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GRid70 70 Ionia Ave SW

34,923 SF 100% Leased Office Building Grand Rapids, MI 49503 £7,154,675 (£205/SF) 7.50% Net Initial Yield

Investment Highlights

  • 1005 leased Three-Tenant, Class A Building
  • Located in the Grand Rapids CBD adjacent to the live/work/play Studio Park Development
  • Interior and exterior of the building recently updated
  • Located across the street from the 12,500 seat Van Andel Arena
  • Minutes away from the soon-to-be developed 12,000 seat Grand Rapids Amphitheater located on the Grand River
  • Building comes with "rights" to 87 parking spaces

Executive Summary

Class A mixed use (office & retail) building located in the Entertainment District of Grand Rapids, Michigan - one of the fastest growing Midwestern cities in the United States. Located in close proximity to multiple entertainment venues and positioned among other properties with several AAA credit tenants. Area also includes a fast growing population of market rate multi family developments, restaurants and hotels.

Attachments

70 ionia OM

Property Facts

Sale Type
Investment
Property Type
Office
Building Size
34,923 SF
Building Class
A
Year Built
2004
Price
£7,154,675
Price Per SF
£205
Net Initial Yield
7.50%
NOI
£536,601
Percent Leased
100%
Tenancy
Multiple
Number of Floors
4
Typical Floor Size
8,625 SF
Slab to Slab
14 ft
Building FAR
3.49
Lot Size
0.23 AC
Zoning
CBD-4 - Commercial district zone

Amenities

  • Bus Route
  • Security System
1 of 1
70 Ionia Ave SW, Grand Rapids, MI - aerial map view
Walk Score ®
Walker's Paradise (97)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Numbers
Multiple
  • 41-13-25-442-004
  • 41-13-25-442-003
  • 41-13-25-442-002
  • 41-13-25-435-001
 Improvements Assessment £0
Land Assessment £0 Total Assessment £2,264,332

PROPERTY TAXES

Parcel Numbers
Multiple
  • 41-13-25-442-004
  • 41-13-25-442-003
  • 41-13-25-442-002
  • 41-13-25-435-001
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£2,264,332
(616) 254-0035

Contacts

  • Listing ID: 29179563

  • Date on Market: 03/08/2023

  • Last Updated:

  • Address: 70 Ionia Ave SW, Grand Rapids, MI 49503

The Office Property at 70 Ionia Ave SW, Grand Rapids, MI 49503 is currently available for sale. Contact Bradley Company for more information.

Office PROPERTIES IN NEARBY NEIGHBOURHOODS

Nearby Listings

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70 Ionia Ave SW, Grand Rapids, MI for sale Primary Photo- Image 1 of 5
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© 2024 CoStar Group

GRid70 | 70 Ionia Ave SW
(616) 254-0035 x

GRid70 | 70 Ionia Ave SW

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Drew Nelson

(616) 254-0035

(616) 254-0035

Chip Bowling

(616) 915-9080

(616) 915-9080

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