What are the different types of commercial real estate?

Commercial real estate is a broad category that includes a high variety of space types designed to meet the needs of various industries of the local economy and their specialized subsectors, as presented in our real estate 101 guide to types of commercial real estate . However, there are three main categories that you are most likely to come across: office, retail, and industrial space . Modern office space is typically organized over large floor plates bound by high ceilings and large windows for an abundance of natural light and is located in transit-oriented developments with good access to multiple modes of transportation, so as to facilitate employee commute. The Grand Rapids commercial real estate market incorporates 11,040,091 square feet of office space across 157 buildings. Office buildings can also accommodate coworking spaces , which are shared office options that typically cater to the needs of small, startup businesses that require flexible workspaces, a concentration of amenities, and services that can be accessed on an occasional or short-term basis. In Grand Rapids, the coworking segment of the commercial real estate market incorporates about 3,655 square feet. Retail space includes shopping malls, department stores, street retail, or specialty stores dedicated to a narrow range of products. Such properties are typically located in high foot-traffic and/or car traffic areas, to facilitate customer access. The Grand Rapids commercial real estate market includes 4,364,264 square feet of retail space in a variety of settings. Industrial property most often serves businesses operating in manufacturing or logistics and generally consists of large open spaces located within good access to roads, railways, freight airports or regional water ports. Industrial space listings can include warehouses, manufacturing plants, distribution centers, flexible industrial space, or even data center facilities. Across the Grand Rapids market, there is a total of 15,345,568 square feet of industrial property.

What types of commercial real estate are available in Grand Rapids, MI?

The largest share of commercial real estate space for lease in Grand Rapids is represented by Office space , which accounts for 1,203,937 square feet of available listings. Retail space available in Grand Rapids adds up to 425,912 square feet.

What factors affect the price of commercial real estate in Grand Rapids, MI?

The price of renting or buying commercial real estate is influenced by a variety of factors, including: the property type (for example, office space is priced higher than other property types in most locations); the condition and asset class rating (property rated class A or above will typically command a higher price than lower grade classifications); the quality or the development potential of the property location; whether or not there is high demand for the type of commercial asset in question; and what the state of supply is relative to demand.

What is the average rent for commercial space in Grand Rapids, MI?

The average rent for commercial real estate space listed for lease in Grand Rapids is $18.77 per square foot. However, this value does not offer enough perspective on its own, as you will find significant variation in prices across property types, property classes, and location, as well as other impacting factors. For instance, rent per square foot of office space in Grand Rapids can vary greatly depending on the rating of the property from Class A to Class C, as well as across the city depending on the location of the asset.

What are the best areas for commercial real estate in Grand Rapids, MI?

The best choice of location for commercial space depends on the factors that are most relevant to your business. A good thing to look for at the start, however, is the areas of the city that have the highest concentration of your preferred type of property, as these areas are generally well connected to the amenities and points of interest that are most relevant to each property type. As such, there are several areas that you could consider to be the best location for commercial real estate in Grand Rapids, depending on the property type you are interested in. The highest concentration of commercial space listings of any kind in Grand Rapids is in the Downtown Grand Rapids neighborhood. But if we look at each commercial property type, we find that for office space, the best location is the Downtown Grand Rapids area . Meanwhile, retail space opportunities are most abundant in the Downtown Grand Rapids submarket. Alternatively, if you are looking for warehouse or other industrial space, consider looking at listings in Millbrook . Select your preferred property type from the search filters menu at the top of the search page and then navigate the interactive map for a better view of commercial real estate availability in the locations most suited to your needs.

How do I find a good commercial real estate broker?

Whether or not leasing commercial space is a new experience for you, there are significant benefits to working with a commercial real estate broker . In addition to saving you time and money, an experienced broker will contribute specialist knowledge of the local market , the property type you need representation for, and will handle negotiations on your behalf in your best interest. To start, it is important for you to have a good understanding of what kind of broker you need. For instance, there are differences between a tenant broker and a listing broker . Also important at the start is to have a clear idea of what kind of space (or tenant) you are looking for and what (if any) particular needs and requirements you might have. And, while it is good to get a referral, you should interview several brokers to better gauge who you feel would best represent your interests. CommercialCafe hosts listings from some of the most trusted commercial real estate brokerages in the country. Use the contact form available on each listing page or the contact details for the property representatives to reach out and start your search!

What is the most profitable commercial real estate?

The profitability of a commercial real estate investment depends on a multitude of factors working together. These factors include the quality of the asset itself — which itself includes aspects such as location, property class, amenities, and the quality of the property management — to the local market conditions, the state of the local economy, the demand for that particular type of commercial property, and of course the costs of owning and maintaining it relative to what leasing rate or sale price you get from the property. Asking rents in the city went as high as $26.71 per square foot. In particular, the property type commanding the highest lease rates in Grand Rapids was Office space. Conversely, the highest sale price last year was $2,200,000 that is located at 3400 Innovation Court SE.

What is the average size of a commercial property in Grand Rapids, MI?

The average size of a commercial property in Grand Rapids depends greatly on the property type and the location — geographical possibilities and zoning allowances have significant influence on how big developers can build. While there are outliers that break height or volume records in the city, we can look at some average sizes by property use: In Grand Rapids, the average size of an office property is 73,601 square feet. Retail properties here incorporate an average of 71,545 square feet. Industrial space in Grand Rapids is in buildings that are, on average 191,820 square feet in size.

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306 Commercial Real Estate Listings in Grand Rapids, MI

CRE Market Stats

CWD Building

50 Louis Street NW, Downtown Grand Rapids, Grand Rapids, MI
For Lease

$33.15 - $34.29/SF/YR
Property

Office

75,000 SF
Availability

3 Spaces

5,955 SF
Year Built

1916
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Boardwalk

940 Monroe Ave. NW, Belknap Lookout, Grand Rapids, MI
For Lease

$19.50/SF/YR
Property

Office

400,000 SF
Availability

8 Spaces

70,013 SF
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Downtown Loft Offices with LOWEST Parking Cost ($86/month)

100 Cesar E. Chavez Ave SW , Downtown Grand Rapids, Grand Rapids, MI
For Lease

$17.95/SF/YR
Property

Office

77,000 SF
Availability

1 Space

4,916 SF
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900 Leonard St. NW

900 Leonard St. NW, West Grand, Grand Rapids, MI
For Lease

$19.00/SF/YR
Property

Retail

50,000 SF
Availability

1 Space

1,540 SF
Year Built

2023
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Lofts of Grove

1359 Plainfield Avenue Northeast, Creston, Grand Rapids, MI
For Lease

$20.00/SF/YR
Property

Retail

3,095 SF
Availability

3 Spaces

6,185 SF
Year Built

2023
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98 Ottawa Ave NW

98 Ottawa Ave NW, Downtown Grand Rapids, Grand Rapids, MI
For Lease

$22.50/SF/YR
Property

Office

15,316 SF
Availability

8 Spaces

53,815 SF
Year Built

1910
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Commerce Building

1001 Division Ave S, Southeast Grand Rapids, Grand Rapids, MI
For Lease

$10.00/SF/YR
Property

Office

9,696 SF
Availability

1 Space

9,696 SF
Year Built

1930
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PNC Bank Building

171 Monroe Avenue NW, Downtown Grand Rapids, Grand Rapids, MI
For Lease

Contact for pricing
Property

Office

166,244 SF
Availability

1 Space

8,231 SF
Year Built

1984
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77 Monroe Center Street Northwest
The Factory
77 Monroe Center Street Northwest #600, Grand Rapids, MI
Services

Virtual Office

Open Workspace

Meeting Room
Amenities

Bike storage

Complimentary coffee & tea

Free water

High-speed wifi

Parking

Pet friendly

Printer

Privacy booths

Projector

Receptionist/Secretarial services
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169 Monroe Avenue NW

169 Monroe Avenue NW, Downtown Grand Rapids, Grand Rapids, MI
For Lease

Contact for pricing
Property

Office

36,149 SF
Availability

2 Spaces

6,325 SF
Year Built

1990
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605 Seward Avenue NW

605 Seward Avenue NW, West Grand, Grand Rapids, MI
For Lease

$21.95/SF/YR
Property

Office

29,401 SF
Availability

1 Space

25,298 SF
Year Built

2009
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The Weyhill Building

2025 East Beltline Avenue SE, Ridgemoor, Grand Rapids, MI
For Lease

$15.95 - $16.95/SF/YR
Property

Office

80,000 SF
Availability

4 Spaces

10,420 SF
Year Built

1988
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25 Division Ave S

25 Division Ave S, Downtown Grand Rapids, Grand Rapids, MI
For Sale

$525,000
Property

Office

3,364 SF
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Fifth Third Center - 111 Lyon Street

111 Lyon Street NW, Belknap Lookout, Grand Rapids, MI
For Lease

$27.00/SF/YR
Property

Office

190,804 SF
Availability

9 Spaces

125,749 SF
Year Built

1966
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3150 Plainfield Avenue Northeast

3150 Plainfield Avenue Northeast, Creston, Grand Rapids, MI
For Lease

$12.00/SF/YR
Property

Office

68,580 SF
Availability

1 Space

2,300 SF
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2249 Division Ave S

2249 Division Ave S, Garfield Park, Grand Rapids, MI
For Sale

$439,900
Property

Other

4,888 SF
Year Built

1923
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Taco Borracho

755 Michigan Street Northeast, Midtown Grand Rapids, Grand Rapids, MI
For Sale

$1,700,000
Property

Retail

2,885 SF
Year Built

2013
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NEW PRICE! Downtown GR Bank/Retail Condo For Sale

60 Monroe Center St NW, Downtown Grand Rapids, Grand Rapids, MI
For Sale

$1,585,000
Property

Retail

9,315 SF
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64/70 Ionia Avenue SW

64/70 Ionia Avenue SW, Downtown Grand Rapids, Grand Rapids, MI
For Sale

$9,143,939
Property

Office

61,839 SF
Year Built

1916
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37 Ottawa Building

37 Commerce Avenue NW, Downtown Grand Rapids, Grand Rapids, MI
For Lease

Contact for pricing
Property

Office

94,500 SF
Availability

5 Spaces

36,681 SF
Year Built

1887
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541 Burton Street Southwest

541 Burton Street Southwest, Garfield Park, Grand Rapids, MI
For Lease

$2,000.00/MO
Property

Office

5,600 SF
Availability

1 Space

2,800 SF
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336 Hall Street Southeast

336 Hall Street Southeast, Southeast Grand Rapids, Grand Rapids, MI
For Sale

$598,000
Property

Office

4,320 SF
Year Built

1920
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1700 28th St SE, Grand Rapids, MI 49508

1700 28th Street Southeast, Millbrook, Grand Rapids, MI
For Sale

$7,350,000
Property

Office

130,000 SF
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96 Monroe Center St NW

96 Monroe Center St NW, Downtown Grand Rapids, Grand Rapids, MI
For Sale

$1,850,000
Property

Office

13,720 SF
Year Built

1875
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2733 28th St SE

2733 28th St SE, Ridgemoor, Grand Rapids, MI
For Sale

$700,000
Property

Retail

3,520 SF
Year Built

1981
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1251 Plainfield Ave NE

1251 Plainfield Avenue Northeast, Creston, Grand Rapids, MI
For Lease

$6.45/SF/YR
Property

Industrial

13,093 SF
Availability

1 Space

8,000 SF
Year Built

1925
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Building Size Range	Total Square Feet	Share of Total Office
50k to 100k Sq. Ft.	2,467,387 Sq. Ft.	23.4%
100k to 500k Sq. Ft.	6,293,217 Sq. Ft.	59.68%

Class	Total Square Feet	Share of Total Office
Class A	5,032,215 Sq. Ft.	47.72%
Class B	4,989,209 Sq. Ft.	47.32%
Class C	485,670 Sq. Ft.	4.61%

Building Size Range	Total Square Feet	Share of Total Industrial
50k to 100k Sq. Ft.	4,232,734 Sq. Ft.	18.57%
100k to 500k Sq. Ft.	10,982,409 Sq. Ft.	48.19%
500k to 1M Sq. Ft.	2,677,198 Sq. Ft.	11.75%
> 1M Sq. Ft.	1,941,895 Sq. Ft.	8.52%

Class	Total Square Feet	Share of Total Industrial
Class A	1,349,984 Sq. Ft.	5.92%
Class B	16,000,201 Sq. Ft.	70.21%
Class C	5,194,707 Sq. Ft.	22.8%

Building Size Range	Total Square Feet	Share of Total Retail
50k to 100k Sq. Ft.	1,110,049 Sq. Ft.	33.38%
100k to 500k Sq. Ft.	1,640,830 Sq. Ft.	49.34%
500k to 1M Sq. Ft.	575,000 Sq. Ft.	17.29%

City	Property Type	Count of Listings	Total SF
Grand Rapids, MI	Office	85	1,203,937
Grand Rapids, MI	Retail	43	425,912
Grand Rapids, MI	Industrial	6	289,994
Grand Rapids, MI	Other	134	1,963,403

306 Commercial Real Estate Listings in Grand Rapids, MI

Frequently Asked Questions

What are the different types of commercial real estate?

What types of commercial real estate are available in Grand Rapids, MI?

What factors affect the price of commercial real estate in Grand Rapids, MI?

What is the average rent for commercial space in Grand Rapids, MI?

What are the best areas for commercial real estate in Grand Rapids, MI?

How do I find a good commercial real estate broker?

What is the most profitable commercial real estate?

What is the average size of a commercial property in Grand Rapids, MI?

Grand Rapids, MI Commercial Real Estate Inventory Breakdown

Total Office Space in Grand Rapids: 10,544,594 Sq. Ft.

Total Industrial Space in Grand Rapids: 22,787,892 Sq. Ft.

Total Retail Space in Grand Rapids: 3,325,879 Sq. Ft.

Grand Rapids, MI Currently Available Listings

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