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    Kevin Vanhaitsma, Grand Rapids, MI

    License ID: 6501392260
    Bradley Company - Grand Rapids
    Association
    Commercial Alliance Of Realtors

    Service Locations

    Contact details

    Phone:
    (616) 254-0005
    Office Address:
    161 Ottawa Ave Nw Ste 308, Grand Rapids, MI, 49503

    Performance

    Listings
    29

    Listings

    For Sale (15)

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    • $800,000
      2.39 Acres

      Hudsonville Commercial Land - Prime Location

      2.39 Acres, High-Growth Area, $800,000
      3160 Quincy St, Hudsonville, MI 49426
      View Details
    • $399,900
      1.20 Acres

      Wyoming Commercial Land - 1.2 Acres

      1.2-acre commercial lot, prime location.
      2780 28Th St, Wyoming, MI 49519
      View Details
    • $5,000,000
      10,000 SF

      Prime Byron Center Daycare Investment

      Class A daycare, NNN lease, 7% cap rate.
      2220 64Th St, Byron Center, MI 49315
      View Details
    • $800,000

      Commercial Land in Hudsonville

      Over 2 acres of commercial land near I-196.
      3160 Quincy St, Hudsonville, MI 49426
      View Details
    • $274,900

      Prime Land on 28th Street

      1.2 acres with frontage ready for development in Wyoming.
      2780 28Th St SW, Wyoming, MI 49519
      View Details
    • $1,279,290

      Standalone Industrial Building with Showroom

      Industrial building with modernized showroom, ample parking, and high visibility.
      1623 Chicago Dr, Wyoming, MI 49519
      View Details
    • $5,000,000

      Child Care Franchise Opportunity

      Child care franchise in Byron Center, Michigan with NNN lease.
      2264 Byron Vw Dr SW, Byron Center, MI 49315
      View Details
    • $1,500,000

      Development Land Near Residential Units

      2.82 acres of commercially zoned land for development.
      5640 Wilson Ave SW, Wyoming, MI 49418
      View Details
    • $4,500,000

      Holland Land Near US-31

      38.97 acres available off US-31 in Holland, Michigan.
      3993 West Shore Dr, Holland, MI 49424
      View Details
    • $1,600,000

      Prime Development Site in Grandville

      6.4-acre site for mixed-use or standalone development.
      4143-4211 64Th St, Grandville, MI 49418
      View Details
    • $2,995,000

      Stadium District Development Opportunity

      Premier site near Amway Soccer Stadium, Grand Rapids.
      337 Mount Vernon Ave NW, Grand Rapids, MI 49504
      View Details
    • $3,495,000

      Riverfront Restaurant, Brewery, and Warehouse

      Turnkey restaurant, brewery, and warehouse space on the Kalamazoo River.
      701 East Michigan Ave, Kalamazoo, MI 49048
      View Details
    • $15,500,000

      Wyoming Industrial Campus with Cranes

      204,765 SF industrial facilities on 10 acres.
      2768 Remico St SW, Wyoming, MI 49519
      View Details
    • $6,850,000

      Updated Office and Warehouse Investment

      Class A office and newer warehouse near airport for sale.
      5989 Tahoe Dr SE, Grand Rapids, MI 49546
      View Details
    • $2,100,000

      Prime Mixed-Use Investment Opportunity

      Mixed-use property in Grand Rapids' thriving northwest downtown corridor.
      600 7Th St NW, Grand Rapids, MI 49504
      View Details

    For Lease (14)

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    • $9 SF/Yr

      Industrial Space For Lease

      Industrial space for lease in a centralized Grand Rapids location.
      50 Coleman St, Grand Rapids, MI 49548
      View Details
    • $12 SF/Yr

      Standalone Office Building in Cedar Springs

      Professional office space in Cedar Springs, ideal for various practices.
      600 West St, Cedar Springs, MI 49319
      View Details
    • $18 SF/Yr

      Retail Space Near Michigan State

      End-cap retail space near Michigan State University campus.
      920 Trowbridge Rd, East Lansing, MI 48823
      View Details
    • $26 SF/Yr

      Retail Space in Health-West Village

      Retail suite in a blended-use development on U of M campus.
      2300-2320 Health Dr SW, Wyoming, MI 49519
      View Details
    • $8 SF/Yr

      Wyoming Industrial Building with Storage

      Industrial building with outdoor storage and heavy power.
      1355 Judd Ave SW, Wyoming, MI 49509
      View Details
    • $7 SF/Yr

      Byron Center Industrial Space Available

      Industrial space for lease in Byron Center with office space.
      8505 Piedmont Industrial Pk Dr Southwest, Byron Center, MI 49315
      View Details
    • $28 SF/Yr

      Top-Tier Office Space Available

      Prime office space near University of Michigan Health Campus.
      2380 Health Dr SW, Wyoming, MI 49519
      View Details
    • Contact for pricing

      Class A Office Sublease

      Class A office space available for sublease in entertainment district.
      25 Ottawa Ave SW, Grand Rapids, MI 49503
      View Details
    • $7 SF/Yr

      Indoor Climate Controlled Storage Space

      Secure, first-floor, climate-controlled storage near I-96 and US 131.
      600 7Th St NW, Grand Rapids, MI 49504
      View Details
    • $20 SF/Yr

      New Mixed-Use Property For Rent

      Newly constructed mixed-use property with customizable office suites available for rent.
      614 1St St NW, Grand Rapids, MI 49504
      View Details
    • $19 SF/Yr

      Downtown Grand Rapids Mixed-Use Space

      Class A mixed-use space in a historic downtown building.
      201 Michigan St NW, Grand Rapids, MI 49503
      View Details
    • $30 SF/Yr

      Restaurant Pads at Metro Health

      Restaurant pads available on waterfront in growing mixed-use development.
      2360 Health Dr SW, Wyoming, MI 49519
      View Details
    • $18 SF/Yr

      Harbor 31 Mixed-Use Development

      Mixed-use development with retail, restaurant, office, hotel, and residential spaces.
      600 Shoreline Dr, Muskegon, MI 49440
      View Details
    • $17 SF/Yr

      Turnkey Office Space with Waterfront Views

      Modern office sublease with parking and flexible terms through 2031.
      3940 Peninsular Dr SE, Grand Rapids, MI 49546
      View Details

    Leases and Sales on Map

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    Kevin Vanhaitsma, 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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    Kevin Vanhaitsma, Grand Rapids, MI
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