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    41 Sheldon Ave Grand Rapids, MI 49503

    Sponsored
    For Sale
    $3,100,000

    Historic Office Building, 28,946 SF

    Property size:
    28,946 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This meticulously maintained, two-story office building in Grand Rapids, Michigan, presents a unique investment opportunity. Located at 41 Sheldon Ave SE, this 28,946 square foot property sits on a 0.36-acre lot and boasts a rich history, having been built in 1911. Recent renovations have seamlessly blended modern amenities with the building's historic charm, creating a bright and inviting atmosphere with abundant natural light. The main level offers approximately 13,500 square feet of versatile office space, while the lower level encompasses an impressive 15,500 square feet, including dedicated recording rooms, classrooms, and a remarkable 160-seat theater. A portion of the main floor has previously been utilized as an ArtPrize venue, highlighting its adaptability and prime location. The asking price is $3,100,000, translating to $107.10 per square foot. This property benefits from its excellent proximity to a variety of restaurants, hotels, and entertainment options in the heart of downtown Grand Rapids. The seller is open to considering long-term lease options for qualified tenants. This is a rare chance to acquire a substantial, well-maintained commercial property in a thriving urban setting. The property's size, unique features, and central location make it an ideal investment for a variety of uses.

    Property Features for 41 Sheldon Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    28,946 SF
    Lot Size
    15,682 SF

    Building Details

    Year Built
    1911
    Buildings
    1
    Stories
    2

    HighLights

    • $3,100,000 asking price for a 28,946 square foot office building.
    • Located at 41 Sheldon Ave SE, Grand Rapids, MI 49503.
    • Traditional office building, built in 1911, featuring two stories on a 0.36‑acre lot.
    • $107.10 per square foot.
    • Main level offers nearly 13,500 SF of office space; lower level includes 15,500 SF with recording rooms, classrooms, and a 160‑seat theater.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Spa & Massage Dental Office Hair Salon Law Firm Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.6668679
    Latitude
    42.9618294

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    FAQs

    What type of property is this?
    Office Property / Space - Historic Office Building, 28,946 SF
    Where is this office property / space located?
    The property is located at 41 Sheldon Ave Grand Rapids, MI.
    What is the asking price?
    The asking price for this property is $3,100,000.
    What are key features of this property?
    This property features: $3,100,000 asking price for a 28,946 square foot office building.; Located at 41 Sheldon Ave SE, Grand Rapids, MI 49503.; Traditional office building, built in 1911, featuring two stories on a 0.36-acre lot.
    (616) 242-5171
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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
    41 Sheldon Ave Grand Rapids, MI 49503
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