Transaction History Highlights
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
Belford Building Retail Condominiums - 53, 55, & 57 Monroe Center St NW, Grand Rapids, MI
Sale Price: $925,000
Proforma Cap Rate: 12.46%
In-Place Cap Rate: 3.94%
Closed: 01/29/26
Square Footage: 8,635
Key Tenants: Garden District, D'Vine Nails
Jimmy John's - 63 Monroe Center St NW, Grand Rapids, MI
Closed: 10/27/25
Square Footage: 1,300
Key Tenant: Jimmy John's
Notes: Jimmy John's has been a tenant since 2004 and exercised their Right of First Refusal
Joe's Plaza - 5293 Eastern Ave SE, Kentwood, MI
Sale Price: $1,450,000
Cap Rate: 9.25%
Closed: 01/31/23
Square Footage: 22,500
Key Tenants: Papa Murphy's Pizza, Dollar General, Admiral Tobacco
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: Corewell 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
Riverbend Apartments - 29 North Drive, Union City, MI
Sale Price: $630,000
Cap Rate: 5.42%
Closed: 11/13/20
Square Footage: 21,344
Units: 28
Price per Unit: $22,500
3902 Stonegate Park, Saint Joseph, MI
Sale Price: $490,000
Closed: 05/16/19
Square Footage: 7,056
Vacant - Bank-Owned Single Tenant Office
Country Ridge Apartments - 7830 South 8th St, Kalamazoo, MI
Sale Price: $1,665,000
Cap Rate: 6.58%
Closed: 03/28/19
Square Footage: 32,436
Units: 36
Price per Unit: $46,250
Colony House Apartments - 313 West Chicago St, Coldwater, MI
Sale Price: $1,350,000
Cap Rate: 7.49%
Closed: 01/03/19
Square Footage: 29,900
Units: 33
Price per Unit: $40,909
Woodsview Apartments - 18300 US Highway 127, Cement City, MI
Sale Price: $625,000
Cap Rate: 8.40%
Closed: 11/15/18
Square Footage: 18,120
Units: 15
Price per Unit: $41,667
1315 Fraternity Village Dr, Kalamazoo, MI
Sale Price: $1,875,000
Cap Rate: 8.45%
Closed: 11/08/17
Square Footage: 23,328
Notes: Student Housing, Sold for $39,063 per Bed
30th Street Center - 3099 30th St SW, Grandville, MI
Sale Price: $1,100,000
Cap Rate: 12.22%
Closed: 08/02/17
Square Footage: 25,216
Key Tenants: Vredevoogd, Maximus Fitness, Bellagio Hair Salon
Virginia Manor Apartments - 430 N Hudson St, Coldwater, MI
Sale Price: $775,000
Cap Rate: 8.19%
Closed: 04/27/17
Square Footage: 18,284
Units: 28
Price per Unit: $27,679
West Main Place - 678 Maple Hill Drive, Kalamazoo, MI
Sale Price: $800,000
Cap Rate: 12.29%
Closed: 12/12/16
Square Footage: 20,206
Key Tenants: Allstate, Halo Hair Salon, Miller Chiropractic Clinic
Dollar General - 4395 W Monroe Road, Pentwater, MI
Sale Price: $1,300,000
Cap Rate: 6.55%
Closed: 09/02/16
Square Footage: 9,026
Notes: New Construction and New 15-Year Lease
Marlow White Uniforms - 400 Seneca St, Leavenworth, KS
Sale Price: $2,250,000
Cap Rate: 8.00%
Closed: 05/31/16
Square Footage: 27,268
Notes: Sale Leaseback with New 12-Year Lease Executed at Close
Beltline Plaza - 1680 East Apple Avenue, Muskegon, MI
Sale Price: $1,300,000
Cap Rate: 11.79%
Closed: 12/18/15
Square Footage: 79,215
Key Tenants: Dollar Tree, Plumb's
Notes: Sold via an Auction Platform
Beckley Professional Centre - 4625 Beckley Road, Battle Creek, MI
Sale Price: $2,300,000
Cap Rate: 11.04%
Closed: 11/19/15
Square Footage: 37,775
Key Tenants: Edward Jones, Pleznac Law Offices, Sylvan Learning Centers
Notes: 4 Buildings, 9 Tenants
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
Woodstone Apartments - 3707 Greenleaf Boulevard, Kalamazoo, MI
Sale Price: $4,400,000
Cap Rate: 5.42%
Closed: 01/14/15
Square Footage: 102,839
Units: 99
Price per Unit: $44,444
3301 W. Michigan, 511 Sprague, 1417 Crawford, Kalamazoo, MI
Sale Price: $1,339,000
Closed: 11/21/14
Square Footage: 37,179
Notes: Student Housing, Sold for $29,756 per Bed
Aspen Park - 810 South Farmer St, Otsego, MI
Sale Price: $1,100,000
Cap Rate: 8.55%
Closed: 05/13/14
Square Footage: 27,396
Units: 43
Price per Unit: $25,581
Thorn-Barry Apartments - 525 Lincoln St, Middleville, MI
Sale Price: $3,386,000
Cap Rate: 8.92%
Closed: 04/21/14
Square Footage: 90,400
Units: 96
Price per Unit: $35,271
Westwood Office Park - 5340 Holiday Terrace, Kalamazoo, MI
Sale Price: $2,275,000
Cap Rate: 9.21%
Closed: 04/18/14
Square Footage: 51,086
Notes: 5 Buildings, 33 Tenants
The Gate and 7-10 Bar & Grill - 706 Perry Ave, Big Rapids, MI
Sale Price: $1,000,000
Cap Rate: 13.52%
Closed: 07/19/13
Square Footage: 38,625
Key Tenants: The Gate, 7-10 Bar & Grill
Notes: Bank-Owned
Maple Brooke Apartments - 4632 Beech Ave, Kalamazoo, MI
Sale Price: $2,150,000
Cap Rate: 10.08%
Closed: 07/11/13
Square Footage: 58,352
Units: 64
Price per Unit: $33,594
Family Dollar Retail Center - 1253 Lincoln Road, Allegan, MI
Sale Price: $530,000
Cap Rate: 8.68%
Closed: 03/29/13
Square Footage: 19,200
Key Tenants: Family Dollar, Russell Cellular/Verizon
Park Place Apartments - 615-628 John Anderson Court, Monroe, MI
Sale Price: $450,000
Cap Rate: 11.78%
Closed: 08/30/12
Square Footage: 49,896
Units: 53
Price per Unit: $8,491
Notes: Bank-Owned, Partially Converted to Condominium
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
10 Mile Road Spare Room - 505 10 Mile Road, Sparta, MI
Sale Price: $300,000
Cap Rate: 10.68%
Closed: 05/14/12
Square Footage: 34,648
Price per Unit: $1,333
Notes: Bank-Owned Self-Storage Facility, Only 45% 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
Airport Self Storage - 4570 36th St SE, Kentwood, MI
Sale Price: $475,000
Cap Rate: 6.28%
Closed: 05/06/11
Square Footage: 41,275
Price per Unit: $1,870
Notes: Bank-Owned Self-Storage Facility, Only 57% Leased at Closing
Advance Auto Parts - 3133 East Michigan Ave, Jackson, MI
Sale Price: $810,000
Cap Rate: 11.41%
Closed: 10/04/10
Square Footage: 7,000
Notes: Sale with 4 Years Remaining in Lease, with Multiple Renewal Options
North Muskegon Apartments - 1011 Ruddiman, North Muskegon, MI
Sale Price: $460,000
Cap Rate: 2.88%
Closed: 05/07/10
Square Footage: 21,098
Units: 34
Price per Unit: $13,529
Notes: Receiver Controlled, Distressed Asset
Grand Haven Club - 14868 Lakeshore Dr, Grand Haven, MI
Sale Price: $4,500,000
Proforma Cap Rate: 6.49%
Closed: 04/30/10
Square Footage: 198,930
Units: 182
Price per Unit: $24,725
Notes: Receiver Controlled, Distressed Asset, Partial Condo Conversion, Millions of Unfinished Construction
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
Walgreen's - 3191 28th St, Grandville, MI
Sale Price: $1,850,000
Cap Rate: 7.83%
Closed: 11/08/07
Square Footage: 13,000
Notes: Tenant is Still There in 2026
Family Dollar White Cloud - 32 S. Charles St, White Cloud, MI
Sale Price: $625,000
Cap Rate: 8.80%
Closed: 12/15/06
Square Footage: 11,600