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    Single-Story Retail Space Title is generated by Realmo AI

    1002 Hall Street Southeast, Grand Rapids, MI 49507

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    Single-story retail with multiple customer entries on an active corridor, suited for retail, service, or experience concepts.

    Type:Retail
    Added:
    May 27, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 6 at 4:10 am

    Property Features for 1002 Hall Street Southeast

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    1920

    Spaces For Lease

    at 1002 Hall Street Southeast Contact us

    We can help!

    Listing Contact
    Danielle Williams

    Listing agent Danielle Williams License #6501463708

    Listing office Fancy Real Estate

    Listing date May 27, 2026

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Fancy Real Estate

    HighLights

    • Single‑story retail building built in 1920 with multiple customer entries
    • Good space flow and layout designed to support retail, service, or experience‑driven concepts
    • At‑grade street presence on Hall Street with attention from the active corridor
    • Space offers flexibility for tenant use with the ability to add signage, finishes, and streetscape improvements
    • Located in Grand Rapids, MI near the Boston Square business community

    Overview

    1002 Hall Street SE is a single-story retail building designed to support a tenant’s day-to-day customer flow. The layout provides a good flow with multiple customer entries, giving flexibility for a range of retail, service, or experience-driven concepts. The space allows room to make it your own through signage, finishes, and streetscape adjustments, without requiring a major buildout to establish presence.

    The property is positioned on Hall Street in an active retail corridor in Grand Rapids. It sits within the Boston Square business community, surrounded by neighborhood-serving retailers and dining, including Della Soul Records, Last Mile Cafe, and 7 Mares Restaurant. The area also places residents and visitors within reach of other Grand Rapids commercial districts such as Eastown, Seymour Square, and Alger Heights.

    For operators seeking a street-facing retail location with multiple entry points and adaptable interior planning, this offering fits retail users that benefit from straightforward access and a flexible layout. The configuration supports different showroom and service arrangements, making it practical for tenants looking to establish a retail storefront while retaining the ability to refine the space as their business evolves.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Similar Places Nearby

    • Maison Lusamba — 1258 Madison Ave SE, Grand Rapids, MI 49507

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.6439756
    Latitude
    42.9409579

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    FAQs

    What type of property is this?
    Storefront property - Single-story retail with multiple customer entries on an active corridor, suited for retail, service, or experience concepts.
    Where is this storefront property located?
    The property is located at 1002 Hall Street Southeast Grand Rapids, MI.
    What are key features of this property?
    This property features: Single‑story retail building built in 1920 with multiple customer entries; Good space flow and layout designed to support retail, service, or experience‑driven concepts; At‑grade street presence on Hall Street with attention from the active corridor
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Danielle Williams
    Real Estate License ID: 6501463708
    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.

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