Brick Office Building with
For Sale
$489,000
6491 Sanru Avenue, Jenison, MI 49428
COMMERCIAL - Jenison, MI
Property Size2,448 SF
Lot Size0.45 Acres
Price / SF$199.75
Days on Market232
Property Features for 6491 Sanru Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
CS
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2
Parking
18
Interior features
Broadband
Elementary school district
Hudsonville
Middle school district
Hudsonville
High school district
Hudsonville
Directions
M21 to Port Sheldon, north to San Ru south to address.
Subdivision
Grand Rapids - G
Standard status
Active
APN
70-14-21-470-005
Size
2,448 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 16 THRU 20. GEORGETOWN VILLAGE
Tax Annual Amount
7129
Legal Description
LOTS 16 THRU 20. GEORGETOWN VILLAGE
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1990
Number of units
2
Building materials
Aluminum Siding, Brick
Roof type
Composition
Listing Agency:
Bellabay Realty (Kentwood)
(616) 292-6477
Listed By:
Ellyn Olney
(616) 299-7600
Added: Jan 1
Changed: Aug 4
Last Checked: Aug 21 at 2:06AM
MLS# 26000077
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 all-brick commercial office building contains two office suites within a dual-suite configuration. One suite is currently leased through fall of 2028, while the other suite is available for lease or for owner-occupancy. The property includes full, separate basements below each suite and is described as meticulously maintained with high-quality interior finishes.
The building is positioned adjacent to a busy thoroughfare, with visibility from Port Sheldon Rd and access from a quieter side road. The site provides ample on-site parking with 18 spaces for staff and visitors.
At approximately 2,448 square feet total, the layout supports flexible business use across the two suites, with the basement levels providing additional space beneath each suite.
The building is positioned adjacent to a busy thoroughfare, with visibility from Port Sheldon Rd and access from a quieter side road. The site provides ample on-site parking with 18 spaces for staff and visitors.
At approximately 2,448 square feet total, the layout supports flexible business use across the two suites, with the basement levels providing additional space beneath each suite.
Key Highlights
- All‑brick commercial office building with 2,448 SF total and dual‑suite layout
- One suite leased through fall of 2028; the other suite is available for lease or owner‑occupancy
- Full separate basements below each suite
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,968
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$539,360
$539.4K
Cap Rate 7%
$385,257
$385.3K
Cap Rate 9%
$299,644
$299.6K
Market Conditions
NOI Build-Up for 2,448 SF
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.
Gross rent
$41.7K $17.04/SF
− Vacancy
−$5.8K −$2.35/SF
EGI
$36.0K $14.69/SF
− OpEx
−$9.0K −$3.67/SF
NOI
$27.0K $11.02/SF
Area
Ottawa County, MI
Vacancy
13.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$539,360
Cap Rate 7%
$385,257
Cap Rate 9%
$299,644
Alternative Uses
Best Use
Office B
$385.3K
$337.1K – $449.5K
NOI $26,968 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$30.44M
$26.64M – $35.52M
NOI $2,130,908 @ 7.0% cap · market cap 435.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
342
Businesses Nearby
Explore this area
Business Placement
Demographics for 49428, MI
27,162
Population
10,312
Households
2.6
Avg Household Size
38
Median Age
38%
College-Educated
95%
High-School Grad
16.1 sq mi
ZIP Area
1,687
Density / Sq Mi
$92,290
Median Household Income
$49,911
Median Earnings
$1,373
Median Rent
$276,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - All-brick office building offers two suites, ample on-site parking, and full separate basements below each suite.
Where is this office building located?
The property is located at 6491 Sanru Avenue Jenison, MI.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: All‑brick commercial office building with 2,448 SF total and dual‑suite layout; One suite leased through fall of 2028; the other suite is available for lease or owner‑occupancy; Full separate basements below each suite
