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    Listings

    For Sale (14)

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    Wooded Lot Near Blue Lake
    $66,500
    7.12 Acres

    Wooded Lot Near Blue Lake

    7.12 acre wooded lot near all-sports Blue Lake.

    Hayes Rd, Mecosta, MI 49332
    View details
    Wooded Land with River Frontage
    $45,000
    5.70 Acres

    Wooded Land with River Frontage

    5.7 acres of wooded land with 500' Kalamazoo River frontage.

    Outlot A Suwanee St, Battle Creek, MI 49037
    View details
    Historic Downtown Grand Rapids Building
    $6,350,000
    43,216 SF

    Historic Downtown Grand Rapids Building

    Five-story commercial building with premier space and attached parking.

    120 Ottawa Ave NW, Grand Rapids, MI 49503
    View details
    Wooded Lot in Grand Rapids
    $199,900
    0.63 Acres

    Wooded Lot in Grand Rapids

    Vacant lot to build your dream home in Grand Rapids.

    2124 Engleside Dr SE, Grand Rapids, MI 49546
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    Gowen, MI Lakefront Land
    $680,000
    0.82 Acres

    Gowen, MI Lakefront Land

    Lakefront land with 200+ feet of private waterfront.

    12487 Horseshoe Dr NE, Gowen, MI 49326
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    Prime Development Site on US-131
    $1,200,000
    5.93 Acres

    Prime Development Site on US-131

    6-acre commercial land with high visibility and versatile zoning.

    Walnut Dale Dr, Wayland, MI 49348
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    Grand Rapids Vacant Land Parcel
    $299,000
    1.64 Acres

    Grand Rapids Vacant Land Parcel

    Vacant land in desirable Grand Rapids location near amenities.

    777 E Sedona Hl Ct NE, Grand Rapids, MI 49525
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    Grand Rapids Vacant Land Parcel
    $249,000
    0.66 Acres

    Grand Rapids Vacant Land Parcel

    Vacant land in desirable Grand Rapids location near amenities.

    757 W Sedona Hl Ct NE, Grand Rapids, MI 49525
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    Grand Rapids Vacant Land Parcel
    $310,000
    1.87 Acres

    Grand Rapids Vacant Land Parcel

    Vacant land in desirable Grand Rapids location near amenities.

    746 W Sedona Hl Ct NE, Grand Rapids, MI 49525
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    Vacant Land in Grand Rapids
    $215,000
    0.66 Acres

    Vacant Land in Grand Rapids

    Exceptional building site with woodland views, convenient to amenities.

    2395 Dunnigan Ave NE, Grand Rapids, MI 49525
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    Zeeland Land Parcel For Sale
    $169,000
    3.20 Acres

    Zeeland Land Parcel For Sale

    3.2 acre parcel in Zeeland, ready for your dream home.

    7 40Th St, Zeeland, MI 49464
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    Grand Rapids Multifamily Near Union Square
    $425,000
    0.07 Acres

    Grand Rapids Multifamily Near Union Square

    Well-maintained Grand Rapids multifamily property near Union Square.

    646 Broadway Ave NW, Grand Rapids, MI 49504
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    2.2 Acre Lot with Barn
    $75,000
    2.20 Acres

    2.2 Acre Lot with Barn

    2.2 acre lot with 1,200 sq ft pole barn.

    Lot Riv Ln, Hastings, MI 49058
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    Updated Condo in Jasonville Farms
    $219,900
    1,093 SF

    Updated Condo in Jasonville Farms

    Updated 2 bedroom condo with modern amenities and convenient location.

    8440 N Jasonville Ct SE, Caledonia, MI 49316
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    • For Sale

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    RE/MAX of Grand Rapids
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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
    RE/MAX of Grand Rapids
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