Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    421 N Lafayette St Greenville, MI 48838

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,200,000

    21,000 sq ft retail, office, and warehouse space.

    Lot size:
    2.29 Acres

    Property Features for 421 N Lafayette St

    General Information

    Standard status
    Active
    Lot size
    2.29 Acres

    We can help!

    Listing Contact
    Joni McArthur
    Source: Exprealty

    Listing Agency: EXP Realty (Grand Rapids) Listing Agent: Joni McArthur

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

    Learn more

    Overview

    Versatile Commercial Building in Greenville

    This 21,000 sq. ft. commercial building is located in downtown Greenville. It includes a 9,440 sq. ft. retail area, a 4,349 sq. ft. office space, and a 7,156 sq. ft. warehouse. The warehouse is equipped with eight overhead doors, floor drains, and three heating and air conditioning units. The building features a rubber roof and a modern security system with fencing. Ample loading docks, including a hydraulic loading well, are available. The property is situated on a main road with high visibility and three-phase power. It also includes two paved parking lots and professional landscaping. The property is suitable for expanding, relocating, or starting a new venture, and offers the infrastructure and convenience to support a variety of business needs.
    Location Intelligence

    Current Use by Public Records

    Five Point Holdings Holding Company

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Montcalm
    State
    Michigan
    Longitude
    -85.25354
    Latitude
    43.184486

    Nearby Similar for Sale

    • $2,500,000
      9,300 SF

      Greenville Retail Opportunity

      Well-maintained building in the heart of Greenville with ample parking.
      1205 W Washington St, Greenville, MI 48838
      View Details
    • $549,900
      3,000 SF

      Mixed-Use Property with Garage

      Mixed-use property with commercial building, home, and garage.
      25/29 S Greenville Rd, Greenville, MI 48838
      View Details
    • $339,000
      4,500 SF

      Waterfront Commercial Property in Greenville

      Commercial property on the Flat River with upgrade work completed.
      405 N Franklin St, Greenville, MI 48838
      View Details
    • $220,000
      Pending

      Greenville Duplex with Income Potential

      Downtown Greenville duplex with two units and updated features.
      210 E Washington St, Greenville, MI 48838
      View Details
    • $285,000
      3,240 SF

      Two-Unit Commercial Property on Main Thoroughfare

      Two-unit commercial property with updates and flexible tenant options.
      6548 S Greenville Rd, Greenville, MI 48838
      View Details
    • $600,000
      6,508 SF

      Industrial Building in Greenville's Park

      6,500+ sq ft industrial building on 2 acres.
      512 Industrial Park Dr, Greenville, MI 48838
      View Details
    • $900,000
      3,225 SF

      Established Business with Growth Potential

      Turn-key business opportunity with real estate and expansion potential.
      14100 Old 14 Mile Rd NE, Greenville, MI 48838
      View Details
    • $1,200,000
      21,000 SF

      Versatile Retail and Commercial Building

      21,000 sq ft retail, office, and warehouse space for sale.
      421 N Lafayette St, Greenville, MI 48838
      View Details
    • $339,900
      0.50 Acres

      Two Homes for the Price

      Two homes on a large lot with ample parking.
      11834 W Carson City Rd, Greenville, MI 48838
      View Details
    • $230,000
      1,997 SF

      Downtown Greenville Mixed-Use Property

      Versatile mixed-use property in downtown Greenville, suitable for various ventures.
      200 W Washington St, Greenville, MI 48838
      View Details
    • $899,900
      2,800 SF

      High-Traffic Office Building For Sale

      2800 sqft office building on 2 acres in Greenville.
      10606 W Carson City Rd, Greenville, MI 48838
      View Details
    • $239,999

      Multi-Unit Property Investment Opportunity

      Multi-unit property with updated apartment near downtown and Meijer.
      315 S Cross St, Greenville, MI 48838
      View Details

    FAQs

    What type of property is this?
    Retail space - 21,000 sq ft retail, office, and warehouse space.
    Where is this retail space located?
    The property is located at 421 N Lafayette St Greenville, MI.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: - Prime downtown Greenville location with HIGH VISIBILITY on a main road.; - Versatile 21,000 sq. ft. building suitable for retail, office, and warehouse use.; - Warehouse equipped with EIGHT OVERHEAD DOORS, floor drains, and three HVAC units.
    (616) 894-1550
    Request Owner's contact information
    421 N Lafayette St Greenville, MI 48838
    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.
    421 N Lafayette St
    Greenville, MI 48838
    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
    421 N Lafayette St Greenville, MI 48838
    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
    Joni McArthur
    (616) 894-1550
    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.