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

    Mark Ansara, Grand Rapids, MI

    License ID: 6501354465
    Colliers International
    Association
    Commercial Alliance Of Realtors

    Service Locations

    Contact details

    Phone:
    (616) 774-3500
    Office Address:
    333 Bridge St Nw, Grand Rapids, MI, 49504

    Performance

    Listings
    14

    Listings

    For Sale (5)

    View map
    • $1,595,000
      3,696 SF

      Kentwood Restaurant - $1.6M

      Prime Kentwood restaurant, 3696 sq ft, vacant.
      4550 28Th St, Kentwood, MI 49512
      View Details
    • $1,950,000
      6.54 Acres

      Grand Rapids Storefront Investment

      Prime 6.54-acre Beltline Ave. site
      2284 Beltline Ave, Grand Rapids, MI 49525
      View Details
    • $734,500
      2.26 Acres

      Benton Harbor Commercial Land Opportunity

      Prime I-94 location, 2.26 acres, high visibility.
      1468 Cinema Way, Benton Harbor, MI 49022
      View Details
    • $685,750
      2.18 Acres

      Prime Caledonia Commercial Land

      2.18 Acres, Highway Commercial Zoning
      6697 Broadmoor Ave, Caledonia, MI 49316
      View Details
    • $2,350,000
      11,180 SF

      Kentwood Convenience Store Investment

      High-traffic location, NNN lease, strong ROI.
      4410 Division Ave, Kentwood, MI 49548
      View Details

    For Lease (9)

    View map
    • $10 SF/Yr
      20,659 SF

      7 Ionia Ave

      Restaurants
      7 Ionia Ave, Grand Rapids, MI 49507
      View Details
    • $32 SF/Yr
      4,478 SF

      Grand Rapids Restaurant Space for Lease

      Prime Medical Mile location, 4,478 sq ft.
      251 Michigan St, Grand Rapids, MI 49503
      View Details
    • $14 SF/Yr
      11,180 SF

      Division Ave Retail Opportunity

      High-Visibility Retail Space, 11,180 SF
      4410 Division Ave, Kentwood, MI 49548
      View Details
    • $1.38 SF/Yr
      201,360 SF

      Grand Rapids Retail Center Investment

      Prime Plainfield Ave. Shopping Center Space
      3470 Plainfield Ave, Grand Rapids, MI 49525
      View Details
    • $24 SF/Yr
      1,500 SF

      Celebration Village Retail Space

      High-traffic retail space available now.
      2121 Celebration Dr, Grand Rapids, MI 49525
      View Details
    • $27 SF/Yr
      1,325 SF

      Grand Rapids Retail Space for Lease

      Medical Mile Corridor, Two Suites Available
      740 Michigan St, Grand Rapids, MI 49503
      View Details
    • $24 SF/Yr
      4,100 SF

      Grandville Retail Space Available

      Prime Grandville location, two suites available.
      4763 Wilson Ave, Grandville, MI 49418
      View Details
    • $35 SF/Yr
      1,600 SF

      Knapps Crossing Retail Space

      High-traffic retail space available.
      2200 Beltline Ave, Grand Rapids, MI 49525
      View Details
    • $22 SF/Yr
      10,056 SF

      East Paris Ave Retail Spaces

      Grand Rapids retail suites, 1,819-5,028 SF
      1144 Paris Ave, Grand Rapids, MI 49546
      View Details

    Leases and Sales on Map

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    Mark Ansara, 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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