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Grand Park Centre

Off-Market

28 West Adams Avenue, Detroit, MI 48226

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  • Property Type Office - General Office
  • Property Size 177,000 Sqft
  • Lot Size 0.18 Acre
  • Parking Spaces Avail. 177
  • Parking Ratio 1.00/ 1,000 SF
  • Property Tenancy Multi-Tenant
  • Building Class B
  • Year Built 1922

Location

  • City Detroit, MI
  • Neighborhood Downtown Detroit
  • Zip Code 48226
  • Market Detroit

Contacts

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Owner

  • True Owner
  • Registered Owner

Tenants

Suite Name Tenant Leased
Space
Rent Price Lease
Type
Space
Type
Lease Term
370 17th Street #5500 MERRILL, (303) 446-5500 23,824 SF $23/SF/YR Modified
Gross
General
Office
11/01/2014-
N/A
370 17th Street
#6000
Morrison & Foerster,
(303) 592-1500
10,710 SF $26/SF/YR Full
Service
General
Office
08/01/2013-
07/31/2023
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Documents

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Sales

  • Purchase Date 04 May, 2016
  • Purchase Price $10,000,000
  • Arm's Length
  • Buyer Name

Mortgages

  • Current Lender
  • Loan Amount
  • Loan Origination Date

Market Trends

Average Actual Rents in Detroit

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent
Net Rent
$44.3/SF/YR
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
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Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
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Asking Rents in Detroit Office Market

Office rental rates are based on aggregated data of asking rates.

  • 2020 Avg. Asking Rent $28.65
  • 2020 Office Vacancy Rate 16.80 %
  • 2020 Office Completions (Sqft) 63,500
View more Detroit market trends

Tax

  • Property Tax in 2018 $72,053
  • Market Value $1,890,400
  • Assessed Value $1,890,400

Find more tax info, including assessment history and abatements, on CommercialEdge

Frequently Asked Questions

What is the total square footage of Grand Park Centre?

Grand Park Centre totals 177,000 square feet.

When was this property built?

Grand Park Centre was built in 1922.

When was Grand Park Centre last sold?

Grand Park Centre was last sold on 04 May, 2016.

What was the last purchase price for Grand Park Centre?

Grand Park Centre was last sold for $10,000,000.

What is the property tax for Grand Park Centre?

The property tax for Grand Park Centre in 2018 was $72,053.

What is the market value for Grand Park Centre?

The market value for Grand Park Centre in 2018 was $1,890,400.

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