Mixed-Use Showroom
New
For Sale
$900,000
1620 Madison Avenue, Grand Rapids, MI 49507
The building offers a combination of office and showroom space for flexible commercial use.
Property Size4,000 SF
Price / SF$225
Days on Market6
Property Features for 1620 Madison Avenue
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Commercial
Site & Location
Neighborhood
Seeds of Promise
Taxes and HOA fees
Annual Taxes
$8,060
Building Details
Building Size
4,000 SF
Year Built
2014
Buildings
2
Stories
2
Units
2
Listing Agency:
LCB & Associates Realty
(616) 485-2795
Listed By:
Latasha Black · License #6502431261
(616) 538-3223
Source:
Buskardgroup
Added: Oct 19
Changed: Oct 22
Last Checked: Oct 22 at 2:11PM
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 LCB & Associates Realty
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Investment Insights
Based on property information with market context.
Built in 2014, this mixed-use commercial building contains 4,000 square feet of space. Its configuration includes office and showroom areas, with general mixed-use positioning also noted.
The property is located at 1620 Madison Avenue in Grand Rapids, Michigan.
The property is located at 1620 Madison Avenue in Grand Rapids, Michigan.
Key Highlights
- 4,000 square feet of mixed‑use commercial space
- Office and showroom configuration
- Built in 2014
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,983
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,159,660
$1.2M
Cap Rate 7%
$828,329
$828.3K
Cap Rate 9%
$644,256
$644.3K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$87.8K $21.96/SF
− Vacancy
−$5.0K −$1.25/SF
EGI
$82.8K $20.71/SF
− OpEx
−$24.8K −$6.21/SF
NOI
$58.0K $14.50/SF
Area
Grand Rapids, MI
Vacancy
5.70%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,159,660
Cap Rate 7%
$828,329
Cap Rate 9%
$644,256
Alternative Uses
Best Use
Retail
$828.3K
$724.8K – $966.4K
NOI $57,983 @ 7.0% cap · market cap 6.44%
Second Best
Mixed Use
$630.9K
$552.0K – $736.0K
NOI $44,160 @ 7.0% cap · market cap 4.91%
Theoretical Best
Specialty Retail
$928.3K
$812.3K – $1.08M
NOI $64,980 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
752
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Electronics 10%
Marathon Petroleum
Shops & Services
5,659 visits/mo
0.4 miles
Boost Mobile
Electronics
658 visits/mo
0.5 miles
Demographics for 49507, MI
38,137
Population
13,773
Households
2.8
Avg Household Size
30
Median Age
27%
College-Educated
78%
High-School Grad
5.5 sq mi
ZIP Area
6,934
Density / Sq Mi
$56,578
Median Household Income
$34,939
Median Earnings
$1,114
Median Rent
$179,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The building offers a combination of office and showroom space for flexible commercial use.
Where is this mixed-use property located?
The property is located at 1620 Madison Avenue Grand Rapids, MI.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 4,000 square feet of mixed‑use commercial space; Office and showroom configuration; Built in 2014
