Three-Unit Mixed-Use
For Sale
$649,900
1205 Bridge Street NW, Grand Rapids, MI 49504
The property combines a street-facing office with two apartments, including one- and three-bedroom layouts.
Property Size2,789 SF
Price / SF$233.02
Days on Market29
Property Features for 1205 Bridge Street NW
General Information
Standard status
Active
Size
2,789 SF
Total Parking Spaces
4
Property subtype
Office
Space & Availability
Floor
Street Level
Condition
Newly Renovated
Site & Location
Neighborhood
Shawmut Hills
Road Access
Yes
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Office Units
1
Additional Details
Property Use
Mixed-Use
Taxes and HOA fees
Annual Taxes
$7,952
Building Details
Building Size
2,789 SF
Year Built
1946
Buildings
1
Listing Agency:
Mantle Realty Co.
Listed By:
John McMahon · License #6501437598
(616) 802-7889
Source:
Bialikrealestate
Added: Oct 1
Changed: Oct 28
Last Checked: Oct 26 at 2:57PM
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 Mantle Realty Co.
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Investment Insights
Based on property information with market context.
Built in 1946, this renovated 2,789-square-foot mixed-use property contains three units: a ground-floor office, a one-bedroom, one-bathroom apartment, and a three-bedroom, one-bathroom apartment. Four off-street parking spaces serve the property.
The building is on Bridge Street NW in Grand Rapids, Michigan. Its configuration brings office and residential space together within one property.
The building is on Bridge Street NW in Grand Rapids, Michigan. Its configuration brings office and residential space together within one property.
Key Highlights
- 2,789‑square‑foot mixed‑use property built in 1946
- Three units: one office and two apartments
- Apartments include one bedroom and one bath, and three bedrooms and one bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,791
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$615,820
$615.8K
Cap Rate 7%
$439,871
$439.9K
Cap Rate 9%
$342,122
$342.1K
Market Conditions
NOI Build-Up for 2,789 SF
Gross rent
$53.5K $19.20/SF
− Vacancy
−$4.3K −$1.54/SF
EGI
$49.3K $17.66/SF
− OpEx
−$18.5K −$6.62/SF
NOI
$30.8K $11.04/SF
Area
Grand Rapids, MI
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$615,820
Cap Rate 7%
$439,871
Cap Rate 9%
$342,122
Alternative Uses
Best Use
Mixed Use
$439.9K
$384.9K – $513.2K
NOI $30,791 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$378.2K
$330.9K – $441.2K
NOI $26,474 @ 7.0% cap · market cap 4.07%
Theoretical Best
Specialty Retail
$647.2K
$566.3K – $755.1K
NOI $45,307 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
379
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines a street-facing office with two apartments, including one- and three-bedroom layouts.
Where is this mixed-use property located?
The property is located at 1205 Bridge Street NW Grand Rapids, MI.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 2,789‑square‑foot mixed‑use property built in 1946; Three units: one office and two apartments; Apartments include one bedroom and one bath, and three bedrooms and one bath
