GBX Group Acquires Office Building In Grand Rapids For $9.75M
SOLD
$9,750,000
Michigan
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SOLD
GBX Group Acquires Office Building In Grand Rapids For $9.75M
100 Monroe Center Street Northwest, Grand Rapids, Michigan 49503, United States
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Summary
MICHIGAN
Asset Type:Office
Transaction Type:Sale
The office building located at 100 Monroe Center St. NW in Grand Rapids, MI has been sold for a price of $9,750,000. The property, which was purchased by GBX Group, is a valuable asset in the office market.
Summary of transation details
- Property Type: Office
- Transaction Amount: $9,750,000
- Address: 100 Monroe Center St. NW
- Market: Grand Rapids, MI
- Seller: John Green
John Green represented the seller in this transaction. The sale of this office building represents a significant deal in the Grand Rapids market.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$520,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,639.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$46,219.97
Annual Debt Service$554,639.69
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