Mixed-Use Property with
For Sale
$950,000
827 & 829 Bridge St NW, Grand Rapids, MI 49504
Commercial space combines storefront exposure, office amenities, an upper-level apartment, and a detached garage.
Property Size5,307 SF
Price / SF$179.01
Days on Market77
Property Features for 827 & 829 Bridge St NW
General Information
Standard status
Active
Size
5,307 SF
Property subtype
Retail
Zoning
TBA
Amenities
storefront windows
reception area
conference room
kitchen
communal workspaces
recreational space
detached garage
Building Details
Year Built
1961
Listing Agency:
Advantage Commercial Real Estate
(616) 724-0024
Listed By:
Thomas Vredevelt · License #501448393
(616) 724-0024
Source:
Carwm.resimplifi
Added: Jun 17
Changed: Aug 31
Last Checked: Aug 31 at 12:43PM
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 Advantage Commercial Real Estate
Investment Insights
Based on property information with market context.
Built in 1961, this 5,307-square-foot mixed-use property combines commercial space with an apartment above. The main level includes storefront windows, reception space, a conference room, kitchen, shared work areas, and recreational space. A detached garage contributes storage and operational utility, with additional on-site parking also provided.
The property occupies the Bridge Street corridor at 827 & 829 Bridge St NW in Grand Rapids, Michigan. Bridge Street Market, Adobe, Butchers Union, New Holland Brewing, and other neighborhood businesses are located less than half a mile away. Zoning is listed as TBA.
The property occupies the Bridge Street corridor at 827 & 829 Bridge St NW in Grand Rapids, Michigan. Bridge Street Market, Adobe, Butchers Union, New Holland Brewing, and other neighborhood businesses are located less than half a mile away. Zoning is listed as TBA.
Key Highlights
- 5,307‑square‑foot mixed‑use property at 827 & 829 Bridge St NW
- Commercial space with storefront windows, reception area, conference room, kitchen, communal workspaces, and recreational space
- Apartment located above the commercial area
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
$76,929
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
8.10%
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%
$1,538,580
$1.5M
Cap Rate 7%
$1,098,986
$1.1M
Cap Rate 9%
$854,767
$854.8K
Market Conditions
NOI Build-Up for 5,307 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
$116.5K $21.96/SF
− Vacancy
−$6.6K −$1.25/SF
EGI
$109.9K $20.71/SF
− OpEx
−$33.0K −$6.21/SF
NOI
$76.9K $14.50/SF
Area
Grand Rapids, MI
Vacancy
5.70%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
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%
$1,538,580
Cap Rate 7%
$1,098,986
Cap Rate 9%
$854,767
Alternative Uses
Best Use
Retail
$1.10M
$961.6K – $1.28M
NOI $76,929 @ 7.0% cap · market cap 8.10%
Second Best
Mixed Use
$837.0K
$732.4K – $976.5K
NOI $58,589 @ 7.0% cap · market cap 6.17%
Theoretical Best
Specialty Retail
$1.23M
$1.08M – $1.44M
NOI $86,212 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
912
Businesses Nearby
Explore this area
Business Placement
Demographics for 49504, MI
41,249
Population
18,830
Households
2.2
Avg Household Size
33
Median Age
39%
College-Educated
90%
High-School Grad
11.1 sq mi
ZIP Area
3,716
Density / Sq Mi
$68,326
Median Household Income
$41,138
Median Earnings
$1,145
Median Rent
$222,600
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?
Mixed-use property - Commercial space combines storefront exposure, office amenities, an upper-level apartment, and a detached garage.
Where is this mixed-use property located?
The property is located at 827 & 829 Bridge St NW Grand Rapids, MI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 5,307‑square‑foot mixed‑use property at 827 & 829 Bridge St NW; Commercial space with storefront windows, reception area, conference room, kitchen, communal workspaces, and recreational space; Apartment located above the commercial area
