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    1425 Michigan St Grand Rapids, MI 49503

    Sponsored
    For Sale
    $4,350,000

    28,955 SF Medical Office, $4.35M

    Property size:
    28,955 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This 28,955-square-foot Class C medical office building in Grand Rapids, MI, is situated on a 2.81-acre lot (122,316 sq ft) and offers 163 parking spaces—a 5.5/1000 parking ratio. Built in 1971, the single-story building is zoned SD·NOS and features excellent access to I-196 near the Medical Mile. Currently, two tenants occupy the building, with one space vacant from December 1, 2024. The vacant space, previously used as an emergency veterinary clinic, is adaptable for medical or general office use. The property benefits from a prominent location on Michigan Street NE, with signage visible from a busy thoroughfare and convenient public bus access. The asking price is $4,350,000, translating to $150.23 per square foot. The property's ample parking and convenient location make it an attractive investment opportunity. The APN is 411420476003.

    Property Features for 1425 Michigan St

    General Information

    Property type
    Medical offices
    Square Feet
    28,955 SF
    Class
    C
    Lot Size
    122,404 SF

    Building Details

    Year Built
    1971
    Buildings
    1
    Stories
    1

    HighLights

    • 2.81‑acre lot (122,316 sq ft)
    • Vacancy available December 1, 2024
    • 28,955 SF of office space
    • Last updated September 13, 2024
    • Single‑story, 28,955 SF building.
    • Building size: 28,955 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Thomas Pfennig Plastic Surgeon Theresa Bosworth Audiologist Nora Lignell Audiologist Robert Meleca Otolaryngologist Claudell Cox Otolaryngologist

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing 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
    -85.6336415
    Latitude
    42.9707045

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    FAQs

    What type of property is this?
    Medical office - 28,955 SF Medical Office, $4.35M
    Where is this medical office located?
    The property is located at 1425 Michigan St Grand Rapids, MI.
    What is the asking price?
    The asking price for this property is $4,350,000.
    What are key features of this property?
    This property features: 2.81-acre lot (122,316 sq ft); Vacancy available December 1, 2024; 28,955 SF of office space
    Request Owner's contact information
    1425 Michigan St 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
    1425 Michigan St Grand Rapids, MI 49503
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