At Michael Cagen L.L.C., we have 38 years of experience in the commercial real estate industry. We specialize in maximizing value for your income-producing property.
About Michael Cagen
Profile
Michael A. Cagen, CCIM is a commercial real estate broker and has been licensed for more than 38 years. Throughout the most recent 19 of those years, he was focused exclusively on the sale of income producing property with a large national firm. Today, as an independent broker, his focus remains on the sale of investment real estate, including multi-family, multi-tenant office, industrial, self-storage and both single tenant and multi-tenant retail properties. He has done extensive work with lenders to assist with the marketing and disposition of REO properties in Michigan. His client base includes some of the nation’s leading work-out specialists.
Using modern technology, he's able to capture all leads and locate brokers in need of property that he's listed, in addition to finding owners of similar properties in the local and surrounding markets.
Performing Broker Price Opinions for clients is a cornerstone mission, which requires in depth knowledge of product, the local market and timely information on the financing environment.
He is recognized for his extensive market knowledge of multi-family properties. The multi-family area of his investment property expertise extends to communities of all sizes.
He has also been recognized for his ability to locate sites suitable for development. Previous real estate assignments have included acquisition of vacant commercial property suitable for adult independent living facilities and the sale of tax credit housing projects. His experience includes property management, obtaining zoning variances and handling properties requiring environmental clean-up or remediation.
Michael holds the prestigious Certified Commercial Investment Member (CCIM) designation awarded by the Commercial Investment Real Estate Institute, which is an affiliate of the National Association of Realtors. He has previously been an active member of the Michigan CCIM Chapter's Board of Directors for four years, having held the positions of secretary, treasurer, and vice chair. In 1998, he was elected President of the organization. In 2002, he was elected Secretary of the MLS Exchange, Inc, which was the entity that provided CIRRIX services to commercial members, and MLS services to residential members. In April 2003, Michael was elected President of MLS Exchange, Inc. Michael has been named 2003 Realtor of the Year, a designation that is awarded to only one Grand Rapids area Realtor each year.
His involvement with the Grand Rapids Association of REALTORS since 1989 has included various committee chairmanships, including the Commercial / Industrial Committee, which at the time was the primary voice of commercial practitioners for the Association. In April 2003, Michael was elected President of MLS Exchange, Inc. He spent three years working to develop and enhance the Commercial/Industrial membership, which then flourished into the creation of the Commercial Alliance of REALTORS, which Michael led as its President in 2005.
Michael received an award for the largest multifamily sale in 2010, 2011 and 2015, in addition to receiving the award in 2021 for Project / Transaction of the Year.
Current Listings
Ionia Retail Center - 2991-2995 S. State Road, Ionia, MI
Ionia Retail Center - 2991-2995 S. State Road, Ionia, MI
Ionia Retail Center - 2991-2995 S. State Road, Ionia, MI
Listed Price: $1,800,000
Cap Rate: 8.10%
Retail Units: 5
ZERO Vacancy since 2016
Square Footage: 24,000
Key Tenants: My Eye Dr, Continental Home Center, Ambulatory Care Clinic
Frontier Justice - 202 S. Gateway Place, Jenks, OK
Ionia Retail Center - 2991-2995 S. State Road, Ionia, MI
Ionia Retail Center - 2991-2995 S. State Road, Ionia, MI
Listed Price: $9,120,000
Cap Rate: 8.24%
Term Remaining: 18+ years
2% annual rent increases
Square Footage: 20,890
Single Tenant, Absolute NNN Lease
Highlights of Transaction History
Peck Building Retail Condominiums - 40 & 52 Monroe Center St NW, Grand Rapids, MI
Sale Price: $2,200,000
Cap Rate: 10.92%
Closed: 01/30/26
Square Footage: 15,481
Key Tenants: Shinola, Greyson Clothiers, Gazelle Sports
665 Seward Ave NW, Grand Rapids, MI
Sale Price: $14,500,000
Cap Rate: 7.90%
Closed: 12/17/21
Square Footage: 101,879
Key Tenants: Spectrum Health, Edward Jones, Hooker DeJong
560 5th St NW, Grand Rapids, MI
Sale Price: $7,163,800
Cap Rate: 8.18%
Closed: 10/04/21
Square Footage: 108,100
Key Tenants: Argus Technologies, Emmersive Media, i3 Business Solutions
The Lofts at 5 Lyon - 5 Lyon St NW, Grand Rapids, MI
Sale Price: $12,500,000
Cap Rate: 6.35%
Closed: 07/28/15
Square Footage: 78,300
Price per Bedroom: $75,301
Notes: 66 Units, 166 Bedrooms
A Northland Drive Spare Room - 12505 Northland Dr, Cedar Springs, MI
Sale Price: $500,000
Cap Rate: 11.12%
Closed: 05/14/12
Square Footage: 60,981
Units: 299
Notes: Bank-Owned Self-Storage Facility, Only 29% Leased at Closing
Orchard Place - 1300 Knapp St NE, Grand Rapids, MI
Sale Price: $5,500,000
Cap Rate: 8.80%
Closed: 11/01/11
Square Footage: 138,246
Units: 138
Price per Unit: $39,855
Notes: Affordable Housing with PILOT in place
Quest Diagnostics - 2740 28th St SW, Wyoming, MI
Sale Price: $3,050,000
Cap Rate: 9.53%
Closed: 08/06/08
Square Footage: 25,506