86 Monroe Center St NW - Office FOR SALE


Grand Rapids, MI 49503- Downtown Grand Rapids
$21,700,000 USD
616-774-3500
86 Monroe Center St NW, Grand Rapids, MI for Sale
$21,700,000 USD
Office - FOR SALE
1/5
null | 7.5% Cap Rate

86 Monroe Center St NW
Grand Rapids, MI 49503
Downtown Grand Rapids


OVERVIEW

86 Monroe Center is a fully leased, historic Class A office property located in the heart of downtown Grand Rapids, Michigan. The eight-story, 104,419-square-foot asset is prominently situated along the Monroe Center pedestrian corridor and serves as the regional headquarters of Blue Cross Blue Shield of Michigan, the state’s dominant health insurer and an investment-grade credit tenant.  With long-term occupancy, significant tenant investment in the facility, and a premier downtown location, the property offers investors stable cash flow backed by a high-credit tenant within one of Michigan’s most dynamic urban markets.

FOR SALE DETAILS

PRICE

$21,700,000 USD

PRICE/SF

$198 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

8

BUILDING CLASS

A

YEAR BUILT

1916

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

CC

APN/PARCEL ID

41-13-25-286-003,41-13-25-286-008

ASK ABOUT THIS PROPERTY

Michael VisserAdvantage Commercial Real Estate Services LLCMore Info
616-774-3500

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Michael VisserAdvantage Commercial Real Estate Services LLCMore Info
616-774-3500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.