Investment Overview

Marcus & Millichap is pleased to offer the East Paris Medical Center, a 10,011-square-foot multi-tenant medical and professional office property at 1155 East Paris Avenue SE in Grand Rapids, Michigan. The property is listed for $2,363,117 at a 7.75 percent cap rate and provides a net operating income of $183,142, supported by a diverse mix of credit-worthy medical and professional tenants. Built in 2004, the building has been carefully maintained with significant capital improvements, including a new roof (2015), parking lot repaving (2021) and resealing (2025), and replacement of all six HVAC units over the past five years. The 1.27-acre site offers generous parking for patients and medical users. Located along East Paris Avenue—one of Grand Rapids’ most active healthcare corridors—the property benefits from strong visibility and convenient access. It is surrounded by a concentration of nationally recognized hospitals, specialty practices, and healthcare employers. Corewell Health Blodgett Hospital (253 acute-care beds) is four miles north, while Corewell Health Butterworth Hospital (1,324 staffed beds, Level I Trauma Center) sits five miles away in downtown Grand Rapids. Trinity Health Grand Rapids Hospital, a 283-bed Level II Trauma Center, lies within seven miles. This cluster of major medical systems drives patient flow, referral traffic, and long-term demand. East Paris Medical Center is fully leased to three established tenants under modified gross leases. Trinity Health Michigan occupies 7,403 square feet (73.9 percent of GLA) and operates a rheumatology practice that has served West Michigan for more than 30 years. Labcorp, a global leader in diagnostics and life sciences, occupies 1,508 square feet (15.1 percent of GLA) and provides essential testing and laboratory services. Tamarack Capital Management, an independent investment advisory firm based in Grand Rapids, occupies 1,100 square feet (11 percent of GLA). All tenants pay at or below market rent, ensuring stable income and low rollover risk for investors. Situated within a thriving medical hub, East Paris Medical Center offers a rare opportunity to acquire a fully stabilized healthcare asset in a market defined by strong demographics, high household incomes, and expanding infrastructure. With an average household income exceeding $140,000 within three miles, easy access to I-96, U.S. 131 and M-6, and close proximity to leading hospital systems, the property combines a premier location with credit tenancy, income durability and long-term market growth.