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    Jason R Carpenter, Grand Rapids, MI

    License ID: 6502430921,MICHIGAN
    Years of Experience
    25
    Association
    Grand Rapids Association Of Realtors

    Service Locations

    Contact details

    Phone:
    (616) 334-2630
    Office Address:
    630 Kenmoor se, Grand Rapids, MI 49546

    Property Types

    • Commercial Sale
    • Land

    Performance

    Listings
    14
    Total transactions
    209
    Total transactions amount
    $55M
    Price range
    $175k - 395k
    Average price
    $263k

    Listings

    For Sale (11)

    View map
    • $2,000,000
      9,934 SF

      Downtown Kalamazoo Mixed-Use Opportunity

      Turnkey investment opportunity in downtown Kalamazoo with mixed-use potential.
      414-424 Walbridge St, Kalamazoo, MI 49007
      View Details
    • $225,000
      Pending

      Wooded Land in Spring Lake

      Over 5 acres of wooded property in Spring Lake.
      18651 W Spring Lake Rd, Spring Lake, MI 49456
      View Details
    • $99,900
      Pending

      Turnkey Church Property on Corner Lot

      Ready-to-use church with fellowship hall, classrooms, and offices.
      615 Irving Park Blvd, Saginaw, MI 48601
      View Details
    • New
      Contact for pricing
      Pending

      Sherwood, MI Land Parcel

      0.75-acre parcel in Branch County, Michigan, for building or investment.
      893 Vogel Dr, Sherwood, MI 49089
      View Details
    • New
      $425,000
      Pending

      Functional Shop Space in Middleville

      Established commercial property ideal for contractors, light industrial, or small businesses.
      491 Arlington St, Middleville, MI 49333
      View Details
    • $799,000
      4,545 SF

      Heartside District Commercial Space

      Downtown Grand Rapids investment opportunity. Renovation ready.
      59 Commerce Avenue Southwest, Grand Rapids, MI 49503
      View Details
    • $2,000,000

      Downtown Kalamazoo Mixed-Use Opportunity

      Turnkey investment opportunity in downtown Kalamazoo with redevelopment potential.
      414-424 Walbridge St, Kalamazoo, MI 49007
      View Details
    • $2,000,000

      Downtown Kalamazoo Mixed-Use Opportunity

      Turnkey investment opportunity in the heart of Downtown Kalamazoo.
      414 Walbridge St, Kalamazoo, MI 49007
      View Details
    • $945,000

      Multi-Family Triplex Investment Opportunity

      Triplex featuring three buildings, each with three units.
      6025 Briarcliff Path, Kalamazoo, MI 49009
      View Details
    • $425,000

      Functional Shop Space in Middleville

      Functional shop space suitable for contractors, trades, or light industrial.
      491 Arlington St, Middleville, MI 49333
      View Details
    • $375,000

      Highway Commercial Property For Sale

      Commercial property on high-traffic highway with expansion potential.
      17275 Caberfae Hwy, Wellston, MI 49689
      View Details

    For Lease (3)

    View map
    • Contact for pricing

      Modern Wyoming Office Space Available

      Recently renovated office space with technology infrastructure for rent.
      1416 44Th St Southwest, Wyoming, MI 49509
      View Details
    • Contact for pricing

      Professional Office Space Available

      Office space for rent, suitable for various professional uses.
      2610 Horizon Dr Southeast, Grand Rapids, MI 49546
      View Details
    • Contact for pricing

      Main Street Retail with Patio

      Retail space ideal for coffee shop or wine bar.
      423 West Main St, Ionia, MI 48846
      View Details

    Leases and Sales on Map

    • For Sale
    • For Lease

    Properties for sale

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    Request Owner's contact information
    Jason R Carpenter, 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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