2000 43rd St SE | Grand Rapids, MI 49508
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2000 43rd St SE
Grand Rapids, MI 49508
Executive Professional Building · Office Property For Sale
Executive Summary
NAI Wisinski of West Michigan, as exclusive agent for the Owner, is pleased to offer 2000 43rd Street SE, a 79% leased medical/dental office building in the East castle Park of Grand Rapids, to the market for purchase. This two-story, 16,525 SF quality medical/dental building is on 1.96 acres of two parcels that are located off 44th Street SE, directly between Breton Rd. SE and Kalamazoo Ave SE in Grand Rapids. Built in 1988, the building is located in an area zoned SD-NOS (Neighborhood Office) and there are four strong dental tenants that occupy the building. Three of these four tenants will execute five year triple net leases at close. The property is being offered to the market at a cap rate of 8.44% based on 2024 projected NOI of $219,413. Asking price is $2,600,000. Rent roll available upon receipt of executed NDA.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
16,525 SF
Building Class
B
Year Built
1988
Price
$3,737,760 CAD
Price Per SF
$226 CAD
Cap Rate
8.44%
NOI
$315,428 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
8,263 SF
Slab To Slab
9’
Building FAR
0.19
Lot Size
1.96 AC
Zoning
SD-NOS - Neighborhood Office
Parking
75 Spaces (4.54 Spaces per 1,000 SF Leased)
Amenities
- Signage
PROPERTY TAXES
Parcel Number | 41-18-21-451-012 | Improvements Assessment | $0 CAD |
Land Assessment | $0 CAD | Total Assessment | $1,451,245 CAD |
PROPERTY TAXES
Parcel Number
41-18-21-451-012
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,451,245 CAD
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