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    Norton Shores Office Property For Sale Title is generated by Realmo AI

    4631 S Harvey Street, Norton Shores, MI 49444

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    Claim this Listing
    For Sale
    $479,900

    COMMERCIAL - Norton Shores, MI

    Type:Office
    Property size:
    2,854 SF
    Lot size:
    2.13 Acres
    Price / SF:
    $168/SF
    Added:
    Jan 19, 2026
    Days on Market:
    116
    Last Refresh:
    May 15 at 5:06 pm

    Property Features for 4631 S Harvey Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Bathrooms
    1
    Rooms
    Basement, Bathroom 1
    Standard status
    Active
    APN
    27-116-400-0019-00
    Size
    2,854 SF
    Lot size
    2.13 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LONG LEGAL ON FILE
    Tax Annual Amount
    7469

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air
    Water source
    Well

    Building Details

    Year built
    1950
    Number of units
    1
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Sandi L Gentry
    Sandi L Gentry

    Listing agent Sandi L Gentry License #6502359178

    Listing office RE/MAX Lakeshore 133 Washington Avenue, Holland, MI

    Listing date Jan 19, 2026

    MLS# 26002268

    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.

    HighLights

    • Prime Norton Shores location near I‑96 and US‑31 interchange.
    • Over 2 acres of land.
    • Flexible zoning allows for a wide range of potential uses.
    • Strong visibility and convenient access.
    • Additional 2 acres available for purchase to the south for expansion.
    • Located in front of the Baymont Inn.

    Overview

    Located in Norton Shores, Michigan, this commercial property spans over 2 acres. Currently used as a business office, the site's zoning allows for a wide range of potential uses. The property offers strong visibility and convenient access for employees, clients, and customers. The building has 2,854 square feet of space. An additional 2 acres directly to the south are also available for purchase, presenting an opportunity for expansion or a larger development footprint. The property is located in front of the Baymont Inn.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $349.3K
    NOI $31,441 @ 9.00% cap · cautious / downside scenario
    Moderate
    $449.2K
    NOI $31,441 @ 7.00% cap · market / base-case scenario
    Aggressive
    $628.8K
    NOI $31,441 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Office B

    Component $ $/SF
    Gross rent $48.6k $17.04
    − Vacancy −$6.7k −$2.35
    EGI $41.9k $14.69
    − OpEx −$10.5k −$3.67
    NOI $31.4k $11.02
    2,854 SF · lease $17.04/SF/yr · vacancy 13.80% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $449.2K
    $393.0K – $524.0K (±1% cap)
    NOI $31,441 @ 7.0% cap · market cap 6.55%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Multifamily LT 5
    $35.49M
    $31.05M – $41.41M (±1% cap)
    NOI $2,484,318 @ 7.0% cap · market cap 517.67%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Spaces

    Similar Places Nearby

    • ICS Data — 6470 Grand Haven Rd, Norton Shores, MI 49441

    Map

    City
    Norton Shores
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.1901
    Latitude
    43.1832

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    FAQs

    What type of property is this?
    Office space - 2.13 acre office property in prime Norton Shores location.
    Where is this office space located?
    The property is located at 4631 S Harvey Street Norton Shores, MI.
    What is the asking price?
    The asking price for this property is $479,900.
    What are key features of this property?
    This property features: Prime Norton Shores location near I‑96 and US‑31 interchange.; Over 2 acres of land.; Flexible zoning allows for a wide range of potential uses.
    (616) 638-3900
    We can help!
    Listing Contact
    Sandi L Gentry
    Sandi L Gentry
    Real Estate License ID: 6502359178
    Learn More
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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.

    More about this property
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