2000 43Rd StGrand Rapids, MI 49508

Property Details for 2000 43Rd St

Year built

1988

Lot size

1.67 AC

Property size (Sq ft)

9,576 SF

Zone code

SD-NOS

Property type

Commercial real estate

APN

41-18-21-451-012

APU

411821451012

Description

This exceptional investment opportunity presents a two-story, 16,525-square-foot medical office building situated on a 1.96-acre lot in Grand Rapids, Michigan. The property, located at 2000 43rd St SE, boasts a desirable location in the Eastcastle Park area, conveniently positioned between Breton Rd. SE and Kalamazoo Ave SE. Built in 1988, the Class C building features 75 parking spaces and is currently 79% occupied by four dental tenants. Three of these tenants will be signing five-year triple-net leases upon closing. The property is zoned SD-NOS (Neighborhood Office), offering stability and potential for future growth. The asking price is $2,600,000, representing a compelling 8.44% capitalization rate based on a projected 2024 Net Operating Income (NOI) of $219,413. The price per square foot is $157.34. Detailed financial information, including the rent roll, is available upon request. This multi-tenant property offers a strong cash flow and significant upside potential for the discerning investor. The property consists of two parcels with APNs 41-18-21-399-001 and 41-18-21-451-012. The lease type is modified.

• Alternative Use

  Use

  Valuation

  Residential

  $685,688

  Hospitality

  $628,086

  Educational

  $522,560

  Medical

  $540,532

  Retail

  $812,871

Location Insight

City

Grand Rapids

County

Kent

State

Michigan

Latitude

42.8853

Longitude

-85.6157

CBSA code

24340

CBSA name

GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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