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1040 Market Avenue SW Listing Details & Market Data

Off-Market

1040 Market Avenue SW, Grand Rapids, MI 49503

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  • Property Type Industrial - Warehouse/Distribution
  • Property Size 59,294 SF
  • Lot Size 4.64 Acre
  • Property Tenancy Owner Occupied
  • Building Class B
  • Year Built 1969

Location

  • City Grand Rapids, MI
  • Neighborhood Black Hills
  • 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 21 Sep, 2012
  • 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.

  • 2020 Avg. Asking Rent $22.54
  • 2020 Office Vacancy Rate 11.83%
  • 2020 Office Completions (SF)

Tax

  • Property Tax in 2021 $51,788
  • Market Value* $2,004,415
  • Assessed Value $2,004,415

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.