Office Properties for sale in Grand Rapids offer a unique opportunity for investors to tap into the city's diverse economy and growing business sector. As the second-largest city in Michigan, Grand Rapids has established itself as a hub for industries such as health care, information technology, automotive, and consumer goods manufacturing. Office Properties in Grand Rapids can represent a range of investments, from Class A office spaces to smaller, more specialized properties. With a strong presence of leading office furniture companies, Grand Rapids is an attractive location for businesses and entrepreneurs alike. The city's amenities, including the Gerald R. Ford Presidential Museum, John Ball Zoological Garden, and various historic sites and museums, make it an appealing place to live and work. Additionally, Grand Rapids' craft beer culture and prominent educational institutions, such as Grand Valley State University and Ferris State University, contribute to its desirability.
With 27 Office Properties for sale in Grand Rapids, investors have a range of options to choose from. The average price per square foot is $203 USD, and the average size of these properties is 27,108 square feet, with the largest property spanning 168,000 square feet. The average cap rate for Office Properties in Grand Rapids is 7.5%. In addition to Office Properties, Grand Rapids also offers a range of other commercial properties, including Commercial Real Estate, Apartment Buildings, Shopping Centers, and Hotels. The city's diverse economy and strong infrastructure, including the Grand Rapids Police Department, The Rapid public bus system, and the Gerald R. Ford International Airport, make it an attractive location for businesses and investors. With its unique blend of cultural attractions, educational institutions, and economic opportunities, Grand Rapids is an ideal place to invest in Office Properties.
What is the average price per square foot for office properties in Grand Rapids?
The average price per square foot for office properties in Grand Rapids is $203 USD, with 27 available listings ranging in size from 27,108 square feet to 168,000 square feet, and an average cap rate of 7.5%.
What should I know about office property classifications (Class A, B, C)?
When searching for office properties for sale in Grand Rapids, it's essential to understand the classification system, which categorizes properties based on their quality, amenities, and location, to make an informed investment decision.
- Class A office properties are typically high-rise buildings with modern amenities, prime locations, and high-quality finishes, attracting top-tier tenants and commanding the highest rents.
- Class B office properties offer functional space with average amenities, decent locations, and standard finishes, appealing to a broader range of tenants and providing a balance between quality and affordability.
- Class C office properties are often older, less desirable buildings with limited amenities, located in less prominent areas, and may require renovation, but offer lower rents and potential for renovation or redevelopment.
