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

    94 N Union St Sparta, MI 49345

    Sponsored
    For Lease
    $10 SF/Yr ($5,272 /Mo)

    COMMERCIAL - Sparta, MI

    Type:Office
    Property size:
    6,327 SF
    Lot size:
    0.61 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 4 at 3:06 pm

    Property Features for 94 N Union St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active
    APN
    41-05-14-353-003
    Parking
    20
    Fireplace
    1
    Size
    6,327 SF
    Lot size
    0.61 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air
    Water front features
    Creek
    Water front
    1

    Building Details

    Year built
    1928
    Building materials
    Brick

    We can help!

    Listing Contact
    Chris Botruff

    United Realty Services LLC (616) 965-2304

    Listing agent Chris Botruff (616) 791-1500

    Listing date Feb 4, 2026

    MLS# 26003961

    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

    Cannon Plaza Commercial Space Available

    Located in the historic Cannon Plaza building in Sparta, MI, commercial space is available for rent. The second floor offers 2,100 square feet, including a large main room, break area, and bathroom. Shared use of a common area on the second floor is included. The main floor houses a cafe and artisan store, potentially bringing additional business to the location. The monthly rent is $2,200, with exceptions for businesses with excessive energy use. An additional 610-square-foot space on the third floor includes a bathroom and break area, available for $1,100 per month, with exceptions for energy use. The property boasts views of downtown Sparta and is located across the street from the civic center, between two parks. Sparta hosts numerous events that attract visitors. The adjacent parking lot is being revamped for more entertainment. The second and third floors are not ADA compliant and lack an elevator, but additional space is available on the main floor to meet clients or offer services. The building is situated on a 0.61-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hot Spot Cafe & Coffee Shop Shopscrapbook101.com event Center ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Sparta
    County
    Kent
    State
    Michigan
    Longitude
    -85.706781
    Latitude
    43.162468

    Nearby Similar for Lease

    • $7 SF/Yr
      1,817 SF

      Commercial Property in Sparta, MI

      Commercial property for lease in high-traffic area of Sparta, MI.
      545 State St, Sparta, MI 49345
      View Details
    • $8 SF/Yr

      Retail Space in Sparta Center

      Retail space available in high-traffic Sparta Center Plaza.
      532 South State St, Sparta, MI 49345
      View Details

    FAQs

    What type of property is this?
    Office space - Historic building in Sparta, MI offering commercial space for rent.
    Where is this office space located?
    The property is located at 94 N Union St Sparta, MI.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: - Prime location in downtown Sparta, across from the civic center and between two parks, attracting high foot traffic.; - Historic brick building with character, built in 1928.; - Main floor houses a cafe and artisan store.
    (616) 791-1500
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    94 N Union St Sparta, MI 49345
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    Sparta, MI 49345
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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
    94 N Union St Sparta, MI 49345
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    We can help!
    Listing Contact
    Chris Botruff
    (616) 791-1500
    Learn more
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