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    161 Ottawa Ave Grand Rapids, MI 49503

    For Lease
    $12 SF/Yr

    Prestigious Downtown Office Space, Multiple Sizes Available

    Lot size:
    400,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    The Waters Center, located at 161 Ottawa Ave NW in Grand Rapids, MI 49503, offers a unique opportunity to lease executive office space in a historic building. This prestigious location boasts 400,000 square feet of total office space, with a variety of suite sizes and configurations available to accommodate businesses of all sizes. Currently, there are 20,617 square feet of vacant space, with minimum divisible units starting at 120 square feet and maximum contiguous space reaching 4,647 square feet. The building, originally constructed in 1898, underwent extensive renovations in 2015, ensuring modern amenities within a classic setting. The Waters Center provides ample parking with 650 spaces available for tenants and their guests. Situated in the heart of downtown Grand Rapids, Kent County, this property offers unparalleled access to the city's vibrant business district and its many amenities. The building's prime location and flexible space options make it an ideal choice for businesses seeking a prestigious and convenient address. This executive office space provides a blend of historical charm and modern functionality, creating an exceptional work environment. Contact us to learn more about the available spaces and explore how this property can meet your business needs.

    Property Features for 161 Ottawa Ave

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    400,000 SF
    Total Rate
    416666.67

    Building Details

    Year Built/Renovated
    1898/2015

    Unit(s) available at that property

    Space
    412
    Size
    1,204 SF
    Rate per SF
    $19
    Space
    302
    Size
    758 SF
    Rate per SF
    $17
    Space
    205
    Size
    1,398 SF
    Rate per SF
    $17
    Space
    203
    Size
    2,655 SF
    Rate per SF
    $22
    Space
    118-M
    Size
    4,647 SF
    Rate per SF
    $12
    Space
    207
    Size
    1,379 SF
    Rate per SF
    $12
    Space
    209
    Size
    239 SF
    Rate per SF
    $17
    Space
    403B
    Size
    120 SF
    Rate per SF
    $9,600
    Space
    Suite 408
    Size
    2,220 SF
    Rate per SF
    $18
    Space
    Suite 118 - OM
    Size
    9,420 SF
    Rate per SF
    $18
    Space
    403C
    Size
    120 SF
    Rate per SF
    $6,000
    Space
    Suite 308
    Size
    2,092 SF
    Rate per SF
    $24

    HighLights

    • On‑site ownership, management, and dedicated maintenance staff.
    • 650‑space parking garage with enclosed walkway.
    • Connected to Homewood Suites hotel for guest accommodations.
    • Access to full‑service fitness center with showers (negotiable).
    • Full‑service bar operated by Homewood Suites.
    • Full‑service, covered, three‑season rooftop bar with two fireplaces and retractable roof.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    US Customs Services Federal Government Office Leonard Richard G Attorney kreativeMotive Market Researcher West Michigan District ... Association / Organization Donald Vanostenberg, PHD Psychologist

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.6706402
    Latitude
    42.966765

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    FAQs

    What type of property is this?
    Office space - Prestigious Downtown Office Space, Multiple Sizes Available
    Where is this office space located?
    The property is located at 161 Ottawa Ave Grand Rapids, MI.
    What is the lease rate?
    The lease rate is $12-$9,600 SF/Yr.
    What are key features of this property?
    This property features: On-site ownership, management, and dedicated maintenance staff.; 650-space parking garage with enclosed walkway.; Connected to Homewood Suites hotel for guest accommodations.
    Request Owner's contact information
    161 Ottawa Ave Grand Rapids, MI 49503
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    Grand Rapids, MI 49503
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    Realmo Value Estimation

    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.

    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.

    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
    161 Ottawa Ave Grand Rapids, MI 49503
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