Add Listing
    Brokers
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    Peter Colvin, Grand Rapids, MI

    License ID: 6501197270
    Silveri Company
    Association
    Grand Rapids Association Of Realtors

    Service Locations

    Contact details

    Phone:
    (616) 893-1398
    Office Address:
    580 Cascade W Pkwy Se, Grand Rapids, MI, 49546

    Performance

    Listings
    12

    Listings

    For Sale (11)

    View map
    • $1,330,000
      9,026 SF

      Dollar General NNN Investment

      Michigan Retail Property - High ROI
      10600 Rd, Burt, MI 48417
      View Details
    • $1,426,900
      9,300 SF

      Dollar General NNN Investment Opportunity

      Absolute NNN Dollar General with assumable financing until 2030.
      401 W Division St, Fisher, IL 61843
      View Details
    • $1,330,000
      9,026 SF

      Dollar General NNN Investment Property

      NNN Dollar General in Burt, MI with 15-year lease.
      10600 East Rd, Burt, MI 48417
      View Details
    • $1,065,000
      26,486 SF

      Save A Lot Grocery Store

      Grocery store with long-term lease and annual rent increases.
      7434 Storey Rd, Belding, MI 48809
      View Details
    • $1,995,000
      10,863 SF

      Prime Fresno Corner Property

      Highly visible showroom, service, and accessory buildings on over one acre.
      276 N Abby St, Fresno, CA 93701
      View Details
    • $1,199,500
      9,363 SF

      Monticello Dollar General Investment Property

      NNN leased Dollar General in Monticello, Indiana tourist destination.
      6030 E State Road 16, Monticello, IN 47960
      View Details
    • $600,000
      3,304 SF

      NNN Leased Investment Property

      NNN leased investment property in Toledo, OH with 15-year lease.
      4842 Dorr St, Toledo, OH 43615
      View Details
    • $1,103,742

      Dollar General NNN Investment Opportunity

      Absolute NNN Dollar General in Minnesota lake resort town.
      306 Nokomis St East, Osakis, MN 56360
      View Details
    • $1,169,000

      Absolute NNN Dollar General Store

      Absolute Triple Net Dollar General in western Minnesota for sale.
      306 N Maine Ave, Adrian, MN 56110
      View Details
    • $1,180,285

      Dollar General Triple Net Lease

      Absolute NNN Dollar General in western Minnesota for sale.
      410 Us Highway 2 East, Fosston, MN 56542
      View Details
    • $845,000

      Renovated Car Wash Investment Property

      Car wash with long-term corporate lease and renovation.
      102 E 3Rd St, Coal Valley, IL 61240
      View Details

    For Lease (1)

    View map
    • Contact for pricing
      8,000 SF

      Retail Suite in Resort Town

      8,000 SF retail space in Baldwin, Michigan.
      740 Denmark St, Baldwin, MI 49304
      View Details

    Leases and Sales on Map

    • For Sale
    • For Lease

    Properties for sale

    View other agents
    in the same area
    Request Owner's contact information
    Peter Colvin, Grand Rapids, MI
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Send Message to
    Peter Colvin, Grand Rapids, MI
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    (616) 893-1398
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!