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1515 Madison Avenue SE

Off-Market

1515 Madison Avenue SE, Grand Rapids, MI 49507

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  • Property Type Office - Creative Office
  • Property Size 60,240 SF
  • Lot Size 1.03 Acre
  • Property Tenancy Single Tenant
  • Building Class C
  • Year Built 1919

Location

  • Walk Score ® Very Walkable (80)
  • Transit Score ® Some Transit (40)
  • Bike Score ® Bikeable (56)
Powered by Walk Score ®
  • City Grand Rapids, MI
  • Neighborhood Southeast Grand Rapids
  • Zip Code 49507
  • Market Grand Rapids

Points of Interest

Grand Rapids

1.51 miles

Exxon

3.95 miles

Shell

4.08 miles

Shell

4.85 miles

Marathon

4.92 miles

Marathon

5.07 miles

BP

5.78 miles

Citgo

5.93 miles

Marathon

6.34 miles

ChargePoint

6.51 miles

Walker, MI Supercharger

6.54 miles

Wege Parking Ramp

1.52 miles

Congress Elementary Parking Lot

1.86 miles

Plymouth Lot

2.28 miles

Lake Michigan Academy's Parking

2.71 miles

Overflow Parking

2.71 miles

School Bus Parking

7.09 miles

Menard's Parking

7.28 miles

Parking Lot J

8.85 miles

Early Childhood Center Parking Lot

9.22 miles

Hager Park Parking

9.80 miles

The Brauhaus Inn

1.03 miles

Budgetel Grand Rapids

1.60 miles

Best Western Executive Inn & Suites

1.66 miles

Days Inn & Suites

1.67 miles

JW Marriott Grand Rapids

2.19 miles

Home

3.55 miles

Super 8 by Wyndham Wyoming/Grand Rapids Area

3.71 miles

Country Inn & Suites

4.29 miles

Knights Inn Grand Rapids East

4.32 miles

Wyndham Garden Grand Rapids Airport

5.44 miles

McDonald's

1.60 miles

Matchbox Diner & Drinks

1.91 miles

Jimmy John's

1.94 miles

McDonald's

3.48 miles

McDonald's

3.90 miles

Outback Steakhouse

4.46 miles

The Pita House

4.52 miles

Red Lobster

4.77 miles

Fazoli's

5.33 miles

Red Lobster

5.88 miles

Alger Middle School

1.28 miles

Sylvan School

1.62 miles

Thomas M. Cooley Law School

1.76 miles

Immaculate Heart of Mary School

1.84 miles

Grace Christian University

2.00 miles

Grace Christian University

2.01 miles

Kendall College of Art and Design

2.14 miles

Grand Rapids Community College

2.21 miles

Grand Valley State University - Pew Campus

2.23 miles

Lakeside Elementary School

2.45 miles

Kelloggsville Early Childhood Learning Center

3.83 miles

Kenowa Hills Early Childhood Center

7.09 miles

Contacts

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Owner

  • True Owner
  • Registered Owner

Brokers

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Documents

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Sales

  • Purchase Date 07 Oct, 2015
  • Purchase Price
  • Arm's Length True
  • Buyer Name

Market Trends

Average Actual Rents in Grand Rapids

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%
Unlock on CommercialEdge

Asking Rents in Grand Rapids Office Market

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

  • 2021 Avg. Asking Rent $21.65
  • 2021 Office Vacancy Rate 14.55%
  • 2021 Office Completions (SF) 329,230

Grand Rapids Office Sales Trends

All sale prices are based on publicly recorded, verified sales.

  • 2021 Avg. Price per SF $163.26
  • Y-o-Y Avg. PpSF Change -17.52%
  • 2021 Office Sales Volume $31.7M
  • 2021 Number of Transactions 3
View more Grand Rapids market trends

Tax

  • Property Tax in 2022 $22,268
  • Market Value* $861,865
  • Assessed Value $861,865

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

*The displayed market value represents the assessed value determined by the appropriate local tax/financial authority. It is not the property’s latest sale price or a current market value based on recent area sales.

Frequently Asked Questions

What is the total square footage of 1515 Madison Avenue SE?

1515 Madison Avenue SE totals 60,240 square feet.

When was this property built?

1515 Madison Avenue SE was built in 1919.

When was 1515 Madison Avenue SE last sold?

1515 Madison Avenue SE was last sold on 07 Oct, 2015.

What is the property tax for 1515 Madison Avenue SE?

The property tax for 1515 Madison Avenue SE in 2022 was $22,268.

What is the market value for 1515 Madison Avenue SE?

The market value* for 1515 Madison Avenue SE in 2022 was $861,865.
*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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