Building Details

Year built 1918

Listing Agency: Holland · Coldwell Banker Real Estate c***@schmidtfamilyofcompanies.com Show Phone

Listed By: Yarith Lozano Show Phone

Added: Aug 14 Changed: Sep 29 Last Checked: Oct 7 at 1:06AM

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MLS# 26042665

Copyright © 2026 Coldwell Banker Schmidt REALTORS. 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.

Built in 1918, this multifamily property contains approximately 2,412 square feet and two bathrooms on a 0.13-acre lot. It is currently operated as a rental and is offered as-is, with no recent updates reported. Tenant and rental history are available upon request, while buyers are advised to verify current rents, occupancy, condition, and compliance with local rental licensing requirements.

The property is in Grand Rapids’ West Grand neighborhood, near downtown, Bridge Street shops and restaurants, Grand Rapids Community College, John Ball Zoo, and major highway corridors. The offering may suit an investor seeking an existing rental asset or a property requiring repositioning, subject to independent review of its condition and operating details.

Key Highlights

• Approximately 2,412 sq. ft. multifamily property on a 0.13‑acre lot
• Built in 1918 with 2 bathrooms
• Currently operating as a rental

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,895

Cap Rate

8.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$457,900 $457.9K

Cap Rate 7%

$327,071 $327.1K

Cap Rate 9%

$254,389 $254.4K

Market Conditions

NOI Build-Up for 2,412 SF

Gross rent

$44.3K $18.36/SF

− Vacancy

−$2.7K −$1.10/SF

EGI

$41.6K $17.26/SF

− OpEx

−$18.7K −$7.77/SF

NOI

$22.9K $9.49/SF

Area

Grand Rapids, MI

Vacancy

6.00%

Lease Rate

$18.36 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$457,900

Cap Rate 7%

$327,071

Cap Rate 9%

$254,389

Alternative Uses

Best Use

Apartment 5plus

$327.1K

$286.2K – $381.6K (±1% cap)

NOI $22,895 @ 7.0% cap · market cap 8.18%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$559.8K

$489.8K – $653.1K (±1% cap)

NOI $39,183 @ 7.0% cap · market cap 13.99%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Single family properties

Suggested Use

Top Pick Dental Office Nail Salon (Bike/Boat/Book/etc) Store Daycare Center Grocery & Convenience Store Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,270

Businesses Nearby

Explore this area Business Placement

Demographics for 49504, MI

41,249

Population

18,830

Households

2.2

Avg Household Size

33

Median Age

39%

College-Educated

90%

High-School Grad

11.1 sq mi

ZIP Area

3,716

Density / Sq Mi

$68,326

Median Household Income

$41,138

Median Earnings

$1,145

Median Rent

$222,600

Median Home Value

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this single family properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Single family property - Existing rental operation in Grand Rapids’ West Grand neighborhood with tenant and rental history available upon request.

Where is this single family property located?

The property is located at 727 NW 6TH STREET NW Grand Rapids, MI.

What is the asking price?

The asking price for this property is $280,000.

What are key features of this property?

This property features: Approximately 2,412 sq. ft. multifamily property on a 0.13‑acre lot; Built in 1918 with 2 bathrooms; Currently operating as a rental