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    1050 36Th St Grand Rapids, MI 49508

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    1050 36Th St Grand Rapids, MI 49508

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    • Office properties & Spaces
    • 26,055 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ryder Last Mile / Courier Service / Postal Service
    • Ryder GRP / Warehouse & Storage
    • Columbian Logistics Network – Grand Rapids Distribution Center / Warehouse & Storage
    • Mxd Group / Postal Service / Courier Service
    • Mattress USA/Ryder Last Mile / Home Decor Store / Department Store

    Property Details for 1050 36Th St

    Property size
    26,055 SF
    Property type
    Office properties & Spaces

    Description

    This exceptional executive office suite in Kent County offers a rare opportunity to lease high-quality, flexible space. The property, located at 1050 36th Street SE, boasts a total of 26,055 square feet, currently entirely vacant and available for immediate occupancy. The space is divisible, with a minimum leasable area of 10,041 square feet and a maximum contiguous area of 16,014 square feet. The layout features a striking two-story reception area, a blend of private offices, collaborative conference rooms, and open workspaces ideal for modern business needs. The main level encompasses 16,014 square feet, while the second level, conveniently accessible by elevator, offers an additional 10,041 square feet. Building and monument signage opportunities are available for enhanced brand visibility. The property provides the convenience of ample free on-site parking, ensuring easy access for employees and clients. Its strategic location offers convenient access to US-131 and nearby amenities on 28th Street. For businesses requiring larger footprints, this office space can be combined with an additional 244,430 square feet of industrial space, providing unparalleled flexibility and expansion potential. This is a truly unique opportunity to secure a prime office location in a desirable Kent County setting.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.6401
    Latitude
    42.8977

    Comparable in this City

    • Value Estimation by Request
      1,160,575 SF

      1800-1900 44Th St

      Office properties & Spaces • 1,160,575 SF
      1800-1900 44Th St, Kentwood, MI 49508
      View Details
    • Value Estimation by Request
      116,057 SF

      1800-1900 44Th St

      Office properties & Spaces • 116,057 SF
      1800-1900 44Th St, Kentwood, MI 49508
      View Details
    • Value Estimation by Request
      0.83 Acres

      1800 44Th St

      Land • 116,057 SF
      1800 44Th St, Wyoming, MI 49508
      View Details
    • Value Estimation by Request

      3036 Eastern Ave

      Office properties & Spaces
      3036 Eastern Ave, Grand Rapids, MI 49508
      View Details
    • Value Estimation by Request
      0.83 Acres

      1800- 44Th St

      Land • 116,057 SF
      1800- 44Th St, Wyoming, MI 49508
      View Details
    • Value Estimation
      $630,000
      3,810 SF

      6690 Crossings SE Dr

      OFFICE BUILDING • 3,810 SF
      6690 Crossings SE Dr, Grand Rapids, MI 49508-7379
      View Details

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    Similar Nearby for Lease

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      97,167 SF Wyoming Office Building

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      Kentwood Office/Showroom Space Available

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    • Contact for pricing

      Retail Space in Grand Rapids

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    1050 36Th St
    Grand Rapids, MI 49508
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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