Two-Story Office
For Sale
Contact for pricing
Pending
5380 Cascade Rd SE, Grand Rapids, MI 49546
Fully occupied property with three suites, private offices, and conference rooms on each floor.
Property Size10,000 SF
Days on Market228
Property Features for 5380 Cascade Rd SE
General Information
Standard status
Pending
Size
10,000 SF
Class
C
Property subtype
Office
Zoning
PUD-02
Occupancy
100%
Net Operating Income
$108,248
Additional Details
Road Access
Yes
Office Units
3
Amenities
landscaping
conference rooms
Building Details
Year Built
2021
Buildings
1
Stories
2
Building Size
10,000 SF
Abandoned
No
Listing Agency:
Advantage Commercial Real Estate
Listed By:
Michael Visser · License #6501368970
(616) 327-2800
Source:
Crexi
Added: Jan 17
Changed: Aug 30
Last Checked: Sep 2 at 9:48AM
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
Investment Insights
Based on property information with market context.
This 10,000-square-foot office building contains two levels and three suites. The property is fully occupied, with private offices and conference rooms arranged across both floors. One upper-level suite includes an existing medical buildout, while the remaining space offers office configurations that may support a range of professional uses.
Built in 2021, the property sits along Cascade Road in Grand Rapids, Michigan, within the PUD-02 zoning district. The site includes landscaped grounds and a maintained exterior, providing a finished presentation for an established office asset. Its combination of multiple suites, conference areas, and a medical-ready component creates a flexible configuration for professional occupants.
Built in 2021, the property sits along Cascade Road in Grand Rapids, Michigan, within the PUD-02 zoning district. The site includes landscaped grounds and a maintained exterior, providing a finished presentation for an established office asset. Its combination of multiple suites, conference areas, and a medical-ready component creates a flexible configuration for professional occupants.
Key Highlights
- 10,000 SF, two‑story office building completed in 2021
- Three‑suite configuration with full occupancy
- Private offices and conference rooms on both floors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$117,180
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,343,600
$2.3M
Cap Rate 7%
$1,674,000
$1.7M
Cap Rate 9%
$1,302,000
$1.3M
Market Conditions
NOI Build-Up for 10,000 SF
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.
Gross rent
$210.0K $21.00/SF
− Vacancy
−$14.7K −$1.47/SF
EGI
$195.3K $19.53/SF
− OpEx
−$78.1K −$7.81/SF
NOI
$117.2K $11.72/SF
Area
Grand Rapids, MI
Vacancy
7.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,343,600
Cap Rate 7%
$1,674,000
Cap Rate 9%
$1,302,000
Alternative Uses
Best Use
Healthcare Medical
$1.67M
$1.46M – $1.95M
NOI $117,180 @ 7.0% cap · market cap 7.81%
Second Best
Office B
$1.34M
$1.17M – $1.56M
NOI $93,465 @ 7.0% cap · market cap 6.23%
Theoretical Best
Specialty Retail
$2.32M
$2.03M – $2.71M
NOI $162,450 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
589
Businesses Nearby
Explore this area
Business Placement
Demographics for 49546, MI
35,536
Population
13,561
Households
2.6
Avg Household Size
38
Median Age
61%
College-Educated
96%
High-School Grad
17.9 sq mi
ZIP Area
1,985
Density / Sq Mi
$97,386
Median Household Income
$48,008
Median Earnings
$1,275
Median Rent
$389,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Fully occupied property with three suites, private offices, and conference rooms on each floor.
Where is this office building located?
The property is located at 5380 Cascade Rd SE 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: 10,000 SF, two‑story office building completed in 2021; Three‑suite configuration with full occupancy; Private offices and conference rooms on both floors
