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2nd Floor 40 Monroe Center St NW 30,962 SF 87% Leased Retail Building Grand Rapids, MI 49503 $1,090,000 ($35.20/SF) 3.84% Cap Rate
Investment Highlights
- Second Floor office condos investment sale
- Surrounded by strong office and retail with downtown walkability on Monroe Center
- Ideal opportunity for an owner user investment vacant space
- Two leased condo units totalling 8,876 sf. The third 4,122 sf condo is available for an owner user.
- Multiple nearby parking options
Executive Summary
Located at one of downtown Grand Rapids' most prominent
corners, the historic Peck Building, located on Monroe Center,
sits at the center of the city's thriving Central Business District
— surrounded by top-tier dining, breweries, entertainment, and
retail.
The second floor is home to two well-established tenants,
SeyferthPR and Kolab LLC, providing a reliable & stablized solid
income foundationand is perfect for any owner/user buyer. A
third suite occupied by Bravo LT on a month-to-month
arrangement at below-market rents creates an immediate
opportunity — whether for an investor repositioning the asset
or an owner-user looking to plant roots in the heart of
downtown Grand Rapids.
corners, the historic Peck Building, located on Monroe Center,
sits at the center of the city's thriving Central Business District
— surrounded by top-tier dining, breweries, entertainment, and
retail.
The second floor is home to two well-established tenants,
SeyferthPR and Kolab LLC, providing a reliable & stablized solid
income foundationand is perfect for any owner/user buyer. A
third suite occupied by Bravo LT on a month-to-month
arrangement at below-market rents creates an immediate
opportunity — whether for an investor repositioning the asset
or an owner-user looking to plant roots in the heart of
downtown Grand Rapids.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
30,962 SF
Building Class
B
Year Built
1875
Price
$1,090,000
Price Per SF
$35.20
Cap Rate
3.84%
NOI
$41,852
Percent Leased
87%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
2.03
Lot Size
0.35 AC
Zoning
CBD-4 - Commercial Zoned District
Amenities
- Corner Lot
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Storage Space
- Air Conditioning
- Smoke Detector
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 200
- 4,122 SF
- Retail
- In-Line
- Now
| Space | Size | Space Use | Position | Available |
| 200 | 4,122 SF | Retail | In-Line | Now |
200
| Size |
| 4,122 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
Moderately walkable
70/100
Exceptionally drivable
90/100
Strong public transit
80/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $928,600 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$928,600
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2nd Floor | 40 Monroe Center St NW
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