Mixed-Use Industrial/Commercial Building For
Grand Rapids, MI 49534 Grand Rapids, MI 49534
Grand Rapids, MI, 49534
$1,500,000
For Sale
$1,500,000
Mixed-use building with industrial and office suites near I-96.
Property Size7,898 SF
Price / SF$189.92
Days on Market175
Property Features
General Information
- Standard status
- Active
- Size
- 7,898 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 2018
Listing agency
Signature Associates
(616) 822-6310
Listed by
Joe Rizqallah
(616) 822-6310
Source
Tcnworldwide
Added: Jan 27 Updated: Jul 6 at 10:08AM Checked: Jul 21 at 6:01AM
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 Signature Associates
Investment Insights
Based on property information with market context.
This mixed-use industrial/commercial building features three industrial/warehouse suites, each approximately 2,220 square feet, and two office suites. The property is located one block from Remembrance and 3 Mile on the northwest side of the city, and less than one mile from I-96. The industrial storage units include 10’ x 14’ overhead doors and 16’ clear span ceilings. Each suite has one ADA-compliant restroom. Zoned C-2, the property is suitable for a variety of uses. The office suites feature high-end furnishings, built-out space with restrooms, and kitchen countertops. Ample parking is available. The facade includes glass panels, large bay windows, and a decorative stone exterior. The warehouse suites are currently leased by tenants, and the office spaces may be available for immediate occupancy. The property has a total size of 7,898 square feet.
Key Highlights
- Mix‑use building with three industrial/warehouse suites and two office suites, offering diverse income potential or business use.
- Excellent location: Close proximity to Remembrance Road, 3 Mile Road, and less than 1 mile from I‑96.
- Industrial suites feature rare 10’ x 14’ overhead doors and 16’ clear span ceilings.
Local Financial Insights For Warehouse
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 | $118.5k | $15.00 |
| − Vacancy | −$5.0k | −$0.63 |
| EGI | $113.5k | $14.37 |
| − OpEx | −$17.0k | −$2.16 |
| NOI | $96.5k | $12.21 |
7,898 SF · lease $15.00/SF/yr · vacancy 4.20% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.38M
$1.21M – $1.61M
NOI $96,470 @ 7.0% cap · market cap 6.43%
Second Best
Mixed Use
$1.25M
$1.09M – $1.45M
NOI $87,194 @ 7.0% cap · market cap 5.81%
Theoretical Best
Specialty Retail
$1.83M
$1.60M – $2.14M
NOI $128,303 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use building with industrial and office suites near I-96.
Where is this mixed-use property located?
The property is located at Grand Rapids, MI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Mix‑use building with three industrial/warehouse suites and two office suites, offering diverse income potential or business use.; Excellent location: Close proximity to Remembrance Road, 3 Mile Road, and less than 1 mile from I‑96.; Industrial suites feature rare 10’ x 14’ overhead doors and **16’ clear span ceilings.**
