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

    4590 3 Mile Road NE Grand Rapids, MI 49525

    View on Map
    Claim this Listing
    Pending
    $124,900

    LAND - Grand Rapids, MI

    Lot size:
    1.31 Acres
    Added:
    Dec 27, 2023
    Days on Market:
    840
    Last Refresh:
    Apr 15 at 10:06 pm

    Property Features for 4590 3 Mile Road NE

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    41-14-01-451-009
    Lot size
    1.31 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    E 268 FT OF THAT PART OF W 1/2 SE 1/4 LYING SLY OF CL OF 3 MILE RD EX S 828.94 FT * SEC 1 T7N R11W 5.18 A.

    Utilities

    Utilities
    Cable Available

    We can help!

    Listing Contact
    Rod Horlings
    Rod Horlings

    Listing agent Rod Horlings License #6501227226

    Listing office RE/MAX United (Beltline) 4150 E Beltline NE, Rockford, MI

    Listing date Dec 27, 2023

    MLS# 23145714 Listing URL

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Grand Rapids 1.3 Acre Land

    This 1.31 acre single family building site is located in Grand Rapids Township, close to Knapp's Corner. The parcel has been perked by KCEHD and surveyed. It features flat, sandy soils and a treeline to the East. Outbuildings are allowed. The property is in a great Northeast location, within 20 minutes of downtown. Sale is subject to the seller's ability to obtain municipal approvals. The property sale will be subject to a Road Maintenance Agreement with approximate costs of $55.00 per month for annual and future maintenance of the private road. Additional lots are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Building Supply Big Box & Wholesale Store Department Store Kitchen & Bath Showroom Garden Center Electrical Service Computer & Electronic Repair Tech Support Center Carpet & Flooring Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.556404
    Latitude
    43.01754

    Nearby Similar for Sale

    • $999,000
      9,721 SF

      Historic Brick Building Condo Conversion

      First floor condo in a historic building with ample parking.
      101 Sheldon Avenue SE, Grand Rapids, MI 49503
      View Details
    • $899,900
      12,183 SF

      Mixed-Use Property in Grand Rapids

      High-visibility commercial property with retail, office, and warehouse space.
      3614-3620 Division Avenue S, Grand Rapids, MI 49548
      View Details
    • $1,750,000
      8,217 SF

      Iconic Bar & Grill Opportunity

      Rare commercial opportunity with income and expansion potential in Grand Rapids.
      760 Butterworth Street SW, Grand Rapids, MI 49504
      View Details
    • $584,900
      8,446 SF

      Versatile Commercial Property, Grand Rapids

      Mixed-use property with strong income potential and flexible business options.
      4000 Remembrance Road NW, Grand Rapids, MI 49534
      View Details
    • $925,000
      3,224 SF

      Grand Rapids Commercial Property

      Versatile commercial building at a bustling Grand Rapids intersection.
      845 4 Mile Road NW, Grand Rapids, MI 49544
      View Details
    • $450,000
      1,437 SF

      Riverfront Commercial Condo in Grand Rapids

      Move-in ready commercial condo with river views and trail access.
      801 Monroe Avenue NW, Grand Rapids, MI 49503
      View Details
    • $4,700,000
      31,761 SF

      Grand Rapids Office/Medical Complex

      31,761 SF office and medical complex in Grand Rapids.
      3264 N Evergreen Drive NE, Grand Rapids, MI 49525
      View Details
    • $600,000
      2,416 SF

      Grand Rapids Commercial Corner Property

      Corner location suitable for owner/operator or redevelopment.
      2960 Division Avenue S, Grand Rapids, MI 49548
      View Details
    • $5,250,000
      48,211 SF

      Historic Grand Rapids Landmark Building

      Versatile 48,211 SF building in downtown Grand Rapids.
      25 Sheldon Avenue SE, Grand Rapids, MI 49503
      View Details
    • $6,350,000
      43,216 SF

      Historic Downtown Grand Rapids Building

      Five-story commercial building with premier space and attached parking.
      120 Ottawa Avenue NW, Grand Rapids, MI 49503
      View Details
    • $450,000

      Move-in Ready Grand Rapids Triplex

      Updated three-unit property with a large garage and lot.
      1643 Aberdeen Street NE, Grand Rapids, MI 49505
      View Details
    • $724,900

      Turnkey Grand Rapids Investment Opportunity

      Four-unit property with income potential and recent renovations.
      100 43rd Street SW, Grand Rapids, MI 49548
      View Details

    FAQs

    What type of property is this?
    Land - 1.3 acre single family building site near Knapp's Corner.
    Where is this land located?
    The property is located at 4590 3 Mile Road NE Grand Rapids, MI.
    What is the asking price?
    The asking price for this property is $124,900.
    What are key features of this property?
    This property features: 1.3 acre single family building site in Grand Rapids Township.; Perked by KCEHD and surveyed.; Flat, sandy soils with treeline to the East.
    (616) 291-5824
    We can help!
    Listing Contact
    Rod Horlings
    Rod Horlings
    Real Estate License ID: 6501227226
    Learn More
    Request Owner's contact information
    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.

    More about this property
    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

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