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    51-63 Monroe Center St NW Grand Rapids, MI 49503

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    For Sale
    $1,200,000

    Multi-tenant retail property in downtown Grand Rapids with income potential.

    Property size:
    8,635 SF
    Lot size:
    0.42 Acres

    Property Features for 51-63 Monroe Center St NW

    General Information

    Size
    8,635 SF
    Lot size
    0.42 Acres

    Source: Michael Cagen LLC Agent Michael A. Cagen

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Grand Rapids Retail Investment Opportunity

    Located in downtown Grand Rapids, this multi-tenant retail property is situated within the historic Belford Building at 53, 55, and 57 Monroe Center NW. The property benefits from high foot traffic and a dynamic urban environment. The property features three retail suites across three condominium units, totaling 8,635 rentable square feet. Current tenants include Garden District and D'Vine Nails & Spa, with additional leasing opportunities available. The property is professionally managed by Rockford Property Management.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.6689691
    Latitude
    42.9639632

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    FAQs

    What type of property is this?
    Retail space - Multi-tenant retail property in downtown Grand Rapids with income potential.
    Where is this retail space located?
    The property is located at 51-63 Monroe Center St NW Grand Rapids, MI.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: - High pro forma cap rate of 10.01% indicating exceptional income potential.; - Located in the heart of downtown Grand Rapids with high foot traffic.; - Multi-tenant retail property with strong tenant demand.
    (616) 291-6222
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    51-63 Monroe Center St NW Grand Rapids, MI 49503
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