Mixed-Use Building with
For Sale
Contact for pricing
829 Bridge Street Northwest, Grand Rapids, MI 49504
Flexible commercial space combines retail or office functionality with an upper-level apartment and detached garage.
Property Size5,307 SF
Price / SF$179.01
Days on Market55
Property Features for 829 Bridge Street Northwest
General Information
Standard status
Active
Size
5,307 SF
Property subtype
Retail, Office
Zoning
TBA
Listing Agency:
Advantage Commercial Real Estate
(616) 970-8397
Listed By:
Trent Wieringa SIOR · License #MI 6501377143
Source:
Crexi
Added: Jul 7
Changed: Aug 29
Last Checked: Aug 29 at 6:26PM
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.
This 5,307-square-foot mixed-use property combines commercial space with an apartment above. The main level includes storefront windows, a reception area, conference room, kitchen, shared work areas, and recreational space. A detached garage provides storage and additional on-site parking. Zoning is listed as TBA.
The property is located at 829 Bridge Street Northwest in Grand Rapids, along the Bridge Street corridor. Bridge Street Market, Adobe, Butchers Union, New Holland Brewing, and other neighborhood businesses are less than half a mile away. The combination of commercial improvements, an upper-level apartment, and accessory garage space supports a range of retail, office, and creative-use configurations identified for the property.
The property is located at 829 Bridge Street Northwest in Grand Rapids, along the Bridge Street corridor. Bridge Street Market, Adobe, Butchers Union, New Holland Brewing, and other neighborhood businesses are less than half a mile away. The combination of commercial improvements, an upper-level apartment, and accessory garage space supports a range of retail, office, and creative-use configurations identified for the property.
Key Highlights
- 5,307‑square‑foot mixed‑use property with commercial space and an apartment above
- Storefront windows, reception area, conference room, kitchen, shared work areas, and recreational space
- Detached garage offers storage and additional on‑site parking
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial space combines retail or office functionality with an upper-level apartment and detached garage.
Where is this mixed-use property located?
The property is located at 829 Bridge Street Northwest 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 with commercial space and an apartment above; Storefront windows, reception area, conference room, kitchen, shared work areas, and recreational space; Detached garage offers storage and additional on‑site parking
