Historic Grand Rapids Mixed-Use
25 Sheldon Ave SE Grand Rapids, MI 49503
For Sale
$5,250,000
Pending
Landmark property in downtown Grand Rapids with historic architecture.
Property Size48,211 SF
Days on Market97
Property Features for 25 Sheldon Ave SE
General Information
Standard status
Pending
Size
48,211 SF
Property subtype
Commercial
Building Details
Year Built
1921
Listing Agency:
Grand Rapids North Market Center, LLC
(616) 308-3556
Listed By:
Tanya D Powell-May · License #6501295615
(616) 308-3556
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 28 at 6:24AM
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 Grand Rapids North Market Center, LLC
Investment Insights
Based on property information with market context.
Located in downtown Grand Rapids, 25 Sheldon SE is a property suitable for developers, hotel operators, and hospitality groups. Constructed in 1921 and renovated in 2016, the 48,211 square foot building includes four stories and a walkout lower level, combining historic architecture with modern upgrades. The building's layout features a historic ballroom, offices, conference rooms, and a full basketball court, offering adaptability for hospitality, entertainment, mixed-use redevelopment, or large-scale institutional use. The property is also suited for nonprofit services, educational programming, wellness organizations, creative studios, and recreation-based users. Off-street parking is included. The property is located off the Division and Fulton corridors and near Corewell Health, Trinity Health, Van Andel Arena, the Amway Grand Plaza, and the Acrisure Amphitheatre, placing it in Grand Rapids' cultural, medical, and entertainment district. The bike score is 66, making it bikeable. The walk score is 81, indicating it is very walkable. The transit score is 42, indicating some transit options are available.
Key Highlights
- Prime downtown Grand Rapids location with high walkability (Walk Score: 81)
- Large 48,211 SF building with historic architecture and modern upgrades (renovated in 2016)
- Versatile layout suitable for hospitality, entertainment, mixed‑use redevelopment, or large‑scale institutional use
Financial Insights For Hotel Hospitality
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $636.4k | $13.20 |
| − Vacancy | −$76.4k | −$1.58 |
| EGI | $560.0k | $11.62 |
| − OpEx | −$294.0k | −$6.10 |
| NOI | $266.0k | $5.52 |
48,211 SF · lease $13.20/SF/yr · vacancy 12.00% · expense 52.50%
Alternative Uses
Best Use
Mixed Use
$7.60M
$6.65M – $8.87M
NOI $532,249 @ 7.0% cap · market cap 10.14%
Second Best
Hotel Hospitality
$3.80M
$3.33M – $4.43M
NOI $266,009 @ 7.0% cap · market cap 5.07%
Theoretical Best
Specialty Retail
$11.19M
$9.79M – $13.05M
NOI $783,188 @ 7.0% cap · market cap 14.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Hotel - Landmark property in downtown Grand Rapids with historic architecture.
Where is this hotel located?
The property is located at 25 Sheldon Ave SE Grand Rapids, MI.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: Prime downtown Grand Rapids location with high walkability (Walk Score: 81); Large 48,211 SF building with historic architecture and modern upgrades (renovated in 2016); Versatile layout suitable for hospitality, entertainment, mixed‑use redevelopment, or large‑scale institutional use
