Realmo Analytics

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Property profile

171 Monroe Ave Northwest Grand Rapids, MI 49503

FOR LEASE
Commercial real estate
Property ID
US43-0609957
133,564 SF 0.46 ac lot Built 1984
Last sale Dec 2012
Entity Owned Owner of record is a legal entity (LLC / corporation). 13-yr Hold Held for 13 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

This exceptional office space, located at 171 Monroe Ave NW in the heart of Grand Rapids, Michigan's business district, offers a unique opportunity for businesses seeking a prestigious address. The building, constructed in 1980, boasts a total of 133,564 square feet and currently has 15,284 square feet of contiguous space immediately available for lease. The minimum leasable space is 10,000 square feet, providing flexibility for various business needs. The building features a beautifully…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2021

What does the county charge?
$309k
Tax billed · 2021
Assessed value · 2023$8.37M
Effective rate3.69%

Value estimate

· Nov 2026
$14.58M
$13.12M – $16.03M
Submarket $/SF estimate$14.58M
NOI build-up
Gross scheduled income$246k
Vacancy & credit loss−$55k
Operating expenses−$48k
NOI · 510,185.71% cap applied$143k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$104/SF
ZIP average, outlier-cleaned · 73 recorded sales of this use type
Observed band · Q1–Q3$55 – $152

Cap rate analysis

How does the asset earn?
510,185.71%
$143k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
TN-CC
JurisdictionKENT

Location intelligence

Which uses thrive at this corner?
Best fit: Auto Parts Store
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Auto Parts Store11.7
Barber Shop10.7
Veterinary Clinic10.7

Location

171 Monroe Ave Northwest Grand Rapids, MI 49503
County assessor Recorded deeds · 3 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 6 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
728 Mckendrick SW, Grand Rapids, MI 49503-8086 $1,245,000 Feb 2026 14,400 SF
619 College NE, Grand Rapids, MI 49503-1709 $250,000 Jul 2025 8,516 SF
501 Market SW, Grand Rapids, MI 49503 $2,430,000 May 2024 26,720 SF
60 Monroe Ctr NW, Grand Rapids, MI 49503-2916 $670,500 Mar 2024 16,933 SF
601 Eastern SE, Grand Rapids, MI 49503-5516 $350,000 Mar 2024 9,800 SF
444 Paris SE, Grand Rapids, MI 49503-5451 $625,000 Dec 2023 5,925 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Rey answers here. ChatGPT, Grok and Claude get the same data packet.

Includes: Price & PSF · Cap rate · Location · Zoning

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