Private Office
455 Cherry Street SE Suite B, Grand Rapids, MI 49503
For Sale
Contact for pricing
A compact workspace includes utilities and access to a shared restroom.
Property Size200 SF
Price / SF$0.18
Days on Market50
Property Features for 455 Cherry Street SE Suite B
General Information
Standard status
Size
Site & Location
Neighborhood
Additional Details
Floor
Amenities
shared restroom
utilities included
quiet atmosphere
Listing Agency:
Urban Soil Realty
Listed By:
Bradley S Veneklase · License MI #6505408520
(616) 437-1065
Source:
Alexmi
Added: Sep 24
Changed: Oct 26
Last Checked: Nov 10 at 7:34AM
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 Urban Soil Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 200-square-foot private office occupies the basement level of a well-maintained building. Utilities are included, and occupants have access to a shared restroom. On-site parking is available.
The office is at 455 Cherry Street SE in Grand Rapids, near downtown, restaurants, and local amenities.
The office is at 455 Cherry Street SE in Grand Rapids, near downtown, restaurants, and local amenities.
Key Highlights
- 200 SF private office
- Basement‑level suite in a well‑maintained building
- Utilities included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,869
Suggested Prices Based on Cap Rates
Cap Rate 5%
$37,380
$37.4K
Cap Rate 7%
$26,700
$26.7K
Cap Rate 9%
$20,767
$20.8K
Market Conditions
NOI Build-Up for 200 SF
Gross rent
$3.2K $16.08/SF
− Vacancy
−$724 −$3.62/SF
EGI
$2.5K $12.46/SF
− OpEx
−$623 −$3.12/SF
NOI
$1.9K $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%
$37,380
Cap Rate 7%
$26,700
Cap Rate 9%
$20,767
Alternative Uses
Best Use
Office B
$26.7K
$23.4K – $31.2K
NOI $1,869 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$46.4K
$40.6K – $54.2K
NOI $3,249 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Location Intelligence
Trade Area within ½ mile
2,957
Businesses Nearby
Explore this area
Business Placement
Demographics for 49503, MI
39,344
Population
19,017
Households
2.1
Avg Household Size
30
Median Age
44%
College-Educated
88%
High-School Grad
7.3 sq mi
ZIP Area
5,390
Density / Sq Mi
$61,734
Median Household Income
$36,694
Median Earnings
$1,207
Median Rent
$224,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Grand Rapids, MI
Properties on Market for Office Units in Grand Rapids
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - A compact workspace includes utilities and access to a shared restroom.
Where is this office unit located?
The property is located at 455 Cherry Street SE Suite B Grand Rapids, MI.
What are key features of this property?
This property features: 200 SF private office; Basement‑level suite in a well‑maintained building; Utilities included
