Renovated Mixed-Use
For Sale
$925,000
2400 Eastern Ave SE, Grand Rapids, MI 49507
Fully occupied property combining main-floor retail, patio space, and upper-level professional offices.
Property Size4,637 SF
Price / SF$199.48
Days on Market337
Property Features for 2400 Eastern Ave SE
General Information
Standard status
Active
Size
4,637 SF
Property subtype
Retail
Zoning
TN-TBA
Amenities
Water
Sewer
Natural Gas
Building Details
Year Built
2021
Listing Agency:
MOXIE Real Estate + Development
Listed By:
Max Grover
(616) 890-7794
Source:
Carwm.resimplifi
Added: Nov 11, 2025
Changed: Oct 11
Last Checked: Oct 12 at 4:48PM
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 MOXIE Real Estate + Development
Investment Insights
Based on property information with market context.
This 4,637-square-foot mixed-use building was renovated in 2021 and is fully occupied by a combination of main-floor retail, patio-oriented commercial space, and upper-level professional offices. Updated systems and finishes support the current configuration, while shared parking provides direct access for the property and its occupants. The building is zoned TN-TBA.
Positioned at the corner of Eastern Ave and Alger Street in Grand Rapids’ Alger Heights district, the property benefits from corner exposure and signage opportunity. The surrounding commercial corridor includes Real Food Café, Brass Ring Brewing, Ken’s Fruit Market, and The Old Goat. The address is within a walkable neighborhood characterized by local businesses and nearby residential streets.
Positioned at the corner of Eastern Ave and Alger Street in Grand Rapids’ Alger Heights district, the property benefits from corner exposure and signage opportunity. The surrounding commercial corridor includes Real Food Café, Brass Ring Brewing, Ken’s Fruit Market, and The Old Goat. The address is within a walkable neighborhood characterized by local businesses and nearby residential streets.
Key Highlights
- 4,637‑square‑foot mixed‑use building
- Renovated in 2021 with updated systems and finishes
- 100% occupied by retail and upper‑level professional office tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,217
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,344,340
$1.3M
Cap Rate 7%
$960,243
$960.2K
Cap Rate 9%
$746,856
$746.9K
Market Conditions
NOI Build-Up for 4,637 SF
Gross rent
$101.8K $21.96/SF
− Vacancy
−$5.8K −$1.25/SF
EGI
$96.0K $20.71/SF
− OpEx
−$28.8K −$6.21/SF
NOI
$67.2K $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%
$1,344,340
Cap Rate 7%
$960,243
Cap Rate 9%
$746,856
Alternative Uses
Best Use
Retail
$960.2K
$840.2K – $1.12M
NOI $67,217 @ 7.0% cap · market cap 7.27%
Second Best
Mixed Use
$731.3K
$639.9K – $853.2K
NOI $51,192 @ 7.0% cap · market cap 5.53%
Theoretical Best
Specialty Retail
$1.08M
$941.6K – $1.26M
NOI $75,328 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
635
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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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied property combining main-floor retail, patio space, and upper-level professional offices.
Where is this mixed-use property located?
The property is located at 2400 Eastern Ave SE Grand Rapids, MI.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 4,637‑square‑foot mixed‑use building; Renovated in 2021 with updated systems and finishes; 100% occupied by retail and upper‑level professional office tenants
