Office Building for
For Sale
$1,000,000
2426 Burton Street SE, Grand Rapids, MI 49546
Well-suited for buyers seeking an office-focused property in Kent County with an available sale opportunity.
Property Size4,081 SF
Days on Market146
Property Features for 2426 Burton Street SE
General Information
Standard status
Active
Size
4,081 SF
Total Parking Spaces
30
Taxes and HOA fees
Annual Taxes
$12,063
Amenities
Multi User Facility
Central Air
Natural Gas, Forced Air
Asphalt, Paved, Shared Driveway
Building Details
Building Size
4,081 SF
Year Built
1968
Buildings
1
Listing Agency:
Ensley Real Estate
(616) 293-5297
Listed By:
Laura E Ensley · License #6502396036
(616) 293-5297
Source:
Evrealestate
Added: Apr 1
Changed: Aug 8
Last Checked: Aug 23 at 4:46AM
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 Ensley Real Estate
Investment Insights
Based on property information with market context.
This offering presents an office building and office space asset for sale, listed as commercial real estate and intended for office-oriented occupancy. The property is offered for purchase with the specific location provided in the listing materials at 2426 Burton Street SE in Grand Rapids, Michigan.
The asset is located in Kent County, within Grand Rapids, making it part of the area’s established office market. While the provided information does not specify building size, interior configuration, or onsite amenities, the property is clearly positioned as an office use opportunity based on its documented property types.
For potential buyers, this property may fit a range of office users or investors looking for an office-focused asset. Depending on the buyer’s plan, it can be considered for owner-occupancy, renovation, or repositioning within an office environment. Because detailed improvements, floor layout specifics, and lease status are not included in the provided remarks, due diligence on the current condition and available space would be an important next step for any underwriting or tenancy plan.
The asset is located in Kent County, within Grand Rapids, making it part of the area’s established office market. While the provided information does not specify building size, interior configuration, or onsite amenities, the property is clearly positioned as an office use opportunity based on its documented property types.
For potential buyers, this property may fit a range of office users or investors looking for an office-focused asset. Depending on the buyer’s plan, it can be considered for owner-occupancy, renovation, or repositioning within an office environment. Because detailed improvements, floor layout specifics, and lease status are not included in the provided remarks, due diligence on the current condition and available space would be an important next step for any underwriting or tenancy plan.
Key Highlights
- Office‑focused property in Kent County (CountyOrParish: Kent)
- Built in 1968
- Heating: natural gas and forced air
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,143
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$762,860
$762.9K
Cap Rate 7%
$544,900
$544.9K
Cap Rate 9%
$423,811
$423.8K
Market Conditions
NOI Build-Up for 4,081 SF
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.
Gross rent
$65.6K $16.08/SF
− Vacancy
−$14.8K −$3.62/SF
EGI
$50.9K $12.46/SF
− OpEx
−$12.7K −$3.12/SF
NOI
$38.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$762,860
Cap Rate 7%
$544,900
Cap Rate 9%
$423,811
Alternative Uses
Best Use
Office B
$544.9K
$476.8K – $635.7K
NOI $38,143 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$947.1K
$828.7K – $1.10M
NOI $66,296 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
Explore this area
Business Placement
Demographics for 49546, MI
35,536
Population
13,561
Households
2.6
Avg Household Size
38
Median Age
61%
College-Educated
96%
High-School Grad
17.9 sq mi
ZIP Area
1,985
Density / Sq Mi
$97,386
Median Household Income
$48,008
Median Earnings
$1,275
Median Rent
$389,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Well-suited for buyers seeking an office-focused property in Kent County with an available sale opportunity.
Where is this office building located?
The property is located at 2426 Burton Street SE Grand Rapids, MI.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Office‑focused property in Kent County (CountyOrParish: Kent); Built in 1968; Heating: natural gas and forced air
