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    29 Peral St Grand Rapids, MI 49503

    For Lease
    $15 SF/Yr

    Prestigious Downtown Office Space Available

    Lot size:
    57,848 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    The Federal Square Building, a historic five-story mixed-use building constructed in 1893, offers exceptional executive office suites in the vibrant heart of Grand Rapids, Michigan. Located at 29 Pearl St. NW, this Kent County property boasts a total of 57,848 square feet, with multiple tenancy options available. Currently, 8,330 square feet of space is vacant, divisible into units ranging from a minimum of 1,600 square feet to a maximum contiguous space of 3,240 square feet. This prime location provides unparalleled convenience, situated within easy walking distance of numerous downtown amenities including a hair salon, state and federal courts, banks, a variety of restaurants and bars, coffee shops, and fitness centers. The building's central location makes it ideal for a diverse range of businesses, from startups and law firms to medical practices, staffing agencies, insurance companies, and other specialty businesses. The building's rich history and modern convenience combine to create an exceptional opportunity for businesses seeking a prestigious and functional office space in the heart of Grand Rapids' bustling downtown area. The zip code is 49503.

    Property Features for 29 Peral St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    57,848 SF
    Total Rate
    73515.17

    Building Details

    Year Built
    1893

    Unit(s) available at that property

    Space
    Suite 305
    Size
    1,600 SF
    Rate per SF
    $16
    Space
    Suite 414
    Size
    1,890 SF
    Rate per SF
    $15
    Space
    Suite 340
    Size
    3,240 SF
    Rate per SF
    $15
    Space
    Suite 325
    Size
    1,600 SF
    Rate per SF
    $16

    HighLights

    • Ideal space for a new business.
    • Prime location.
    • Abundant natural light from large windows.
    • Hardwood floors throughout.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.6692541
    Latitude
    42.9667019

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    FAQs

    What type of property is this?
    Office Property / Space - Prestigious Downtown Office Space Available
    Where is this office property / space located?
    The property is located at 29 Peral St Grand Rapids, MI.
    What is the lease rate?
    The lease rate is $15-$16 SF/Yr.
    What are key features of this property?
    This property features: Ideal space for a new business.; Prime location.; Abundant natural light from large windows.
    Request Owner's contact information
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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
    29 Peral St Grand Rapids, MI 49503
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