Multi-Tenant Office
For Sale
$2,950,000
1787 Grand Ridge Ct NE, Grand Rapids, MI 49525
OR-PUD-zoned property includes two furnished-for-occupancy office suites available for lease.
Property Size18,418 SF
Price / SF$162.33
Days on Market134
Property Features for 1787 Grand Ridge Ct NE
General Information
Standard status
Active
Size
18,418 SF
Class
Class A
Property subtype
Office
Zoning
OR-PUD
Building Details
Year Built
1997
Buildings
1
Building Size
18,418 SF
Tenancy
Multi
Listing Agency:
NAI Wisinski of West Michigan
Listed By:
Hillary Taatjes Woznick · License #6501357172
(616) 862-1179
Source:
Carwm.resimplifi
Added: Jun 3
Changed: Oct 13
Last Checked: Oct 13 at 2:37AM
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.
Built in 1997, this office property has multiple tenants across two floors. The main level includes Freedom Functional Medicine and NovaCare Rehabilitation; Green Property Management, Morgan & Associates CPAs, and Mulder Dental occupy the second floor. The property is offered for sale, with two suites also available for lease. Suite 202 has 2,677 square feet, seven private offices, a reception area, conference room, two restrooms, kitchenette, and file storage. Suite 204 contains 1,059 square feet, three private offices, an open reception area, and a restroom. Zoning is OR-PUD.
The property is near Knapp’s Corner, with shopping, restaurants, and entertainment in the surrounding area. Nearby businesses include Meijer, D&W, Celebration Cinema, Aldi, Starbucks, Wendy’s, PF Chang’s, HopCat, and Applebee’s, as well as TJ Maxx, Old Navy, Ulta, Bath & Body Works, and Five Below. NAI Wisinski of West Michigan manages the property.
The property is near Knapp’s Corner, with shopping, restaurants, and entertainment in the surrounding area. Nearby businesses include Meijer, D&W, Celebration Cinema, Aldi, Starbucks, Wendy’s, PF Chang’s, HopCat, and Applebee’s, as well as TJ Maxx, Old Navy, Ulta, Bath & Body Works, and Five Below. NAI Wisinski of West Michigan manages the property.
Key Highlights
- Two office suites available for lease: 2,677 SF and 1,059 SF
- Suite 202 has 7 private offices, reception, conference room, 2 restrooms, kitchenette, and file storage
- Suite 204 includes 3 private offices, an open reception area, and a restroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$169,854
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,397,080
$3.4M
Cap Rate 7%
$2,426,486
$2.4M
Cap Rate 9%
$1,887,267
$1.9M
Market Conditions
NOI Build-Up for 18,173 SF
Gross rent
$292.2K $16.08/SF
− Vacancy
−$65.7K −$3.62/SF
EGI
$226.5K $12.46/SF
− OpEx
−$56.6K −$3.12/SF
NOI
$169.9K $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%
$3,397,080
Cap Rate 7%
$2,426,486
Cap Rate 9%
$1,887,267
Alternative Uses
Best Use
Office B
$2.43M
$2.12M – $2.83M
NOI $169,854 @ 7.0% cap · market cap 5.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.22M
$3.69M – $4.92M
NOI $295,220 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
943
Businesses Nearby
Explore this area
Business Placement
Demographics for 49525, MI
30,275
Population
12,577
Households
2.4
Avg Household Size
39
Median Age
49%
College-Educated
98%
High-School Grad
23.4 sq mi
ZIP Area
1,294
Density / Sq Mi
$87,969
Median Household Income
$45,740
Median Earnings
$1,335
Median Rent
$292,500
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - OR-PUD-zoned property includes two furnished-for-occupancy office suites available for lease.
Where is this office building located?
The property is located at 1787 Grand Ridge Ct NE Grand Rapids, MI.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Two office suites available for lease: 2,677 SF and 1,059 SF; Suite 202 has 7 private offices, reception, conference room, 2 restrooms, kitchenette, and file storage; Suite 204 includes 3 private offices, an open reception area, and a restroom
