Freestanding Office Building
For Sale
$1,500,000
1750 Leonard St NE, Grand Rapids, MI 49505
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 Market103
Property Features for 1750 Leonard St NE
General Information
Standard status
Active
Size
7,500 SF
Total Parking Spaces
60
Property subtype
Office
Zoning
SD-NOS
Site & Location
Neighborhood
Northeast
Amenities
training room
break room
storage
monument signage
Power
Water
Sewer
60 Parking Spaces
Building Details
Year Renovated
2019
Listing Agency:
Colliers - Grand Rapids
Listed By:
Scott Morgan · License #6502112210
(616) 292-3455
Source:
Carwm.resimplifi
Added: Jul 15
Changed: Oct 5
Last Checked: Oct 24 at 1:33PM
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 Colliers - Grand Rapids
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$70,099
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,401,980
$1.4M
Cap Rate 7%
$1,001,414
$1.0M
Cap Rate 9%
$778,878
$778.9K
Market Conditions
NOI Build-Up for 7,500 SF
Gross rent
$120.6K $16.08/SF
− Vacancy
−$27.1K −$3.62/SF
EGI
$93.5K $12.46/SF
− OpEx
−$23.4K −$3.12/SF
NOI
$70.1K $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%
$1,401,980
Cap Rate 7%
$1,001,414
Cap Rate 9%
$778,878
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 authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Explore this area
Business Placement
Demographics for 49505, MI
31,444
Population
14,197
Households
2.2
Avg Household Size
36
Median Age
40%
College-Educated
96%
High-School Grad
8.8 sq mi
ZIP Area
3,573
Density / Sq Mi
$71,692
Median Household Income
$43,778
Median Earnings
$1,248
Median Rent
$227,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
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
