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    701 68Th St SW Byron Center, MI 49315

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    For Lease
    $8 SF/Yr

    Class B retail space in a busy shopping center.

    We can help!

    Listing Contact
    R. Kyle Grooters
    Source: Bradleyco

    Listing Agent: R. Kyle Grooters

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

    Learn more

    Overview

    Retail Space Near US-131

    Located on the South Side of Grand Rapids, Suites 280 and 310 offer approximately 3,700 square feet of Class B retail space. The 74,197 square foot shopping center is positioned just south of the intersection of M-6 and US-131, minutes south of Downtown Grand Rapids. The location benefits from a strong mix of national and local tenants. Ample parking is available with 1,156 spaces. Traffic counts are 14,194 on 68th Street, 20,078 on US-131, and 54,474 on M6.
    Location Intelligence

    Current Use by Public Records

    Peking Inn Chinese Restaurant Hello Pediatric Therapy Pediatric Clinic Apple Spice Box ... Caterer Bell House Training ... Gym Truck Sales at U-Haul Trailer Dealer

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Byron Center
    County
    Kent
    State
    Michigan
    Longitude
    -85.68112
    Latitude
    42.841037

    Nearby Similar for Lease

    • $8 SF/Yr
      70,934 SF

      Byron Center Executive Suites

      Prime Retail Space, Ample Parking
      701 68Th St, Byron Center, MI 49315
      View Details
    • $25 SF/Yr
      1,600 SF

      Executive Suites, US-131 Corridor

      Modern Office Space, Flexible Lease Options
      395 100Th St, Byron Center, MI 49315
      View Details
    • $22 SF/Yr
      51,000 SF

      Prime Byron Center Office Space

      Class A Office Suites, 3,300-8,085 SF Available
      6500 Byron Center Ave, Byron Center, MI 49315
      View Details
    • $14 SF/Yr
      83,490 SF

      Byron Center Cross Dock Facility

      83,490 SF Industrial Distribution Center
      10151 Division Ave, Byron Center, MI 49315
      View Details
    • $7 SF/Yr

      Byron Center Industrial Space Available

      Industrial space for lease in Byron Center with office space.
      8505 Piedmont Industrial Pk Dr Southwest, Byron Center, MI 49315
      View Details

    FAQs

    What type of property is this?
    Shopping center - Class B retail space in a busy shopping center.
    Where is this shopping center located?
    The property is located at 701 68Th St SW Byron Center, MI.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    What are key features of this property?
    This property features: - Located immediately off the US 131 interchange.; - Strong mix of national and local tenants.; - Ample parking with 1156 spaces.
    (951) 733-3833
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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
    701 68Th St SW Byron Center, MI 49315
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    Listing Contact
    R. Kyle Grooters
    (951) 733-3833
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