For-Sale Office
425 Pleasant St SW Grand Rapids, MI 49503
New
425 Pleasant St SW, Grand Rapids, MI, 49503
$1,500,000
For Sale
$1,500,000
Office building for sale at 425 Pleasant St SW, offering 10,777 SF of space.
Property Size10,777 SF
Price / SF$139.19
Days on Market6
Property Features for 425 Pleasant St SW
General Information
- Standard status
- Active
- Size
- 10,777 SF
- Property subtype
- office
Listing agency
Grand Rapids
(616) 836-6493
Listed by
Jeff Karger · License #6501310277
(616) 836-6493
Source
Property.jll
Added: Jul 16 Updated: Jul 21 at 3:08PM Checked: Jul 21 at 3:08PM
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
Investment Insights
Based on property information with market context.
Now available for sale, this office building is located at 425 Pleasant St SW in Grand Rapids, MI. The property offers approximately 10,777 SF of office space, providing a defined footprint for a range of workplace uses.
For additional details about the building and sale terms, please contact us.
For additional details about the building and sale terms, please contact us.
Key Highlights
- Office building for sale at 425 Pleasant St SW
- Includes 10,777 SF of space
Local Financial Insights For Office B
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 | $173.3k | $16.08 |
| − Vacancy | −$39.0k | −$3.62 |
| EGI | $134.3k | $12.46 |
| − OpEx | −$33.6k | −$3.12 |
| NOI | $100.7k | $9.35 |
10,777 SF · lease $16.08/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.44M
$1.26M – $1.68M
NOI $100,727 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.50M
$2.19M – $2.92M
NOI $175,072 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Habitat Kent Workspace ...
Construction Company
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Office building for sale at 425 Pleasant St SW, offering 10,777 SF of space.
Where is this office building located?
The property is located at 425 Pleasant St SW Grand Rapids, MI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Office building for sale at 425 Pleasant St SW; Includes 10,777 SF of space
