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3290 Patterson Ave SE 369,000 SF Flex Building Grand Rapids, MI 49512 $50,078,571 ($135.71/SF) 7% Cap Rate
Investment Highlights
- Three-story office/engineering plus single-story manufacturing/warehouse.
- Fully sprinklered, modern life-safety systems.
- High clear heights (±27’–32’), robust power and mechanical systems.
- Comprehensive roof replacement with 20-year warranty.
Executive Summary
This is a mission-critical engineering and manufacturing facility, 100% leased to GE Aviation Systems LLC (a division of GE Aerospace, NYSE: GE), under a long-term net lease with annual rent escalations and limited landlord responsibilities. The ±369,000 SF building sits on ±42.17 acres, less than ten minutes from Gerald R. Ford International Airport, in a dynamic West Michigan employment corridor.
Property Facts
| Price | $50,078,571 | Lot Size | 37.86 AC |
| Price Per SF | $135.71 | Rentable Building Area | 369,000 SF |
| Sale Type | Investment | No. Stories | 3 |
| Cap Rate | 7% | Year Built | 1995 |
| Property Type | Flex | Tenancy | Single |
| Property Subtype | Flex Research & Development | Parking Ratio | 2.05/1,000 SF |
| Building Class | B | No. Dock-High Doors/Loading | 4 |
| Zoning | CM-I - Commercial Zoned District | ||
| Price | $50,078,571 |
| Price Per SF | $135.71 |
| Sale Type | Investment |
| Cap Rate | 7% |
| Property Type | Flex |
| Property Subtype | Flex Research & Development |
| Building Class | B |
| Lot Size | 37.86 AC |
| Rentable Building Area | 369,000 SF |
| No. Stories | 3 |
| Year Built | 1995 |
| Tenancy | Single |
| Parking Ratio | 2.05/1,000 SF |
| No. Dock-High Doors/Loading | 4 |
| Zoning | CM-I - Commercial Zoned District |
Amenities
- Bio-Tech/ Lab Space
- Signage
- Wheelchair Accessible
- Reception
- Storage Space
- Air Conditioning
- Breakroom
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Property Taxes
| Parcel Number | 41-19-18-300-041 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $13,686,500 |
Property Taxes
Parcel Number
41-19-18-300-041
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$13,686,500
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3290 Patterson Ave SE
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