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Aslan Building 600 7th St NW 68,555 SF 100% Leased Office Building Grand Rapids, MI 49504 $2,100,000 ($30.63/SF) 8.12% Cap Rate
INVESTMENT HIGHLIGHTS
- 8.1% cap rate on existing NOI
- Secured long term parking with a 99-year parking agreement
- First floor of the 7th Street Lofts redevelopment
EXECUTIVE SUMMARY
Seward and 7th presents an exceptional investment opportunity with upside in the heart
of Grand Rapids' thriving northwest downtown corridor. Located on the prime first floor
of the historic 7th Street Lofts redevelopment, this investment property features two
established tenants: Chervon, a global power tool and outdoor equipment manufacturer,
and Roots Brew Shop, a community-focused coffee shop offering high-quality coffee, tea,
bagels, and artisan fare. The property also has one suite available for existing tenant
expansion or to lease to a third tenant.
of Grand Rapids' thriving northwest downtown corridor. Located on the prime first floor
of the historic 7th Street Lofts redevelopment, this investment property features two
established tenants: Chervon, a global power tool and outdoor equipment manufacturer,
and Roots Brew Shop, a community-focused coffee shop offering high-quality coffee, tea,
bagels, and artisan fare. The property also has one suite available for existing tenant
expansion or to lease to a third tenant.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
68,555 SF
Building Class
B
Year Built/Renovated
1920/2011
Price
$2,100,000
Price Per SF
$30.63
Cap Rate
8.12%
NOI
$170,566
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
30,222 SF
Building FAR
1.20
Lot Size
1.31 AC
Zoning
TCC - Industrial
Parking
19 Spaces (0.52 Spaces per 1,000 SF Leased)
1 1
Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 41-13-24-317-001 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $113,200 |
PROPERTY TAXES
Parcel Number
41-13-24-317-001
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$113,200
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Aslan Building | 600 7th St NW
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