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234 Market

Off-Market

234 Market Avenue SW, Grand Rapids, MI 49503

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  • 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

Location

  • City Grand Rapids, MI
  • Neighborhood Downtown Grand Rapids
  • Zip Code 49503
  • 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 Date 05 Oct, 2021
  • 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 $3,050,512
  • Market Value* $118,066,904
  • Assessed Value $118,066,904

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 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 2021 was $3,050,512.

What is the market value for 234 Market?

The market value* for 234 Market in 2021 was $118,066,904.
*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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