Office Building

Office for Sale
Catylist Listing ID: 30761467
Property Subtypes: Mixed Use, Office Building
Condo? Yes
Building Size (RSF): 2,784 SF
Gross Building Area: See Agent
Sale Price: $250,000
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/11/2022

Overview / Comments

Great location near US31. Well maintained income generating office condo for sale with 2 lease spaces inside. Each lease space includes a kitchenette, bathroom, office space, & separate entrances off common vestibule. Currently, 1 space is leased w/ ~2 yrs remaining on a 3 yr lease. The 2nd space is available for lease. Existing leases survive under new ownership. RMU zoning allows for mixed use residential/comm'l shared space.


Finance Data Year 2020
Real Estate Taxes - Annual($) $5,508 (Annual)
Assessed Value - Total($) $127,300 (Annual)

Current Tenants

Tenant Business Name Selena
Is Renting? Yes
SF of Space Occupied 1,424 SF
Current Rent $1,563 PSF (Annual)
Lease Expiration 8/2023
Tenant Business Name To be determined.
SF of Space Occupied 1,360 SF

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Ottawa
Tax ID/APN: 70-16-33-205-702
Is Condo?: Yes
Property Located Between: 16th and US 31
Property Visibility: Good
Highway Access: Yes super close to US31
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 2,784 SF
Year Built: 2004
Construction/Siding: Vinyl Siding, Wood Frame
Parking Type: Surface
Total Parking Spaces: 11
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Other
Internet Access: Cable
Water Service: Municipal
Sewer Type: Municipal
Legal Description: UNIT 2 CENTURY LANE OFFICE CONDO SEC 33 T5N R15W 2/2006 FROM 70-16-33-205-006

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,365 56,334 92,120
Median Age: 30.8 35.15 35.82
Households: 3,647 20,472 33,333


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