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    Riverfront Commercial Condo in Grand Rapids Title is generated by Realmo AI

    801 Monroe Avenue NW, Grand Rapids, MI 49503

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    Claim this Listing
    For Sale
    $450,000

    COMMERCIAL - Grand Rapids, MI

    Type:Office
    Property size:
    1,437 SF
    Lot size:
    0.03 Acres
    Price / SF:
    $313/SF
    Added:
    Feb 24, 2026
    Days on Market:
    79
    Last Refresh:
    May 14 at 5:06 pm

    Property Features for 801 Monroe Avenue NW

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Bathrooms
    1
    Rooms
    Bathroom 1
    Standard status
    Active
    APN
    41-13-24-441-008
    Size
    1,437 SF
    Lot size
    0.03 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    UNIT 8 * LANDMARK LOFTS KENT COUNTY CONDOMINIUM SUBDIVISION PLAN NO.544 LIBER 5483 PAGE 640 AS AMENDED BY INSTRUMENT NO.
    Tax Annual Amount
    5547

    Utilities

    Utilities
    Electricity Available
    Heating system
    Forced Air, Heat Pump (Heating)
    Cooling system
    Central Air
    Water front
    1

    Building Details

    Year built
    1900
    Number of units
    1
    Roof type
    Rubber

    We can help!

    Listing Contact
    Hannah Greening
    Hannah Greening

    Listing agent Hannah Greening

    Listing office Fancy Real Estate 1015 Godfrey Ave SW Ste 100, Grand Rapids, MI

    Listing date Feb 24, 2026

    MLS# 26006652

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Rare first‑floor commercial condo with Grand River frontage.
    • Move‑in ready condition suitable for office, creative, or wellness use.
    • Private patio with direct access to Riveredge Trail and river views.
    • Located in the rapidly growing Monroe North district.
    • Modern industrial feel with 12‑foot ceilings.
    • Amenities include secure access, parking, bike storage, laundry, and fitness center.

    Overview

    This 1,437 square foot first-floor commercial condo, located in the Monroe North area of Grand Rapids, offers an owner-user opportunity along the Grand River. The unit is move-in ready and suitable for professional office, creative, or wellness purposes. It features two private rooms, a kitchenette, a bathroom, and storage space. The condo has high 12-foot ceilings and a modern industrial aesthetic. Sliding doors provide access to a private patio with direct access to the Riveredge Trail and river views. The property's amenities include secure key card access, surface parking, bike storage, and access to on-site laundry and a fitness center. The property is positioned in the rapidly evolving Monroe North district and offers direct access to the Riveredge Trail and scenic Grand River views. The lot size is 0.03 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Maharam Textile Manufacturer Next Level Personal ... Gym & Fitness Center Wallace Running Gym & Fitness Center Mike McAuliffe Sales Industrial Manufacturer Landmark Lofts Condo ... Condominium Complex

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Law Firm Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.67285
    Latitude
    42.976767

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    FAQs

    What type of property is this?
    Office units - Move-in ready commercial condo with river views and trail access.
    Where is this office units located?
    The property is located at 801 Monroe Avenue NW 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: Rare first‑floor commercial condo with Grand River frontage.; Move‑in ready condition suitable for office, creative, or wellness use.; Private patio with direct access to Riveredge Trail and river views.
    (616) 516-5561
    We can help!
    Listing Contact
    Hannah Greening
    Hannah Greening
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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