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Property profile & analytics
FOR SALE
Office buildings
2550 Eastern #106 Grand Rapids, MI 49507
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US43-1933478
For Sale
1 / 12
$231,000
2550 Eastern #106, Grand Rapids, MI 49507
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1940
Total area
1,587 SF
Lot
2.08 ac (90,692 SF)
Zoning code
MCN-LDR
APN
41-18-08-301-027
UPID
US43-1933478
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Iccf Nonprofit Housing Corporation · 2 yrs held
Iccf Nonprofit Housing Corporation
since 2024
7 recorded transactions
Zoning & alternative use
MCN-LDR · Grand Rapids, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Grand Rapids submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grand Rapids submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Tax billed
$14,394
Tax year 2021
Assessed value
$410,200
Assessed 2024
Previous assessed
$344,700
+19.0% YoY
Effective rate
3.51%
On assessed value
Total market value
$820,400
Applied tax rate
51.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1940
Heating
NONE
Buildings
1
Stories
1
Total area
1,587 SF
Lot
2.08 ac (90,692 SF)
Zoning code
MCN-LDR
APN
41-18-08-301-027
UPID
US43-1933478
Jurisdiction
KENT
Zoning & alternative use
MCN-LDR · Grand Rapids, MI
Zoning MCN-LDR · permitted uses
MCN-LDR · Grand Rapids, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grand Rapids. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1940
Heating
NONE
Stories
1
Buildings
1
Lot
2.08 ac
Current owner
From public records · entity-resolved
Iccf Nonprofit Housing Corporation
Entity
Mailing address
415 MARTIN LUTHER KING JR ST SE STE #100, GRAND RAPIDS, MI 49507-1275
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2025
—
Lorena Aguayo Marquez
—
Deed
related
$224,070 · Mercantile Bank
Nov 18, 2025
—
Elizabeth Erin Vanderplaats
—
Deed
related
$131,000 · Lake Michigan Cu
Nov 14, 2025
—
Courtney Arnold
—
Deed
related
$108,000 · Lake Michigan Cu
Nov 13, 2025
—
Vida Wilson
—
Deed
related
$131,500 · Lake Michigan Cu
Oct 22, 2025
—
Beth Weaver
—
Deed
related
$181,000 · Fifth Third Bank NA
Sep 23, 2024
—
Iccf Nonprofit Housing Corporation
—
Deed
related
$100,000 · City Of Grands Rapids
Jul 11, 2024
—
Iccf Nonprofit Housing Corporation
The Seymour Developer LLC
Warranty Deed
$4,000,000 · Iff
Mar 13, 2020
—
Inner City Christian F Ederati
Tabernacle Community Church
Warranty Deed
related
—
Oct 29, 2019
—
Tabernacle Community Church
Tabernacle Community Church
Quit Claim Deed
related
—
Apr 10, 2017
—
City Of Grand Rapids
Tabernacle Community Church
Quit Claim Deed
related
—
Dec 23, 2009
—
Tabernacle Community Church
Tabernacle Holding LLC
Quit Claim Deed
related
—
Jul 26, 2007
—
Tabernacle Holding LLC
Grand Rapids Christian School
Warranty Deed
$630,000 · Grand Rapids Christian Sch Ass
Jun 4, 2004
—
Fifth Third Bank
Grand Rapids Christian School
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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