF
Lot Size0.09 Acres
Price / SF$225
Days on Market937
Property Features for 1620 Madison Avenue SE
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Elementary school district
Grand Rapids
Middle school district
Grand Rapids
High school district
Grand Rapids
Directions
US 131 to Hall Street SE, E on Hall and S on Madison to property
Subdivision
Grand Rapids - G
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
Legal Description
See Attached Legal Description
Utilities
Heating system
Forced Air
Building Details
Year built
2014
Floors in Building
2
Number of units
2
Listing Agency:
LCB & Associates Realty
(616) 485-2795
Listed By:
Latasha Black · License #6502431261
(616) 784-2360
Added: Mar 15, 2024
Changed: Sep 12
Last Checked: Oct 7 at 10:06AM
MLS# 24012768
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.
Investment Insights
Based on property information with market context.
This mixed-use commercial building was constructed in 2014 and is identified for office and showroom functions. The interior includes two bathrooms, while forced-air heating serves the building. The property occupies a 0.09-acre lot and is located at 1620 Madison Avenue SE in Grand Rapids, Michigan. Its commercial configuration supports a range of office, display, and general business applications, subject to buyer verification of measurements and intended use.
Key Highlights
- Mixed‑use building identified for office and showroom functions
- Constructed in 2014
- Located at 1620 Madison Avenue SE, Grand Rapids, MI 49507
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,983
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,159,660
$1.2M
Cap Rate 7%
$828,329
$828.3K
Cap Rate 9%
$644,256
$644.3K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$87.8K $21.96/SF
− Vacancy
−$5.0K −$1.25/SF
EGI
$82.8K $20.71/SF
− OpEx
−$24.8K −$6.21/SF
NOI
$58.0K $14.50/SF
Area
Grand Rapids, MI
Vacancy
5.70%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,159,660
Cap Rate 7%
$828,329
Cap Rate 9%
$644,256
Alternative Uses
Best Use
Retail
$828.3K
$724.8K – $966.4K
NOI $57,983 @ 7.0% cap · market cap 6.44%
Second Best
Mixed Use
$630.9K
$552.0K – $736.0K
NOI $44,160 @ 7.0% cap · market cap 4.91%
Theoretical Best
Specialty Retail
$928.3K
$812.3K – $1.08M
NOI $64,980 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
752
Businesses Nearby
Explore this area
Business Placement
Demographics for 49507, MI
38,137
Population
13,773
Households
2.8
Avg Household Size
30
Median Age
27%
College-Educated
78%
High-School Grad
5.5 sq mi
ZIP Area
6,934
Density / Sq Mi
$56,578
Median Household Income
$34,939
Median Earnings
$1,114
Median Rent
$179,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office and showroom functions are identified within a mixed-use commercial building built in 2014.
Where is this mixed-use property located?
The property is located at 1620 Madison Avenue SE Grand Rapids, MI.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Mixed‑use building identified for office and showroom functions; Constructed in 2014; Located at 1620 Madison Avenue SE, Grand Rapids, MI 49507
