Professional Office
For Sale
$495,000
Pending
5017 Plainfield Ave NE, Grand Rapids, MI 49525
Established office property with private workspaces, a conference room, on-site parking, and prominent signage.
Property Size1,745 SF
Days on Market88
Property Features for 5017 Plainfield Ave NE
General Information
Standard status
Pending
Size
1,745 SF
Property subtype
Office
Zoning
C-1
Amenities
private offices
conference room
strong signage
Building Details
Year Built
2015
Buildings
1
Listing Agency:
Advantage Commercial Real Estate
Listed By:
Gary Albrecht · License #6501370145
(616) 218-3928
Source:
Carwm.resimplifi
Added: Aug 7
Changed: Oct 25
Last Checked: Nov 1 at 2:20AM
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 Advantage Commercial Real Estate
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Investment Insights
Based on property information with market context.
Built in 2015, this professional office property offers a practical configuration with four private offices and a dedicated conference room. The layout is suited to organizations seeking defined work areas within a compact commercial setting, with on-site parking supporting daily operations. Signage is also available at the property.
The building is positioned along the Plainfield Avenue corridor in northeast Grand Rapids, with convenient access to nearby retail, restaurants, residential neighborhoods, and other area amenities. Its established Northview-area setting places surrounding services within the broader immediate area.
The building is positioned along the Plainfield Avenue corridor in northeast Grand Rapids, with convenient access to nearby retail, restaurants, residential neighborhoods, and other area amenities. Its established Northview-area setting places surrounding services within the broader immediate area.
Key Highlights
- Four private offices plus a conference room
- Built in 2015
- On‑site parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,310
Cap Rate
3.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$326,200
$326.2K
Cap Rate 7%
$233,000
$233.0K
Cap Rate 9%
$181,222
$181.2K
Market Conditions
NOI Build-Up for 1,745 SF
Gross rent
$28.1K $16.08/SF
− Vacancy
−$6.3K −$3.62/SF
EGI
$21.7K $12.46/SF
− OpEx
−$5.4K −$3.12/SF
NOI
$16.3K $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%
$326,200
Cap Rate 7%
$233,000
Cap Rate 9%
$181,222
Alternative Uses
Best Use
Office B
$233.0K
$203.9K – $271.8K
NOI $16,310 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$405.0K
$354.4K – $472.5K
NOI $28,348 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Explore this area
Business Placement
Demographics for 49525, MI
30,275
Population
12,577
Households
2.4
Avg Household Size
39
Median Age
49%
College-Educated
98%
High-School Grad
23.4 sq mi
ZIP Area
1,294
Density / Sq Mi
$87,969
Median Household Income
$45,740
Median Earnings
$1,335
Median Rent
$292,500
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Established office property with private workspaces, a conference room, on-site parking, and prominent signage.
Where is this office building located?
The property is located at 5017 Plainfield Ave NE Grand Rapids, MI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Four private offices plus a conference room; Built in 2015; On‑site parking
