Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    603 N State St Big Rapids, MI 49307

    Sponsored
    For Sale
    $250,000

    COMMERCIAL - Big Rapids, MI

    Type:Retail
    Property size:
    5,000 SF
    Lot size:
    0.12 Acres
    Days on Market:
    5
    Last Refresh:
    Jan 20 at 7:06 am

    Property Features for 603 N State St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2
    Bathrooms
    2
    APN
    541710429012
    Size
    5,000 SF
    Lot size
    0.12 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air

    Building Details

    Year built
    1920
    Floors in Building
    1
    Number of units
    2

    We can help!

    Listing Contact
    Joseph Mcnally

    RE/MAX TOGETHER (231) 629-4100

    Listing agent Joseph McNally (616) 307-3026

    Listing date Jan 16, 2026

    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.

    Learn more

    Property Insight Report

    Overview

    Prime Commercial Property, Big Rapids

    This commercial property is located on a highly traveled road in Mecosta County. The property at 603 State Street includes a white building that can be salvaged or demolished to create space for a new business on the corner lot. The building at 605 State Street is in solid condition and suitable for rental or conversion into various potential uses. The property includes half of the parking lot on the east side. The lot size is 0.12 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Subway Caterer

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Big Rapids
    County
    Mecosta
    State
    Michigan
    Longitude
    -85.484476
    Latitude
    43.704859

    Nearby Similar for Sale

    • $1,199,000
      6,075 SF

      Downtown Big Rapids Restaurant Opportunity

      Fully operational restaurant with rental apartments and retail space.
      119 N Michigan Ave, Big Rapids, MI 49307
      View Details
    • $1,200,000
      7,340 SF

      Big Rapids Medical Office Building

      Leased through August 2025, potential for various uses.
      15044 220Th Ave, Big Rapids, MI 49307
      View Details
    • $271,900
      0.17 Acres

      Big Rapids Multifamily Investment Property

      Three-unit building near Ferris State University with potential for expansion.
      117 S Warren Ave, Big Rapids, MI 49307
      View Details
    • $279,000
      1.30 Acres

      Big Rapids Duplex Investment Opportunity

      Duplex near Ferris State University with income potential.
      10765 Northland Dr, Big Rapids, MI 49307
      View Details
    • $475,000
      0.87 Acres

      Residential Development Opportunity, Big Rapids

      Approved development site for up to 6 residential units.
      203 S 3Rd Ave, Big Rapids, MI 49307
      View Details
    • $339,900
      Pending

      Remodeled Office Building with Workshop

      Remodeled office building featuring a workshop, storage, and ample parking.
      110 N Bronson Ave, Big Rapids, MI 49307
      View Details
    • $392,900
      7,000 SF

      Versatile Commercial Building Near Big Rapids

      Spacious 7000+ sq ft building on main traffic corridor.
      19925 12 Mile Rd, Big Rapids, MI 49307
      View Details
    • $319,000
      3,500 SF

      Remodeled Retail Building on M-20

      Turnkey retail building with high visibility on M-20 corridor.
      805 Maple St, Big Rapids, MI 49307
      View Details
    • $189,900
      Pending

      Big Rapids Two-Family Home

      Two-unit home near Ferris State University with rental history.
      409 Marion Ave, Big Rapids, MI 49307
      View Details
    • $250,000
      1,763 SF

      Commercial Building in Big Rapids

      Commercial building suitable for office, assisted living, or daycare.
      10255 Northland Dr, Big Rapids, MI 49307
      View Details
    • New
      $169,500
      2,200 SF

      Renovated Commercial Building in Big Rapids

      Renovated 2200 sq ft commercial building with parking.
      605 N State St, Big Rapids, MI 49307
      View Details
    • $175,000
      1,208 SF

      Commercial Property in Big Rapids

      Commercial property in high-traffic area, suitable for various businesses.
      1129 N State St, Big Rapids, MI 49307
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial property on a highly traveled road, development opportunity.
    Where is this commercial land located?
    The property is located at 603 N State St Big Rapids, MI.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: - Prime commercial property location on a highly traveled road in Mecosta County.; - Development opportunity: existing structure at 603 State can be salvaged or demolished for new construction.; - 605 State is in solid condition and ready for rental or conversion.
    (616) 307-3026
    Request Owner's contact information
    603 N State St Big Rapids, MI 49307
    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.
    603 N State St
    Big Rapids, MI 49307
    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
    603 N State St Big Rapids, MI 49307
    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

    We can help!
    Listing Contact
    Joseph Mcnally
    (616) 307-3026
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.