Property Type Office - General Office
Property Size 48,906 SF
Lot Size 2.02 Acre
Parking Spaces Avail. 132
Parking Ratio 2.70/ 1,000 SF
Property Tenancy Multi-Tenant
Building Class B
Year Built 1987

Location

Map
Street

City Grand Rapids, MI
Neighborhood West Grand
Zip Code 49504
Market Grand Rapids

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 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

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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 $271,123
Market Value* $10,493,534
Assessed Value $10,493,534

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*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.