Landmark Mixed-Use Investment
100 Monroe Center Street Northwest Grand Rapids, MI 49503
100 Monroe Center Street Northwest, Grand Rapids, MI, 49503
$8,868,049
For Sale
$8,868,049
Fully-leased mixed-use building in downtown Grand Rapids.
Property Size32,106 SF
Price / SF$276.21
Days on Market97
Property Features for 100 Monroe Center Street Northwest
General Information
- Standard status
- Active
- Size
- 32,106 SF
- Property subtype
- Office
Listing Agency
(616) 485-4131
Listed by
Cameron Timmer · License #MI 6501380200
(616) 485-4131
Source
Cbre
Added: Apr 15 Updated: Jul 10 at 3:54 pm Checked: Jul 19 at 3:05 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cameron Timmer
Investment Insights
Based on property information with market context.
The Flat Iron Building is a fully-leased mixed-use investment property located at 100 Monroe Center Street in downtown Grand Rapids. The building is anchored by Smith, Haughey Rice & Roegge, P.C. The ground floor is occupied by Old World Olive Press, Cinco de Mayo, and Grand Rapids Game Show. The property is strategically positioned at the corner of Monroe Center St and Ottawa Ave, benefiting from a prime location in a bustling downtown setting surrounded by dining and entertainment options, as well as convenient access to transportation. The property has a size of 32106 square feet.
Key Highlights
- Landmark, fully‑leased mixed‑use investment property.
- Prime downtown Grand Rapids location at the corner of Monroe Center St and Ottawa Ave.
- Strong Net Operating Income (NOI) of $733,671.
Local Financial Insights For Mixed Use
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 | $616.4k | $19.20 |
| − Vacancy | −$49.3k | −$1.54 |
| EGI | $567.1k | $17.66 |
| − OpEx | −$212.7k | −$6.62 |
| NOI | $354.5k | $11.04 |
32,106 SF · lease $19.20/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$5.06M
$4.43M – $5.91M
NOI $354,450 @ 7.0% cap · market cap 4.00%
Second Best
Office B
$4.29M
$3.75M – $5.00M
NOI $300,079 @ 7.0% cap · market cap 3.38%
Theoretical Best
Specialty Retail
$7.45M
$6.52M – $8.69M
NOI $521,562 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Roberts Michael J
Law Firm
Geary Patrick F
Law Firm
Noland Craig R
Law Firm
Sterk Calvin J
Law Firm
Pigorsh Mary R
Law Firm
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FAQs
What type of property is this?
Mixed-use property - Fully-leased mixed-use building in downtown Grand Rapids.
Where is this mixed-use property located?
The property is located at 100 Monroe Center Street Northwest Grand Rapids, MI.
What is the asking price?
The asking price for this property is $8,868,049.
What are key features of this property?
This property features: Landmark, fully‑leased mixed‑use investment property.; Prime downtown Grand Rapids location at the corner of Monroe Center St and Ottawa Ave.; Strong Net Operating Income (NOI) of $733,671.
