SOLDOffice
GBX Group Acquires Office Building In Grand Rapids For $9.75M
100 Monroe Center Street Northwest, Grand Rapids, Michigan 49503, United States
$9,750,000
Building Size
—
Asset Type
Office
Closing
Apr 17, 2023
About this deal
AI
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
GBX GroupBuyer
Grand Rapids Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.63%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93