First-Floor Office Condo with Private
For Sale
$450,000
801 Monroe Avenue NW #105, Grand Rapids, MI 49503
Move-in ready first-floor office condo with two private rooms, a kitchenette, and direct patio access to the Riveredge Trail.
Property Size1,437 SF
Price / SF$313.15
Days on Market158
Property Features for 801 Monroe Avenue NW #105
General Information
Standard status
Active
Size
1,437 SF
Property subtype
Commercial
Financials
Asking Price
$450,000
HOA Fee
$903
Additional Details
Floor
1
Amenities
secure key card access
bike storage
on-site laundry
fitness center access
Building Details
Building Size
1,437 SF
Year Built
1900
Listing Agency:
Fancy Real Estate
(616) 516-5561
Listed By:
Hannah Greening
(616) 516-5561
Source:
Carolbollo
Added: Feb 24
Changed: Jul 30
Last Checked: Jul 31 at 1:25PM
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 Fancy Real Estate
Investment Insights
Based on property information with market context.
This first-floor office condo (Suite 105) offers 1,437 SF of flexible space designed for professional office, creative, or wellness use. Inside, the unit includes two private rooms, a kitchenette, a bathroom, and storage, along with high 12 foot ceilings and a modern industrial feel. Sliding doors open to a private patio with direct access to the Riveredge Trail and river views.
The building provides secure key card access and amenities that support day-to-day operations, including surface parking, bike storage, and on-site laundry. Residents also have access to a fitness center. HOA dues apply.
Built in 1900, the property sits along the Grand River in Grand Rapids, within Monroe North, an active growth corridor.
The building provides secure key card access and amenities that support day-to-day operations, including surface parking, bike storage, and on-site laundry. Residents also have access to a fitness center. HOA dues apply.
Built in 1900, the property sits along the Grand River in Grand Rapids, within Monroe North, an active growth corridor.
Key Highlights
- Suite 105 is a 1,437 SF first‑floor office condo
- Two private rooms plus kitchenette, bathroom, and storage
- High 12 foot ceilings with a modern industrial feel
Financial Insights For Office B
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 | $23.1k | $16.08 |
| − Vacancy | −$5.2k | −$3.62 |
| EGI | $17.9k | $12.46 |
| − OpEx | −$4.5k | −$3.12 |
| NOI | $13.4k | $9.35 |
1,437 SF · lease $16.08/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$191.9K
$167.9K – $223.9K
NOI $13,431 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$333.5K
$291.8K – $389.1K
NOI $23,344 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,016
Businesses Nearby
Explore this area
Business Placement
Demographics for 49503, MI
39,344
Population
19,017
Households
2.1
Avg Household Size
30
Median Age
44%
College-Educated
88%
High-School Grad
7.3 sq mi
ZIP Area
5,390
Density / Sq Mi
$61,734
Median Household Income
$36,694
Median Earnings
$1,207
Median Rent
$224,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Move-in ready first-floor office condo with two private rooms, a kitchenette, and direct patio access to the Riveredge Trail.
Where is this office units located?
The property is located at 801 Monroe Avenue NW #105 Grand Rapids, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Suite 105 is a 1,437 SF first‑floor office condo; Two private rooms plus kitchenette, bathroom, and storage; High 12 foot ceilings with a modern industrial feel
