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55 Ionia Ave NW - The Morton 6,838 - 10,199 SF Retail Condo Units Offered at $589,000 - $1,189,000 Per Unit in Grand Rapids, MI 49503
Investment Highlights
- Offer unique, historic architecture, vaulted, ornate high ceilings with opportunity to restore or redevelop the space into a new use
Executive Summary
The Morton Retail – Historic Commercial Condo For Sale The Morton Retail Commercial Condo is a new offering for Sale on the popular Monroe Center Retail corridor in Downtown Grand Rapids. This property features a commercial condo that offers unique, historic architecture, vaulted, ornate high ceilings with opportunity to restore or redevelop the space into a new use. This offering includes a bonus mezzanine of 3,392 SF and a lower level bank vault of 6,807 SF. This could be a great opportunity to reimagine a range of uses from Retail to Restaurant to Showroom or Design Studio. The Morton was redeveloped in 2015 into luxury condos, apartments, a boutique hotel, office space and ground floor/ lower level retail. Monroe Center begins with Rosa Parks Circle, the Grand Rapids Art Museum, popular restaurants, Class A office buildings, hotels, and multiple retailers like Gazelle Sports and Shinola.
2 Units Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | APN/Parcel ID | 411325286024 |
| Sale Type | Investment |
| APN/Parcel ID | 411325286024 |
Description
The Morton Retail Commercial Condo is a new offering for Sale on the popular Monroe Center Retail corridor in Downtown Grand Rapids.
This property features a commercial condo that offers unique, historic architecture, vaulted, ornate high ceilings with opportunity to
restore or redevelop the space into a new use. This offering includes a bonus mezzanine level, 3,392 SF. This offering also could include
a bank vault on the lower level. This could be a great opportunity to reimagine a range of uses from Retail to Restaurant to Showroom
or Design Studio. The Morton was redeveloped in 2015 into luxury condos, apartments, a boutique hotel, office space and ground floor/
lower level retail. Monroe Center begins with Rosa Parks Circle, the Grand Rapids Art Museum, popular restaurants, Class A office buildings,
hotels, and multiple retailers like Gazelle Sports and Shinola.
Legal Address is 55 Ionia Ave NW, Grand Rapids, MI 49503.
This property features a commercial condo that offers unique, historic architecture, vaulted, ornate high ceilings with opportunity to
restore or redevelop the space into a new use. This offering includes a bonus mezzanine level, 3,392 SF. This offering also could include
a bank vault on the lower level. This could be a great opportunity to reimagine a range of uses from Retail to Restaurant to Showroom
or Design Studio. The Morton was redeveloped in 2015 into luxury condos, apartments, a boutique hotel, office space and ground floor/
lower level retail. Monroe Center begins with Rosa Parks Circle, the Grand Rapids Art Museum, popular restaurants, Class A office buildings,
hotels, and multiple retailers like Gazelle Sports and Shinola.
Legal Address is 55 Ionia Ave NW, Grand Rapids, MI 49503.
Sale Notes
he Morton Retail Commercial Condo is a new offering for Sale on the popular Monroe Center Retail corridor in Downtown Grand Rapids.
This property features a commercial condo that offers unique, historic architecture, vaulted, ornate high ceilings with opportunity to
restore or redevelop the space into a new use. This offering includes a bonus mezzanine level, 3,392 SF. This offering also could include
a bank vault on the lower level. This could be a great opportunity to reimagine a range of uses from Retail to Restaurant to Showroom
or Design Studio. The Morton was redeveloped in 2015 into luxury condos, apartments, a boutique hotel, office space and ground floor/
lower level retail. Monroe Center begins with Rosa Parks Circle, the Grand Rapids Art Museum, popular restaurants, Class A office buildings,
hotels, and multiple retailers like Gazelle Sports and Shinola.
Legal Address is 55 Ionia Ave NW, Grand Rapids, MI 49503.
This property features a commercial condo that offers unique, historic architecture, vaulted, ornate high ceilings with opportunity to
restore or redevelop the space into a new use. This offering includes a bonus mezzanine level, 3,392 SF. This offering also could include
a bank vault on the lower level. This could be a great opportunity to reimagine a range of uses from Retail to Restaurant to Showroom
or Design Studio. The Morton was redeveloped in 2015 into luxury condos, apartments, a boutique hotel, office space and ground floor/
lower level retail. Monroe Center begins with Rosa Parks Circle, the Grand Rapids Art Museum, popular restaurants, Class A office buildings,
hotels, and multiple retailers like Gazelle Sports and Shinola.
Legal Address is 55 Ionia Ave NW, Grand Rapids, MI 49503.
| Sale Type | Investment |
| Sale Type | Investment |
Sale Notes
The Morton Retail Commercial Condo is a new offering for Sale on the popular Monroe Center Retail corridor in Downtown Grand Rapids.
This property features a commercial condo that offers unique, historic architecture, vaulted, ornate high ceilings with opportunity to
restore or redevelop the space into a new use. This offering includes a bonus mezzanine of 3,392 SF and a lower level bank vault of 6,807
SF. This could be a great opportunity to reimagine a range of uses from Retail to Restaurant to Showroom or Design Studio. The Morton
was redeveloped in 2015 into luxury condos, apartments, a boutique hotel, office space and ground floor/ lower level retail. Monroe Center
begins with Rosa Parks Circle, the Grand Rapids Art Museum, popular restaurants, Class A office buildings, hotels, and multiple retailers
like Gazelle Sports and Shinola.
This property features a commercial condo that offers unique, historic architecture, vaulted, ornate high ceilings with opportunity to
restore or redevelop the space into a new use. This offering includes a bonus mezzanine of 3,392 SF and a lower level bank vault of 6,807
SF. This could be a great opportunity to reimagine a range of uses from Retail to Restaurant to Showroom or Design Studio. The Morton
was redeveloped in 2015 into luxury condos, apartments, a boutique hotel, office space and ground floor/ lower level retail. Monroe Center
begins with Rosa Parks Circle, the Grand Rapids Art Museum, popular restaurants, Class A office buildings, hotels, and multiple retailers
like Gazelle Sports and Shinola.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 1 | 6,838 SF | Retail | $589,000 ($86.14/SF) | - |
| Unit LL + MEZZ | 10,199 SF | Retail | $1,189,000 ($116.58/SF) | - |
Unit 1
| Unit Size |
| 6,838 SF |
| Condo Use |
| Retail |
| Price |
| $589,000 ($86.14/SF) |
| NOI |
| - |
Unit LL + MEZZ
| Unit Size |
| 10,199 SF |
| Condo Use |
| Retail |
| Price |
| $1,189,000 ($116.58/SF) |
| NOI |
| - |
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Unit 1
| Unit Size | 6,838 SF |
| Condo Use | Retail |
| Price | $589,000 ($86.14/SF) |
| NOI | - |
| Sale Type | Investment |
| APN/Parcel ID | 411325286024 |
| Description | |
| The Morton Retail Commercial Condo is a new offering for Sale on the popular Monroe Center Retail corridor in Downtown Grand Rapids. <br> This property features a commercial condo that offers unique, historic architecture, vaulted, ornate high ceilings with opportunity to <br> restore or redevelop the space into a new use. This offering includes a bonus mezzanine level, 3,392 SF. This offering also could include <br> a bank vault on the lower level. This could be a great opportunity to reimagine a range of uses from Retail to Restaurant to Showroom <br> or Design Studio. The Morton was redeveloped in 2015 into luxury condos, apartments, a boutique hotel, office space and ground floor/ <br> lower level retail. Monroe Center begins with Rosa Parks Circle, the Grand Rapids Art Museum, popular restaurants, Class A office buildings, <br> hotels, and multiple retailers like Gazelle Sports and Shinola.<br> Legal Address is 55 Ionia Ave NW, Grand Rapids, MI 49503.</li></ul> | |
| Sale Notes | |
| he Morton Retail Commercial Condo is a new offering for Sale on the popular Monroe Center Retail corridor in Downtown Grand Rapids. <br> This property features a commercial condo that offers unique, historic architecture, vaulted, ornate high ceilings with opportunity to <br> restore or redevelop the space into a new use. This offering includes a bonus mezzanine level, 3,392 SF. This offering also could include <br> a bank vault on the lower level. This could be a great opportunity to reimagine a range of uses from Retail to Restaurant to Showroom <br> or Design Studio. The Morton was redeveloped in 2015 into luxury condos, apartments, a boutique hotel, office space and ground floor/ <br> lower level retail. Monroe Center begins with Rosa Parks Circle, the Grand Rapids Art Museum, popular restaurants, Class A office buildings, <br> hotels, and multiple retailers like Gazelle Sports and Shinola.<br> Legal Address is 55 Ionia Ave NW, Grand Rapids, MI 49503.</li></ul> |
1 of 0
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Unit LL + MEZZ
| Unit Size | 10,199 SF |
| Condo Use | Retail |
| Price | $1,189,000 ($116.58/SF) |
| NOI | - |
| Sale Type | Investment |
| Sale Notes | |
| The Morton Retail Commercial Condo is a new offering for Sale on the popular Monroe Center Retail corridor in Downtown Grand Rapids.<br> This property features a commercial condo that offers unique, historic architecture, vaulted, ornate high ceilings with opportunity to<br> restore or redevelop the space into a new use. This offering includes a bonus mezzanine of 3,392 SF and a lower level bank vault of 6,807<br> SF. This could be a great opportunity to reimagine a range of uses from Retail to Restaurant to Showroom or Design Studio. The Morton<br> was redeveloped in 2015 into luxury condos, apartments, a boutique hotel, office space and ground floor/ lower level retail. Monroe Center<br> begins with Rosa Parks Circle, the Grand Rapids Art Museum, popular restaurants, Class A office buildings, hotels, and multiple retailers<br> like Gazelle Sports and Shinola.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 183,375 SF | Floors | 13 |
| Property Type | Multifamily | Typical Floor Size | 14,105 SF |
| Property Subtype | Apartment | Year Built | 1923 |
| Building Class | C | Lot Size | 0.36 AC |
| Zoning | C-3A - Commercial | ||
| Total Building Size | 183,375 SF |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Floors | 13 |
| Typical Floor Size | 14,105 SF |
| Year Built | 1923 |
| Lot Size | 0.36 AC |
| Zoning | C-3A - Commercial |
Amenities
Site Amenities
- Courtyard
- Fitness Center
- Property Manager on Site
- Dry Cleaning Service
- Package Service
- Bicycle Storage
- Elevator
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 12 | - | 472 |
| 1+1 | 48 | - | 609 - 690 |
| 2+2 | 11 | - | 899 - 2,117 |
Moderately walkable
70/100
Exceptionally drivable
90/100
Good public transit
70/100
Moderately bikeable
60/100
Contacts
-
Hillary Taatjes Woznick -
Todd Leinberger -
Doug Taatjes -
NAI Wisinski of West Michigan
1 of 7
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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55 Ionia Ave NW - The Morton
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