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150 Ann St NW 15,703 SF Retail Building Grand Rapids, MI 49505 $5,885,000 ($374.77/SF) 7.25% Cap Rate
Investment Highlights
- New 10 Year Absolute NNN Lease: Sale leaseback at closing with zero landlord responsibilities and 2.0% annual rent escalations.
- Integrated with Manufacturing Operations: Physically adjacent to MiEN’s manufacturing facility and future development site, reinforcing long-term occu
- Direct Riverfront Trail Access: Adjacent to a city funded trail extension connecting the property to Downtown Grand Rapids and Riverside Park.
- Corporate Headquarters Location: Primary operating location supporting leadership and core business functions.
- Recent Comprehensive Renovation: Full building redevelopment completed March 2026 with significant tenant capital invested.
- Prime Urban Infill Positioning: Located within the Monroe North and Medical Mile corridor with immediate access to US 131 and regional infrastructure.
Executive Summary
JET Industrial is pleased to present the sale leaseback of the newly redeveloped office headquarters
of MiEN Company® in Grand Rapids, Michigan. At closing, the seller will execute a new 10 year
Absolute NNN lease with 2.0% annual rent escalations, creating a stable income stream backed by
the company’s primary operating location.
Originally constructed in 1974, the property was fully redeveloped through a comprehensive
renovation completed in March 2026. The building reflects substantial tenant capital investment and
serves as the company’s central leadership and operational hub. The 15,800 SF office headquarters
is directly integrated with MiEN’s adjacent manufacturing facility and planned future development
site, reinforcing the operational importance of the location.
Founded in 2012, MiEN designs and manufactures furniture solutions for K–12 and higher education
institutions across North America. The Grand Rapids headquarters supports leadership, product
development, engineering, and customer operations that are central to the company’s continued
growth.
The property is positioned just northwest of Downtown Grand Rapids within the Monroe North and
Medical Mile corridor, an area experiencing continued public and private investment. The site offers
immediate access to US 131 and is less than 15 miles from Gerald R. Ford International Airport.
As part of the City of Grand Rapids’ GR Forward Master Plan, the final 0.75 mile segment of
the River Edges Trail between Leonard Street and Ann Street has received full funding and is
advancing toward construction. Upon completion, the property will have direct pedestrian and
bike connectivity to Downtown Grand Rapids, Riverside Park, and the 92 mile Fred Meijer White
Pine Trail system.
This offering presents investors with the opportunity to acquire a stabilized, mission critical
corporate headquarters asset featuring a long term Absolute NNN lease structure, contractual
rent growth, recent capital investment, and durable positioning within one of Grand Rapids’ most
actively evolving urban corridors.
To learn more about MiEN Company® visit: miencompany.com.
of MiEN Company® in Grand Rapids, Michigan. At closing, the seller will execute a new 10 year
Absolute NNN lease with 2.0% annual rent escalations, creating a stable income stream backed by
the company’s primary operating location.
Originally constructed in 1974, the property was fully redeveloped through a comprehensive
renovation completed in March 2026. The building reflects substantial tenant capital investment and
serves as the company’s central leadership and operational hub. The 15,800 SF office headquarters
is directly integrated with MiEN’s adjacent manufacturing facility and planned future development
site, reinforcing the operational importance of the location.
Founded in 2012, MiEN designs and manufactures furniture solutions for K–12 and higher education
institutions across North America. The Grand Rapids headquarters supports leadership, product
development, engineering, and customer operations that are central to the company’s continued
growth.
The property is positioned just northwest of Downtown Grand Rapids within the Monroe North and
Medical Mile corridor, an area experiencing continued public and private investment. The site offers
immediate access to US 131 and is less than 15 miles from Gerald R. Ford International Airport.
As part of the City of Grand Rapids’ GR Forward Master Plan, the final 0.75 mile segment of
the River Edges Trail between Leonard Street and Ann Street has received full funding and is
advancing toward construction. Upon completion, the property will have direct pedestrian and
bike connectivity to Downtown Grand Rapids, Riverside Park, and the 92 mile Fred Meijer White
Pine Trail system.
This offering presents investors with the opportunity to acquire a stabilized, mission critical
corporate headquarters asset featuring a long term Absolute NNN lease structure, contractual
rent growth, recent capital investment, and durable positioning within one of Grand Rapids’ most
actively evolving urban corridors.
To learn more about MiEN Company® visit: miencompany.com.
Data Room Click Here to Access
Property Facts
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Bank
Building Size
15,703 SF
Building Class
B
Year Built/Renovated
1978/2026
Price
$5,885,000
Price Per SF
$374.77
Cap Rate
7.25%
NOI
$426,663
Tenancy
Single
Building Height
2 Stories
Building FAR
0.55
Lot Size
0.65 AC
Zoning
TN-TCC - Transitional City Center
Parking
30 Spaces (1.91 Spaces per 1,000 SF Leased)
Frontage
190’ on Ann St
Amenities
- Pylon Sign
- Signalized Intersection
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- MiEN Company
- Manufacturing
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| MiEN Company | Manufacturing | - | - | - |
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 41-13-13-276-001 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $699,300 |
Property Taxes
Parcel Number
41-13-13-276-001
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$699,300
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Presented by
JET Industrial
150 Ann St NW
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