234 Market

Off-Market

234 Market Avenue SW, Grand Rapids, MI 49503

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

  • Property Type Office - General Office
  • Property Size 242,452 SF
  • Lot Size 1.99 Acre
  • Parking Spaces Avail. 865
  • Parking Ratio 3.57 / 1,000 SF
  • Property Tenancy Multi-Tenant
  • Building Class A
  • Year Built 2018

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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Brokers

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Documents

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Sales

  • Purchase Date 05 Oct, 2021
  • Purchase Price
  • Arm's Length True
  • Buyer Name

Mortgages

  • Current Lender
  • Loan Amount
  • Loan Origination Date
  • Loan Maturity 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.

  • 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

Location

Getting Around

  • Walk Score ®

    73/100 Very Walkable
  • Transit Score ®

    68/100 Good Transit
  • Bike Score ®

    62/100 Bikeable
Powered by Walk Score ®
  • City Grand Rapids, MI
  • Neighborhood Downtown Grand Rapids
  • Zip Code 49503
  • Market Grand Rapids

Points of Interest

  • Grand Rapids

    0.28 miles

  • Mobil

    0.11 miles

  • Mobil

    0.48 miles

  • Pacific Pride

    0.50 miles

  • Marathon

    0.63 miles

  • Meijer Express

    1.02 miles

  • BP

    1.23 miles

  • Mobil

    1.31 miles

  • BP

    1.55 miles

  • 4STAR

    1.78 miles

  • Speedway

    1.83 miles

  • Area 6A

    0.23 miles

  • Watson Lot

    0.30 miles

  • Seidman Lot

    0.32 miles

  • Area 2

    0.33 miles

  • Cherry St. Parking

    0.38 miles

  • Area 3

    0.39 miles

  • Museum Parking

    0.46 miles

  • Grand Valley State University Pew Campus Parking

    0.56 miles

  • Area 7

    0.70 miles

  • Area 9

    0.71 miles

  • Canopy by Hilton

    0.33 miles

  • Barri

    0.47 miles

  • Residence Inn Marriott

    0.50 miles

  • JW Marriott Grand Rapids

    0.54 miles

  • Holiday Inn Grand Rapids Downtown

    0.54 miles

  • City Flats Hotel

    0.56 miles

  • Amway Grand Plaza

    0.63 miles

  • The Brauhaus Inn

    0.99 miles

  • Hampton Inn & Suites Grand Rapids Downtown

    1.39 miles

  • Days Inn & Suites

    3.04 miles

  • Bistro Bella Vita

    0.31 miles

  • Leo's Coney Island on Tap

    0.34 miles

  • One Twenty Three Tavern

    0.34 miles

  • Peppino's

    0.36 miles

  • The Kitchen @ 40 Cherry

    0.38 miles

  • Tavern on the Square

    0.39 miles

  • Mertens Prime

    0.42 miles

  • Stella's Lounge

    0.44 miles

  • Two Beards

    0.47 miles

  • Buffalo Wild Wings

    0.47 miles

  • Maplewood School

    0.32 miles

  • Thomas M. Cooley Law School

    0.39 miles

  • Grand Valley State University Pew Campus

    0.42 miles

  • Grand Valley State University - Pew Campus

    0.47 miles

  • Saint Joseph School

    0.59 miles

  • Lexington

    0.60 miles

  • Lexington School

    0.60 miles

  • Franklin School

    0.66 miles

  • Kendall College of Art and Design

    0.70 miles

  • Vandenberg School

    0.75 miles

  • Kelloggsville Early Childhood Learning Center

    5.07 miles

  • Kenowa Hills Early Childhood Center

    5.46 miles

Frequently Asked Questions

What is the total square footage of 234 Market?

234 Market totals 242,452 square feet.

When was this property built?

234 Market was built in 2018.

When was 234 Market last sold?

234 Market was last sold on 05 Oct, 2021.

What is the property tax for 234 Market?

The property tax for 234 Market in 2022 was $1,623,057.

What is the market value for 234 Market?

The market value* for 234 Market in 2022 was $63,226,811.
*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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