Corner Office
For Sale
$414,700
2007 Eastern Ave SE, Grand Rapids, MI 49507
Two single-story buildings provide private offices, conference space, restrooms, and a breakroom in a flexible professional setting.
Property Size3,540 SF
Lot Size0.11 Acres
Price / SF$117.15
Days on Market273
Property Features for 2007 Eastern Ave SE
General Information
Standard status
Active
Size
3,540 SF
Total Parking Spaces
10
Lot size
0.11 Acres
Property subtype
Office
Zoning
TB
Additional Details
Opportunity Zone
Yes
Road Access
Yes
Land Use
office
Amenities
breakroom
conference room
Power
Water
Sewer
Natural Gas
10 Parking Spaces
Building Details
Year Built
1935
Buildings
2
Stories
1
Listing Agency:
RE/MAX of Grand Rapids
Listed By:
Margo Peric
(616) 204-9792
Source:
Carwm.resimplifi
Added: Jan 14
Changed: Oct 13
Last Checked: Oct 12 at 4:44PM
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 RE/MAX of Grand Rapids
Investment Insights
Based on property information with market context.
This office property comprises two single-story buildings with approximately 3,540 SF combined. The layout includes 10 private offices, 4 restrooms, 1 breakroom, and 1 conference room. Building improvements include a new roof installed in 2023 and three separately controlled rooftop HVAC systems with independent thermostats; the rooftop A/C units were replaced in 2017, 2022, and 2023.
The property occupies the corner of Burton St. and Eastern Ave. in Grand Rapids, with access to 7 designated parking spaces available for lease. The combined lots measure approximately 4,443 SF, or .11 acre. Zoning is TB, and the property is within a designated Opportunity Zone. Office, professional services, or mixed-use redevelopment may be considered subject to approvals.
The property occupies the corner of Burton St. and Eastern Ave. in Grand Rapids, with access to 7 designated parking spaces available for lease. The combined lots measure approximately 4,443 SF, or .11 acre. Zoning is TB, and the property is within a designated Opportunity Zone. Office, professional services, or mixed-use redevelopment may be considered subject to approvals.
Key Highlights
- Two single‑story office buildings totaling approximately 3,540 SF
- 10 private offices, 4 restrooms, 1 breakroom, and 1 conference room
- New roof installed in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,087
Cap Rate
7.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$661,740
$661.7K
Cap Rate 7%
$472,671
$472.7K
Cap Rate 9%
$367,633
$367.6K
Market Conditions
NOI Build-Up for 3,540 SF
Gross rent
$56.9K $16.08/SF
− Vacancy
−$12.8K −$3.62/SF
EGI
$44.1K $12.46/SF
− OpEx
−$11.0K −$3.12/SF
NOI
$33.1K $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%
$661,740
Cap Rate 7%
$472,671
Cap Rate 9%
$367,633
Alternative Uses
Best Use
Office B
$472.7K
$413.6K – $551.5K
NOI $33,087 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$821.5K
$718.8K – $958.5K
NOI $57,507 @ 7.0% cap · market cap 13.87%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
277
Businesses Nearby
Explore this area
Business Placement
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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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Two single-story buildings provide private offices, conference space, restrooms, and a breakroom in a flexible professional setting.
Where is this office building located?
The property is located at 2007 Eastern Ave SE Grand Rapids, MI.
What is the asking price?
The asking price for this property is $414,700.
What are key features of this property?
This property features: Two single‑story office buildings totaling approximately 3,540 SF; 10 private offices, 4 restrooms, 1 breakroom, and 1 conference room; New roof installed in 2023
