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Property profile

89 Ionia NW Ave Grand Rapids, MI 49503

OFF-MARKET
Commercial real estate
Property ID
US43-0512085
37,590 SF 0.14 ac lot Built 1916
Entity Owned 12-yr Hold Absentee Owner ~ Est. High Equity

Property summary

AI-generated overview

This exceptional office building, located at 89 Ionia Ave NW in Grand Rapids, Michigan's vibrant Central Business District, offers a unique leasing opportunity. Situated on the corner of Ionia and Fountain, this prominent location provides excellent visibility and accessibility. The building boasts a total of 37,590 square feet, with a significant amount of space currently vacant (25,420 sq ft). The flexible floor plan allows for various configurations, accommodating businesses seeking spaces ranging from 2,420 square feet to a maximum contiguous space of 12,604 square feet. Multiple tenancy options are available, making it ideal for companies of all sizes. The building has recently undergone a complete renovation on the upper floors (6th, 5th, and 4th), ensuring modern and updated amenities for tenants. The first, second, and third floors are currently available for lease. This prime location in Kent County, with a 49503 zip code, offers easy access to major transportation routes and a wealth of amenities. The building's impressive features and strategic location make it an ideal choice for businesses seeking a prestigious and functional workspace in the heart of Grand Rapids. Contact us today to schedule a viewing and explore the possibilities.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1916
Total area 37,590 SF
Lot 0.14 ac (6,316 SF)
Zoning code TN-CC
APN 41-13-25-286-009
UPID US43-0512085

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Law Firm
  • Law Firm Insurance Agency
  • Law Firm
  • Financial Advisor
  • Bank Credit Union

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$3.37M
Blend (final) Blend
$3.37M

Owner & transaction history

since 2014
7 recorded transactions
2016
Price N/A
2015
Price N/A
2014
Price N/A
2012
Price N/A
2010
$191,413
1969
Price N/A
1969
Price N/A

Zoning & alternative use

TN-CC · Grand Rapids, MI

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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