Corner Office Building with
For Sale
$414,700
758 Burton Street SE, Grand Rapids, MI 49507
Office property with multiple private rooms, updated building systems, and access to downtown and major transportation routes.
Property Size3,540 SF
Days on Market74
Property Features for 758 Burton Street SE
General Information
Standard status
Active
Size
3,540 SF
Total Parking Spaces
7
Property subtype
Commercial
Site & Location
Traffic Count
15,000 vehicles/day
Road Access
Yes
Additional Details
Opportunity Zone
Yes
Taxes and HOA fees
Annual Taxes
$6,201
Amenities
conference room
breakroom
Building Details
Building Size
3,540 SF
Year Built
1935
Buildings
1
Units
2
Listing Agency:
RE/MAX of Grand Rapids (FH)
(616) 204-9792
Listed By:
Margaret E Peric
(616) 204-9792
Source:
Phgrealty
Added: Jun 18
Changed: Aug 28
Last Checked: Aug 28 at 11:28AM
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 occupies two adjoining parcels at the Burton Street and Eastern Avenue intersection. The layout includes 10 private offices, a conference room, breakroom, and 4 restrooms, supported by three independently controlled HVAC zones with separate thermostats. A new roof was installed in 2023, and rooftop HVAC units were replaced in 2017, 2022, and 2023.
The corner location records approximately 15,000 vehicles per day and provides convenient access to downtown Grand Rapids and major transportation routes. The property is within a designated Opportunity Zone and includes seven designated parking spaces available for lease. Its configuration supports continued office use while offering a basis for owner-user, investment, or redevelopment consideration.
The corner location records approximately 15,000 vehicles per day and provides convenient access to downtown Grand Rapids and major transportation routes. The property is within a designated Opportunity Zone and includes seven designated parking spaces available for lease. Its configuration supports continued office use while offering a basis for owner-user, investment, or redevelopment consideration.
Key Highlights
- Two adjoining parcels at the Burton Street and Eastern Avenue intersection
- Approximately 15,000 vehicles per day at the corner location
- 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
Office B
$472.7K
$413.6K – $551.5K
NOI $33,087 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
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
Property Profile
Current Use
Lease Details
15,000 VPD
Traffic count
Yes
Paved road access
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
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 - Office property with multiple private rooms, updated building systems, and access to downtown and major transportation routes.
Where is this office building located?
The property is located at 758 Burton Street SE 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 the Burton Street and Eastern Avenue intersection; Approximately 15,000 vehicles per day at the corner location; 10 private offices, conference room, breakroom, and 4 restrooms
