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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) 308-1727
    Office Address:
    161 Ottawa Ave Nw Ste 308, Grand Rapids, MI, 49503

    Performance

    Listings
    21

    Listings

    For Sale (6)

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      Commercial Land in Hudsonville, MI

      Over 2 acres of commercial land for sale.
      3160 Quincy St, Hudsonville, MI 49426
      View Details
    • Contact for pricing

      Commercial Land in Growing Community

      Land available in booming Grand Rapids, Michigan.
      2780 28Th St SW, Wyoming, MI 49519
      View Details
    • Contact for pricing

      Holland Development Opportunity Near US-31

      38.97 acres with high visibility and easy access.
      3993 West Shore Dr, Holland, MI 49424
      View Details
    • Contact for pricing
      12,998 SF

      Historic Peck Building in Downtown

      Prime downtown location with established tenants and value-add opportunity.
      40 Monroe Center St NW, Grand Rapids, MI 49503
      View Details
    • Contact for pricing
      30,222 SF

      Mixed-Use Investment Opportunity

      Investment property with established tenants in downtown Grand Rapids.
      600 7Th St NW, Grand Rapids, MI 49504
      View Details
    • Contact for pricing

      Prime Retail Space For Sale

      Retail building in strategic location, ideal for redevelopment.
      425 Stocking Ave NW, Grand Rapids, MI 49504
      View Details

    For Lease (15)

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      New Mixed-Use Property Available

      Newly constructed mixed-use property with customizable suites for rent.
      614 1St St NW, Grand Rapids, MI 49504
      View Details
    • Contact for pricing

      Retail Space in Metro Health

      Retail space available in Metro Health Village, Wyoming, Michigan.
      2304 S Main St, Wyoming, MI 49519
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    • Contact for pricing

      Retail Space in New Development

      Retail suite available in new mixed-use development.
      2300-2320 Health Dr SW, Wyoming, MI 49519
      View Details
    • Contact for pricing

      Remodeled Industrial Property with Parking

      Remodeled industrial property with warehouse, office, and ample parking.
      2823 Clydon Ave SW, Wyoming, MI 49519
      View Details
    • Contact for pricing

      Wilson Avenue Commercial Land For Rent

      Commercial land available for rent on Wilson Avenue.
      5640 Wilson Ave SW, Wyoming, MI 49418
      View Details
    • Contact for pricing

      Zeeland Retail and Office Space

      Retail and office spaces for rent with highway access.
      8381 Westpark Way, Zeeland, MI 49464
      View Details
    • Contact for pricing

      Waterfront Restaurant Pad Site Available

      Restaurant pad site available in growing mixed-use development.
      5995 Metro Way, Wyoming, MI 49519
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    • Contact for pricing

      Restaurant Pads at Metro Health

      Restaurant pads available on waterfront at UofM Metro Health Village.
      2360 Health Dr SW, Wyoming, MI 49519
      View Details
    • Contact for pricing

      Corner Suite in Zeeland

      Corner suite with parking in Zeeland's heart, versatile space.
      26 N State St, Zeeland, MI 49464
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    • $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
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    • $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
    • $26 SF/Yr

      Retail Spaces Available For Rent

      Retail spaces available, ranging from 1,360 to 1,510 SqFt.
      13 Division Ave S, Grand Rapids, MI 49503
      View Details
    • Contact for pricing

      Retail Space Near Michigan State

      End-cap retail space in mixed-use urban village.
      920 Trowbridge Rd, East Lansing, MI 48823
      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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