Freestanding Office Building
1750 Leonard St NE Grand Rapids, MI 49505
New
For Sale
$1,500,000
Well-maintained freestanding office building with a renovated main level, lower-level support space, and 60 parking spaces.
Property Size7,500 SF
Price / SF$200
Days on Market2
Property Features for 1750 Leonard St NE
General Information
- Standard status
- Active
- Size
- 7,500 SF
- Property subtype
- Office
Listing Agency:
Grand Rapids
(616) 988-5814
Listed By:
Scott Morgan · License #6502112210
(616) 988-5814
Source:
Colliers
Added: Jul 24
Changed: Jul 25
Last Checked: Jul 25 at 11:19AM
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 Grand Rapids
Investment Insights
Based on property information with market context.
This well-maintained freestanding office building offers approximately 7,500 SF of total space, featuring a main level and a lower level totaling 2,500 SF. The lower level includes a training room, break room, and storage. The property was originally expanded and comprehensively renovated in 2019, and the capital improvements include a new roof, mechanical systems updates, and a resurfaced parking lot.
Set in a highly visible corner location at Leonard Street and Plymouth Road, the building benefits from strong street presence and prominent monument signage at the intersection. Ample on-site parking is available with approximately 60 surface spaces.
The combination of updated building systems, dedicated support space, and off-street parking makes this a straightforward, turnkey office asset for an owner-user or investor.
Set in a highly visible corner location at Leonard Street and Plymouth Road, the building benefits from strong street presence and prominent monument signage at the intersection. Ample on-site parking is available with approximately 60 surface spaces.
The combination of updated building systems, dedicated support space, and off-street parking makes this a straightforward, turnkey office asset for an owner-user or investor.
Key Highlights
- 7,500 SF freestanding office building on a corner at Leonard Street and Plymouth Road
- Originally expanded and comprehensively renovated in 2019 with a 5,000 SF addition
- 2019/major capital improvements include a new roof, mechanical systems, and resurfaced parking lot
Financial Insights For Office B
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 | $120.6k | $16.08 |
| − Vacancy | −$27.1k | −$3.62 |
| EGI | $93.5k | $12.46 |
| − OpEx | −$23.4k | −$3.12 |
| NOI | $70.1k | $9.35 |
7,500 SF · lease $16.08/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.00M
$876.2K – $1.17M
NOI $70,099 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.03M
NOI $121,838 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Velo Law
Law Firm
FAQs
What type of property is this?
Office building - Well-maintained freestanding office building with a renovated main level, lower-level support space, and 60 parking spaces.
Where is this office building located?
The property is located at 1750 Leonard St NE 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: 7,500 SF freestanding office building on a corner at Leonard Street and Plymouth Road; Originally expanded and comprehensively renovated in 2019 with a 5,000 SF addition; 2019/major capital improvements include a new roof, mechanical systems, and resurfaced parking lot
