Corner Office
For Sale
$414,700
758 BURTON ST, Grand Rapids, MI 49507
Two-parcel office property with private offices, conference space, and independently controlled HVAC zones.
Property Size3,540 SF
Price / SF$117.15
Days on Market87
Property Features for 758 BURTON ST
General Information
Standard status
Active
Size
3,540 SF
Total Parking Spaces
7
Property subtype
Industrial
Site & Location
Corner Location
Yes
Traffic Count
15,000 vehicles/day
Additional Details
Opportunity Zone
Yes
Amenities
3
50100
Building Details
Year Built
1935
Listing Agency:
RE/MAX of Grand Rapids (FH)
Listed By:
Margaret Peric
(616) 204-9792
Source:
Xome
Added: Jun 16
Changed: Sep 9
Last Checked: Sep 9 at 3:07PM
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 RE/MAX of Grand Rapids (FH)
Investment Insights
Based on property information with market context.
This office building comprises 3,540 of property area across two adjoining parcels at 758 Burton St SE and 2007 Eastern Ave SE. The interior includes 10 private offices, a conference room, breakroom, and 4 restrooms. Three HVAC zones operate through separate thermostats, supporting distinct temperature control within the building.
The property occupies the corner of Burton and Eastern with approximately 15,000 vehicles passing daily. It is designated within an Opportunity Zone and offers access to downtown Grand Rapids and major transportation routes. Capital improvements include a roof installed in 2023 and rooftop HVAC units replaced in 2017, 2022, and 2023. Seven designated parking spaces are available for lease.
The property occupies the corner of Burton and Eastern with approximately 15,000 vehicles passing daily. It is designated within an Opportunity Zone and offers access to downtown Grand Rapids and major transportation routes. Capital improvements include a roof installed in 2023 and rooftop HVAC units replaced in 2017, 2022, and 2023. Seven designated parking spaces are available for lease.
Key Highlights
- Two adjoining parcels at 758 Burton St SE and 2007 Eastern Ave SE
- Approximately 15,000 vehicles per day at the Burton and Eastern corner
- 10 private offices, conference room, breakroom, and 4 restrooms
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
$33,087
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
7.98%
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%
$661,740
$661.7K
Cap Rate 7%
$472,671
$472.7K
Cap Rate 9%
$367,633
$367.6K
Market Conditions
NOI Build-Up for 3,540 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
$56.9K $16.08/SF
− Vacancy
−$12.8K −$3.62/SF
EGI
$44.1K $12.46/SF
− OpEx
−$11.0K −$3.12/SF
NOI
$33.1K $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 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%
$661,740
Cap Rate 7%
$472,671
Cap Rate 9%
$367,633
Alternative Uses
Best Use
Retail
$733.1K
$641.4K – $855.3K
NOI $51,315 @ 7.0% cap · market cap 12.37%
Second Best
Office B
$472.7K
$413.6K – $551.5K
NOI $33,087 @ 7.0% cap · market cap 7.98%
Theoretical Best
Specialty Retail
$821.5K
$718.8K – $958.5K
NOI $57,507 @ 7.0% cap · market cap 13.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
15,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
Explore this area
Business Placement
Demographics for 49507, MI
38,137
Population
13,773
Households
2.8
Avg Household Size
30
Median Age
27%
College-Educated
78%
High-School Grad
5.5 sq mi
ZIP Area
6,934
Density / Sq Mi
$56,578
Median Household Income
$34,939
Median Earnings
$1,114
Median Rent
$179,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Two-parcel office property with private offices, conference space, and independently controlled HVAC zones.
Where is this office building located?
The property is located at 758 BURTON ST Grand Rapids, MI.
What is the asking price?
The asking price for this property is $414,700.
What are key features of this property?
This property features: Two adjoining parcels at 758 Burton St SE and 2007 Eastern Ave SE; Approximately 15,000 vehicles per day at the Burton and Eastern corner; 10 private offices, conference room, breakroom, and 4 restrooms
