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1601 Madison Avenue SE

Off-Market

1601 Madison Avenue SE, Grand Rapids, MI 49507

This property is off-market. Unlock in-depth property data and market insights by signing up to CommercialEdge.

  • Property Type Office - Flex - Office
  • Property Size 51,000 SF
  • Lot Size 9.66 Acre
  • Property Tenancy Single Tenant
  • Building Class B
  • Year Built 2022

Location

  • City Grand Rapids, MI
  • Neighborhood Garfield Park
  • Zip Code 49507
  • Market Grand Rapids

Contacts

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Owner

  • True Owner
  • Registered Owner

Brokers

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Documents

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Sales

  • Purchase Price
  • Arm's Length True
  • Buyer Name

Mortgages

  • Current Lender
  • Loan Amount
  • Loan Origination Date

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%
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Asking Rents in Grand Rapids Office Market

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

  • 2020 Avg. Asking Rent $22.54
  • 2020 Office Vacancy Rate 11.83%
  • 2020 Office Completions (SF)
View more Grand Rapids market trends

Tax

  • Property Tax in 2021 $129,558
  • Market Value* $5,014,433
  • Assessed Value $5,014,433

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 1601 Madison Avenue SE?

1601 Madison Avenue SE totals 51,000 square feet.

When was this property built?

1601 Madison Avenue SE was built in 2022.

What is the property tax for 1601 Madison Avenue SE?

The property tax for 1601 Madison Avenue SE in 2021 was $129,558.

What is the market value for 1601 Madison Avenue SE?

The market value* for 1601 Madison Avenue SE in 2021 was $5,014,433.
*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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