Multi-Tenant Office
For Sale
$6,200,000
5211 Cascade, Grand Rapids, MI
The office property occupies a 6.4-acre parcel at the northeast corner of Cascade Road SE and Spaulding Avenue SE.
Property Size45,814 SF
Lot Size6.40 Acres
Price / SF$135.33
Days on Market186
Property Features for 5211 Cascade
General Information
Standard status
Active
Size
45,814 SF
Net Rentable
40,183 SF
Class
Class A
Lot size
6.40 Acres
Property subtype
Commercial/Industrial
Additional Details
Highway Access
Yes
Property Use
Office
Building Details
Year Built
1997
Buildings
1
Building Size
45,814 SF
Tenancy
Multi
Listing Agency:
Lakeshore Commercial Real Estate
(616) 394-4500
Listed By:
Michael Nagelkirk · License #6501194952
(616) 836-1122
Source:
Jabachler
Added: Apr 27
Changed: Oct 27
Last Checked: Oct 27 at 3:31AM
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 Lakeshore Commercial Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1997, this multi-tenant office building contains 45,814 square feet, including 40,183 rentable square feet. The property sits on a 6.4-acre parcel and is configured for multiple tenants.
At the northeast corner of Cascade Road SE and Spaulding Avenue SE, the building has immediate access to I-96. The surrounding commercial corridor includes national and regional businesses.
At the northeast corner of Cascade Road SE and Spaulding Avenue SE, the building has immediate access to I-96. The surrounding commercial corridor includes national and regional businesses.
Key Highlights
- 45,814‑square‑foot building with 40,183 rentable square feet
- 6.4‑acre parcel
- Multi‑tenant office configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$428,201
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,564,020
$8.6M
Cap Rate 7%
$6,117,157
$6.1M
Cap Rate 9%
$4,757,789
$4.8M
Market Conditions
NOI Build-Up for 45,814 SF
Gross rent
$736.7K $16.08/SF
− Vacancy
−$165.8K −$3.62/SF
EGI
$570.9K $12.46/SF
− OpEx
−$142.7K −$3.12/SF
NOI
$428.2K $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%
$8,564,020
Cap Rate 7%
$6,117,157
Cap Rate 9%
$4,757,789
Alternative Uses
Best Use
Office B
$6.12M
$5.35M – $7.14M
NOI $428,201 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.63M
$9.30M – $12.40M
NOI $744,248 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - The office property occupies a 6.4-acre parcel at the northeast corner of Cascade Road SE and Spaulding Avenue SE.
Where is this office building located?
The property is located at 5211 Cascade Grand Rapids, MI.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: 45,814‑square‑foot building with 40,183 rentable square feet; 6.4‑acre parcel; Multi‑tenant office configuration
