Office Building with Private Rear
174 E Adams Street Ionia, MI 48846
For Sale
$135,000
Pending
COMMERCIAL - Ionia, MI
Property Size1,080 SF
Lot Size0.14 Acres
Days on Market101
Property Features for 174 E Adams Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Bathrooms
- 1
- Rooms
- Bathroom 1
- Interior features
- Broadband
- Standard status
- Pending
- APN
- 203-090-000-145-00
- Size
- 1,080 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- CITY OF IONIA SUP. COVERTS ADDITION W 2FT OF LOT 29 & LOT 30 EXC W 6 1/2FT
- Tax Annual Amount
- 2330
Utilities
- Utilities
- Cable Available
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1992
- Number of units
- 1
Listing Agency:
Riverside Realty LLC
(616) 522-6006
Listed By:
Aimee Knudson · License #6501389321
(616) 401-5078
Added: Apr 17
Changed: Jul 24
Last Checked: Jul 26 at 8:06AM
MLS# 26016355
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 office building has been used as an office since 1992 and is described as well maintained. Interior details include custom woodwork throughout. The building has a full basement, with half of the basement finished, providing additional usable space.
Access is supported by easy off-street parking, along with a brand new privacy fence and a handicap ramp at the rear entrance.
The property is a compact office asset with a basement configuration that includes both finished and unfinished areas, offering flexible space for a range of office uses.
Access is supported by easy off-street parking, along with a brand new privacy fence and a handicap ramp at the rear entrance.
The property is a compact office asset with a basement configuration that includes both finished and unfinished areas, offering flexible space for a range of office uses.
Key Highlights
- Office building used since 1992 with custom woodwork throughout
- Forced‑air heating and central air conditioning
- Full basement with half finished
Financial Insights For Office B
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 | $19.3k | $17.88 |
| − Vacancy | −$3.8k | −$3.54 |
| EGI | $15.5k | $14.34 |
| − OpEx | −$3.9k | −$3.58 |
| NOI | $11.6k | $10.75 |
1,080 SF · lease $17.88/SF/yr · vacancy 19.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$165.9K
$145.2K – $193.6K
NOI $11,615 @ 7.0% cap · market cap 8.60%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$205.8K
$180.1K – $240.1K
NOI $14,405 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Downes Law Office
Law Firm
Ionia Community Theatre ...
Theater & Performing Art Venue
Brooke Vanburen-Hay
Physician
FAQs
What type of property is this?
Office building - Well-maintained office building features custom woodwork and rear off-street parking with handicap ramp and privacy fence.
Where is this office building located?
The property is located at 174 E Adams Street Ionia, MI.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: Office building used since 1992 with custom woodwork throughout; Forced‑air heating and central air conditioning; Full basement with half finished
