216 Michigan Street NE

Off-Market

216 Michigan Street NE, 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 - Medical Office
  • Property Size 52,665 SF
  • Lot Size 0.5 Acre
  • Property Tenancy Multi-Tenant
  • Building Class B
  • Year Built 1994

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 16 Jul, 2013
  • 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%
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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 ®

    88/100 Very Walkable
  • Transit Score ®

    60/100 Good Transit
  • Bike Score ®

    64/100 Bikeable
Powered by Walk Score ®
  • City Grand Rapids, MI
  • Neighborhood Belknap Lookout
  • Zip Code 49503
  • Market Grand Rapids

Points of Interest

  • Grand Rapids

    1.10 miles

  • Mobil

    0.32 miles

  • Mobil

    0.97 miles

  • Mobil

    1.03 miles

  • Meijer Express

    1.11 miles

  • Speedway

    1.19 miles

  • Shell

    1.19 miles

  • Speedway

    1.27 miles

  • Pacific Pride

    1.34 miles

  • BP

    1.52 miles

  • U Save Mart

    1.53 miles

  • Ramp 8

    0.02 miles

  • Ramp 7

    0.07 miles

  • Ramp 6

    0.13 miles

  • Sneden Hall Parking Ramp

    0.46 miles

  • Staff Parking

    0.46 miles

  • Area 3

    0.70 miles

  • Area 2

    0.75 miles

  • Cherry St. Parking

    0.77 miles

  • Wege Parking Ramp

    0.83 miles

  • Museum Parking

    0.84 miles

  • Hampton Inn & Suites Grand Rapids Downtown

    0.38 miles

  • City Flats Hotel

    0.52 miles

  • Amway Grand Plaza

    0.55 miles

  • Residence Inn Marriott

    0.58 miles

  • Barri

    0.62 miles

  • JW Marriott Grand Rapids

    0.63 miles

  • Canopy by Hilton

    0.79 miles

  • Holiday Inn Grand Rapids Downtown

    0.80 miles

  • The Brauhaus Inn

    1.31 miles

  • Americas Best Value Inn & Suites-Walker/Grand Rapids North

    3.35 miles

  • McDonald's

    0.19 miles

  • Qdoba

    0.26 miles

  • Smashburger

    0.26 miles

  • Zoup!

    0.26 miles

  • The Omelette Shoppe

    0.37 miles

  • Tupelo Honey

    0.43 miles

  • Real Seafood Co

    0.46 miles

  • Global Street Food - Roam

    0.48 miles

  • Soho Sushi

    0.49 miles

  • Hong Kong Express

    0.49 miles

  • Grand Rapids Community College

    0.21 miles

  • Coit Creative Arts Academy

    0.32 miles

  • Grand Rapids Public School

    0.35 miles

  • Kendall College of Art and Design

    0.38 miles

  • Secchia Center, MSU

    0.43 miles

  • MSU Biomedical Research Center

    0.44 miles

  • Grand Rapids Learning Center

    0.50 miles

  • Thomas M. Cooley Law School

    0.74 miles

  • Eastern School

    0.84 miles

  • Saint Marys School

    0.86 miles

  • Kenowa Hills Early Childhood Center

    5.69 miles

  • Kelloggsville Early Childhood Learning Center

    6.00 miles

Frequently Asked Questions

What is the total square footage of 216 Michigan Street NE?

216 Michigan Street NE totals 52,665 square feet.

When was this property built?

216 Michigan Street NE was built in 1994.

When was 216 Michigan Street NE last sold?

216 Michigan Street NE was last sold on 16 Jul, 2013.

What is the property tax for 216 Michigan Street NE?

The property tax for 216 Michigan Street NE in 2022 was $87,625.

What is the market value for 216 Michigan Street NE?

The market value* for 216 Michigan Street NE in 2022 was $4,302,811.
*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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