Upgraded Office
For Sale
$850,000
4201 Richmond St NW, Grand Rapids, MI 49534
Flexible office configuration with separate entrances, on-site parking, and recently completed building improvements.
Property Size8,197 SF
Price / SF$103.70
Days on Market639
Property Features for 4201 Richmond St NW
General Information
Standard status
Active
Size
8,197 SF
Property subtype
Office
Zoning
SA
Additional Details
Highway Access
Yes
Amenities
Water
Sewer
Building Details
Year Built
1953
Buildings
1
Listing Agency:
NAI Wisinski of West Michigan
Listed By:
Kurt Kunst · License #6502343182
(616) 242-1116
Source:
Carwm.resimplifi
Added: Jan 14, 2025
Changed: Oct 5
Last Checked: Oct 14 at 7:35PM
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 NAI Wisinski of West Michigan
Investment Insights
Based on property information with market context.
This 8,197-square-foot office building includes 4,847 square feet of recently upgraded space available for owner occupancy. The balance is leased through June 30, 2026, with options that may extend the lease for an additional two years. Two separate entrances support distinct access points within the building, while the spacious lot provides ample parking. The property is zoned SA.
Building improvements include a roof installed in 2020, three new rooftop HVAC units, an updated front stone façade, and enhanced landscaping. Located at 4201 Richmond St NW in Grand Rapids, the property is situated near I-96 and combines a quiet setting with convenient regional access.
Building improvements include a roof installed in 2020, three new rooftop HVAC units, an updated front stone façade, and enhanced landscaping. Located at 4201 Richmond St NW in Grand Rapids, the property is situated near I-96 and combines a quiet setting with convenient regional access.
Key Highlights
- 8,197 SF office building with 4,847 SF available for owner occupancy
- Balance of building leased through June 30, 2026, with options for an additional two years
- New roof installed in 2020
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,613
Cap Rate
9.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,532,260
$1.5M
Cap Rate 7%
$1,094,471
$1.1M
Cap Rate 9%
$851,256
$851.3K
Market Conditions
NOI Build-Up for 8,197 SF
Gross rent
$131.8K $16.08/SF
− Vacancy
−$29.7K −$3.62/SF
EGI
$102.2K $12.46/SF
− OpEx
−$25.5K −$3.12/SF
NOI
$76.6K $9.35/SF
Area
Grand Rapids, MI
Vacancy
22.50%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,532,260
Cap Rate 7%
$1,094,471
Cap Rate 9%
$851,256
Alternative Uses
Best Use
Office B
$1.09M
$957.7K – $1.28M
NOI $76,613 @ 7.0% cap · market cap 9.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.90M
$1.66M – $2.22M
NOI $133,160 @ 7.0% cap · market cap 15.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Explore this area
Business Placement
Demographics for 49534, MI
23,996
Population
9,713
Households
2.5
Avg Household Size
37
Median Age
34%
College-Educated
95%
High-School Grad
35.3 sq mi
ZIP Area
680
Density / Sq Mi
$78,846
Median Household Income
$44,176
Median Earnings
$1,161
Median Rent
$270,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible office configuration with separate entrances, on-site parking, and recently completed building improvements.
Where is this office building located?
The property is located at 4201 Richmond St NW Grand Rapids, MI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 8,197 SF office building with 4,847 SF available for owner occupancy; Balance of building leased through June 30, 2026, with options for an additional two years; New roof installed in 2020
