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    55 Ionia Ave Grand Rapids, MI 49503

    Sponsored
    For Lease
    $10 SF/Yr

    Historic building, prime location, 7 spaces available

    Lot size:
    34,357 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    The Morton, a stunning Class A mixed-use building at 55 Ionia Ave NW in Grand Rapids, MI, 49503, offers 34,357 square feet of vacant retail space. This single, beautifully renovated (2015) building boasts a prime downtown location in Kent County, surrounded by thriving businesses including Class A offices, restaurants, hotels, and other retailers, such as the new Gazelle Sports. Seven spaces are available, ranging from a minimum of 2,113 square feet to a maximum contiguous space of 9,441 square feet. The building's historic character is complemented by modern amenities, including high ceilings and large windows, creating a unique and impressive environment. Ideal for businesses seeking a prestigious address in the heart of Grand Rapids' central business district (CBD). This exceptional property presents a rare opportunity to establish a presence in one of the city's most desirable locations. The building's mixed-use nature, incorporating luxury condos, apartments, and a boutique hotel, ensures a vibrant and active atmosphere. The property's location provides excellent visibility and accessibility, making it an attractive option for a variety of retail businesses. Don't miss this chance to secure your space in this iconic Grand Rapids landmark.

    Property Features for 55 Ionia Ave

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    34,357 SF
    Class
    A
    Total Rate
    28630.83

    Building Details

    Year Renovated
    2015
    Buildings
    1

    Unit(s) available at that property

    Space
    Lower Level
    Size
    6,806 SF
    Rate per SF
    $10
    Space
    First Floor Corner
    Size
    3,956 SF
    Rate per SF
    $16
    Space
    Entire First Floor
    Size
    9,441 SF
    Rate per SF
    $16
    Space
    2nd Floor Mezzanine
    Size
    3,184 SF
    Rate per SF
    $14
    Space
    1st Floor Partial
    Size
    5,485 SF
    Rate per SF
    $16
    Space
    1st Floor Monroe Center
    Size
    2,113 SF
    Rate per SF
    $16
    Space
    1st Floor Ionia
    Size
    3,372 SF
    Rate per SF
    $16

    HighLights

    • Available retail space: 2,113 - 9,441 SF in seven suites.
    • Prime downtown Grand Rapids, MI location in the Central Business District.
    • Class A, beautifully renovated (2015) mixed‑use building with historic character and modern amenities.
    • Multiple suite sizes available to accommodate various business needs.
    • Estimated 2022 CAMs: $5.54 PSF.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Morton Apartment Complex Morton Hotel Hotel 55 Ionia Partners ... Market Researcher

    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
    -85.6691325
    Latitude
    42.9649005

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    FAQs

    What type of property is this?
    Retail property - Historic building, prime location, 7 spaces available
    Where is this retail property located?
    The property is located at 55 Ionia Ave Grand Rapids, MI.
    What is the lease rate?
    The lease rate is $10-$16 SF/Yr.
    What are key features of this property?
    This property features: Available retail space: 2,113 - 9,441 SF in seven suites.; Prime downtown Grand Rapids, MI location in the Central Business District.; Class A, beautifully renovated (2015) mixed-use building with historic character and modern amenities.
    Request Owner's contact information
    55 Ionia Ave 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
    55 Ionia Ave Grand Rapids, MI 49503
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