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    85 Campau Ave Grand Rapids, MI 49503

    Sponsored
    For Lease
    $22 SF/Yr

    Prime CBD location, 10,133 SF available

    Lot size:
    33,060 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    This exceptional Grand Rapids commercial property, located at 85 Campau Ave NW, offers 10,133 square feet of immediately available, high-quality executive office space within a larger 33,060 square foot building. Situated in the vibrant Central Business District, this Class C building boasts a prime location with stunning views overlooking the Grand River. Built in 1903 and extensively renovated in 2008, the four-story structure features a predominantly open floor plan, complemented by several private offices and conference rooms, ideal for a variety of business needs. The property includes convenient attached surface and ramp parking, ensuring easy access for employees and clients. Enhance your company's image with prominent monument signage at the building's entrance. Employee well-being is prioritized with an on-site fitness room complete with locker rooms and showers. This professionally managed building sits on a 0.59-acre lot and is zoned TN-CC. The property's multiple tenancy structure allows for flexibility in lease terms and space configurations. Available spaces range from 905 square feet to the entire 10,133 square feet of vacant space. This is a rare opportunity to secure a well-appointed office space in a highly desirable location within Grand Rapids' thriving Central Business District. The Kent County property (APN: 41-13-25-258-012) offers a unique blend of historical charm and modern amenities.

    Property Features for 85 Campau Ave

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    33,060 SF
    Class
    C
    Total Rate
    63227.25

    Building Details

    Year Built/Renovated
    1903/2008
    Buildings
    1
    Stories
    4

    Unit(s) available at that property

    Space
    Suite 100
    Size
    10,133 SF
    Rate per SF
    $23
    Space
    Suite R302
    Size
    905 SF
    Rate per SF
    $22
    Space
    3rd Floor
    Size
    6,445 SF
    Rate per SF
    $22

    We can help!

    Listing Contact
    Jason Makowski, SIOR
    Jason Makowski, SIOR

    Learn more

    Property Insight Report

    HighLights

    • 10,133 SF of immediately available Class C office space in Grand Rapids' Central Business District.
    • Prime location with Grand River views in a 33,060 SF building, renovated in 2008.
    • Features open floor plan, private offices, and conference rooms.
    • Convenient attached surface and ramp parking, plus monument signage.
    • On‑site fitness center with locker rooms and showers.
    • 0.59‑acre lot, TN‑CC zoning, and multiple tenancy options.
    Property Profile Location Intelligence

    Current Use by Public Records

    Tanis Schultz Criminal Justice Attorney Melissa Meyers Family Law Attorney Ringler Associates Inc Insurance Agency Folkert John Insurance Agency Oxford Financial Group, ... Financial Planner

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Law Firm Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.6743885
    Latitude
    42.9652127

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    FAQs

    What type of property is this?
    Office Property Space - Prime CBD location, 10,133 SF available
    Where is this office property space located?
    The property is located at 85 Campau Ave Grand Rapids, MI.
    What is the lease rate?
    The lease rate is $22-$23 SF/Yr.
    What are key features of this property?
    This property features: 10,133 SF of immediately available Class C office space in Grand Rapids' Central Business District.; Prime location with Grand River views in a 33,060 SF building, renovated in 2008.; Features open floor plan, private offices, and conference rooms.
    Request Owner's contact information
    85 Campau Ave Grand Rapids, MI 49503
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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
    85 Campau Ave Grand Rapids, MI 49503
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    We can help!
    Listing Contact
    Jason Makowski, SIOR
    Jason Makowski, SIOR
    Real Estate License ID: MI
    Learn more
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