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    For Sale (17)

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    Mecosta Grocery and Restaurant Opportunity
    $499,900
    4,320 SF

    Mecosta Grocery and Restaurant Opportunity

    Successful grocery and restaurant business for sale in Mecosta, MI.

    155 W Main St, Mecosta, MI 49332
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    Waterfront Land on Lake Steven
    $90,000
    0.53 Acres

    Waterfront Land on Lake Steven

    0.5-acre waterfront lot with 250 feet of private frontage.

    10631 Maple Dr, Riverdale, MI 48877
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    Main Street Mixed-Use Property
    $260,000
    5,900 SF

    Main Street Mixed-Use Property

    Downtown Fremont investment opportunity with storefront and apartments.

    19 E Main St, Fremont, MI 49412
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    Land on Golf Course
    $39,900
    1.09 Acres

    Land on Golf Course

    1+ acre building site on golf course.

    14877 Glastonbury Dr, Gowen, MI 49326
    View details
    Wooded Lot Near State Game
    $39,000
    1.70 Acres

    Wooded Lot Near State Game

    1.7 acre wooded lot near Belding and Greenville.

    8694 S County Line Rd, Greenville, MI 48838
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    Rockford Commercial Property on Northland
    $264,900
    1,472 SF

    Rockford Commercial Property on Northland

    Commercial property with potential for office space or storage units.

    10549 Northland Dr NE, Rockford, MI 49341
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    Commercial Lot on High-Traffic Corner
    $68,000
    2.00 Acres

    Commercial Lot on High-Traffic Corner

    Highly visible 2-acre commercial lot on M-57 in Carson City.

    S Blackmer Rd, Carson City, MI 48811
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    Wooded Land Near White Cloud
    $42,900
    5.00 Acres

    Wooded Land Near White Cloud

    5-acre wooded building site east of White Cloud.

    1138 N Thornapple Ave, White Cloud, MI 49349
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    Recreational Land with Wildlife
    $350,000
    106.36 Acres

    Recreational Land with Wildlife

    106 acres of recreational land with abundant wildlife.

    2 2 Mile Rd, Evart, MI 49631
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    Hesperia Commercial Property on 8.45 Acres
    $500,000
    10,866 SF

    Hesperia Commercial Property on 8.45 Acres

    Commercial property on 8.45 acres with multiple buildings.

    8121 E M 20, Hesperia, MI 49421
    View details
    Burgess Lake Frontage Land
    $399,900
    0.56 Acres

    Burgess Lake Frontage Land

    Land with 150 feet of frontage on Pristine Burgess Lake.

    371 Burgess Lake Rd, Greenville, MI 48838
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    Lakefront Acreage in Remus, MI
    Contact for pricing
    1.26 Acres

    Lakefront Acreage in Remus, MI

    Wooded land with extensive private water frontage on Lake 28.

    Heights Rd E, Remus, MI 49340
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    Wooded Building Site Near River
    $49,000
    0.51 Acres

    Wooded Building Site Near River

    Wooded lot near Muskegon River, ideal for cabin or residence.

    7696 Muskegon Blvd, Newaygo, MI 49337
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    Wooded Land in Newaygo County
    $399,000
    126.00 Acres

    Wooded Land in Newaygo County

    126 acres of wooded land, ideal for hunting.

    N Centerline Rd, Brohman, MI 49312
    View details
    Residential Building Site in Greenville
    $135,000
    7.50 Acres

    Residential Building Site in Greenville

    7.5 acre building site near schools and shopping.

    S Greenville West Dr, Greenville, MI 48838
    View details
    North Rockford Commercial Land Opportunity
    $284,900
    1,472 SF

    North Rockford Commercial Land Opportunity

    Commercial land with existing structure, potential for office or storage.

    10549 Northland Dr NE, Rockford, MI 49341
    View details
    Versatile Commercial Property on 8.45 Acres
    $500,000
    10,866 SF

    Versatile Commercial Property on 8.45 Acres

    Commercial property with office, shop, and ample vehicle storage.

    8121 E M 20, Hesperia, MI 49421
    View details

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    Greenridge Realty (Saranac)
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Greenridge Realty (Saranac)
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