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    The Largest CRE Database in the US with Over 1 Million Listings

    Gary Albrecht, Grand Rapids, MI

    License ID: 6501370145
    Colliers International
    Association
    Commercial Alliance Of Realtors

    Service Locations

    Contact details

    Phone:
    (616) 242-5171
    Office Address:
    333 Bridge St Nw, Grand Rapids, MI, 49504

    Performance

    Listings
    16

    Listings

    For Sale (3)

    View map
    • $499,000
      2.85 Acres

      Midland Commercial Land - $499K

      2.85-acre commercial lot near Davenport University.
      1714 Ridgewood Dr, Midland, MI 48642
      View Details
    • $3,100,000
      28,946 SF

      Downtown Grand Rapids Office Building

      Historic Office Building, 28,946 SF
      41 Sheldon Ave, Grand Rapids, MI 49503
      View Details
    • $695,000
      3,010 SF

      Grand Haven Office Building - $695K

      Prime Grand Haven Office, Two Units, 3010 SF
      17034 Robbins Rd, Grand Haven, MI 49417
      View Details

    For Lease (13)

    View map
    • $20 SF/Yr
      6,000 SF

      Allendale Office Space: Prime Location

      Modern, Class A office suites available.
      5630 Lk Michigan Dr, Allendale Charter Township, MI 49401
      View Details
    • $20 SF/Yr
      14,752 SF

      Grand Rapids Executive Office Suites

      Prime Waterfront Office Space, Flexible Lease Terms
      3737 Lake Eastbrook Blvd, Grand Rapids, MI 49546
      View Details
    • $10 SF/Yr
      27,771 SF

      Kentwood Office Space for Lease

      Modern Office Suites, Flexible Spaces Available
      4595 Broadmoor Ave, Kentwood, MI 49512
      View Details
    • $12 SF/Yr
      2,650 SF

      Kentwood Office Space for Lease

      Prime Kentwood office, 2,650 sq ft, one suite available.
      4436 Broadmoor Ave, Kentwood, MI 49512
      View Details
    • $12 SF/Yr
      97,167 SF

      Prime Wyoming Office Space Available

      97,000+ SF Office Building, Multiple Suites
      4147 Eastern Ave, Kentwood, MI 49508
      View Details
    • $14 SF/Yr
      70,000 SF

      Grand Office Space, Medical Mile

      Fully furnished, turnkey office, flexible lease.
      500 Plymouth Ave, Grand Rapids, MI 49505
      View Details
    • $24 SF/Yr
      20,048 SF

      Grand Rapids Office Space Available

      Modern Office Suites, Kent County, MI
      4445 Fulton St, Grand Rapids, MI 49546
      View Details
    • $5 SF/Yr
      26,055 SF

      Executive Office Suites, Kent County

      Premium Office Space, Flexible Layouts, Ample Parking
      1050 36Th St, Grand Rapids, MI 49508
      View Details
    • $15 SF/Yr
      3,010 SF

      Grand Haven Office Space Available

      Prime Office Building, 1,810 SF Available
      17034 Robbins Rd, Grand Haven, MI 49417
      View Details
    • $14 SF/Yr
      7,324 SF

      Grand Rapids Office Space Available

      Prime Office Suites, I-96 Access
      4450 Cascade Rd, Grand Rapids, MI 49546
      View Details
    • $12 SF/Yr
      26,179 SF

      Grand Rapids Executive Office Space

      Prime Office Suite, 1,600 sq ft Available
      6504 28Th St, Grand Rapids, MI 49546
      View Details
    • $15 SF/Yr
      2,600 SF

      Caledonia Office Space Available

      Class B Office, 2600 sq ft, MI
      5625 Prairie Creek Dr, Caledonia, MI 49316
      View Details
    • $12 SF/Yr
      1,250 SF

      Grand Rapids Office Space for Lease

      Prime Kent County location, 2,500 sq ft available.
      2455 29Th St, Grand Rapids, MI 49512
      View Details

    Leases and Sales on Map

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    Gary Albrecht, Grand Rapids, MI
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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.

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    Gary Albrecht, Grand Rapids, MI
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