65 Monroe Center NW Street 400 Grand Rapids, MI 49503
Unique condominium in downtown Grand Rapids with historical and modern features.
Property Features for 65 Monroe Center NW Street 400
General Information
- Standard status
- Active
- Size
- 1,198 SF
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 1927
Listing office Mitten Real Estate (989) 350-1532
Listing date Dec 5, 2024
Source Exitrealty
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All listing content including descriptions, pricing, images are the copyrighted material of Mitten Real Estate
Investment Insights
Based on property information with market context.
Key Highlights
- Prime Downtown Grand Rapids location offering an urban lifestyle.
- Unique and eccentric condominium with historical architectural attributes and contemporary flair.
- Open concept floor plan with a living area featuring a century‑old barn wood accent wall.
Local Financial Insights For Apartment 5plus
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 | $22.0k | $18.36 |
| − Vacancy | −$1.3k | −$1.10 |
| EGI | $20.7k | $17.26 |
| − OpEx | −$9.3k | −$7.77 |
| NOI | $11.4k | $9.49 |
