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Executive Summary

86 Monroe Center is a fully leased, historic Class A office property located in the heart of downtown Grand Rapids, Michigan. The eight-story, 104,419-square-foot asset is prominently situated along the Monroe Center pedestrian corridor and serves as the regional headquarters of Blue Cross Blue Shield of Michigan, the state’s dominant health insurer and an investment-grade credit tenant. 
With long-term occupancy, significant tenant investment in the facility, and a premier downtown location, the property offers investors stable cash flow backed by a high-credit tenant within one of Michigan’s most dynamic urban markets.

Property Facts

Sale Type
Investment
Property Type
Office
Building Size
109,619 SF
Building Class
A
Year Built/Renovated
1916/2014
Price
$21,700,000
Price Per SF
$197.96
Cap Rate
7.64%
NOI
$1,657,872
Tenancy
Single
Building Height
8 Stories
Typical Floor Size
13,702 SF
Building FAR
6.14
Lot Size
0.41 AC
Zoning
CC - Commercial

Amenities

  • Bus Line

Sustainability

LEED Certified
Certified
LEED certification is a globally recognized symbol of sustainability achievement.

Sustainability

LEED Certification Developed by the U.S. Green Building Council (USGBC), the Leadership in Energy and Environmental Design (LEED) is a green building certification program focused on the design, construction, operation, and maintenance of green buildings, homes, and neighborhoods, which aims to help building owners and operators be environmentally responsible and use resources efficiently. LEED certification is a globally recognized symbol of sustainability achievement and leadership. To achieve LEED certification, a project earns points by adhering to prerequisites and credits that address carbon, energy, water, waste, transportation, materials, health and indoor environmental quality. Projects go through a verification and review process and are awarded points that correspond to a level of LEED certification: Platinum (80+ points) Gold (60-79 points) Silver (50-59 points) Certified (40-49 points)

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease End
  • Finance and Insurance
  • -
  • -
  • Jul 2024

Anthem Blue Cross Blue Shield traces its roots to 1944, when the business that later became Anthem began serving members in the health benefits market. The company is now part of Elevance Health's family of brands and operates as a Blue Cross Blue Shield licensee, offering commercial, Medicare, Medicaid, dental, vision, pharmacy, and behavioral health plans. Anthem provides digital member tools and employer-focused coverage options, reflecting a shift beyond traditional health insurance into broader health services. The company continues to serve members and employers through a national platform while maintaining the Anthem Blue Cross Blue Shield brand.

  • Finance and Insurance
  • -
  • -
  • -

MSU Federal Credit Union (MSUFCU), founded in 1937, was created to provide a safe place for members to borrow and save money. Over the years, it has grown into a trusted financial institution focused on helping members achieve financial freedom and security. MSUFCU supports its members through major life milestones, from buying cars and homes to starting businesses and saving for the future. Guided by a mission to provide superior service, the credit union emphasizes integrity, community involvement, growth, and inclusion. Through the MSUFCU Desk Drawer Foundation, it enhances communities with philanthropic efforts in entrepreneurship, financial education, stable housing, the arts, and youth empowerment. Dedicated to making a positive impact, MSUFCU continues to build strong relationships with members, offering financial solutions and education that foster stability, growth, and opportunity.

Tenant Industry SF Occupied Rent/SF Lease End
Finance and Insurance - - Jul 2024
Finance and Insurance - - -
Very walkable
80/100
Exceptionally drivable
90/100
Strong public transit
80/100
Moderately bikeable
60/100

Property Taxes

Property Taxes

Parcel Numbers
Multiple
  • 41-13-25-286-003
  • 41-13-25-286-008
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$5,555,300
  • Listing ID: 41373242

  • Date on Market: 7/21/2026

  • Last Updated:

  • Address: 86 Monroe Center St NW, Grand Rapids, MI 49503

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