Building Details

Year Built 1925

Buildings 1

Building Size 3,200 SF

Listing Agency: Lake Michigan Realty Mgmt

Listed By: Javier Rodriguez · License #6502394655 Show Phone

Source: Katie-k

Added: Aug 15 Changed: Oct 13 Last Checked: Oct 7 at 1:24PM

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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 Lake Michigan Realty Mgmt

Investment Insights

Based on property information with market context.

This storefront property contains approximately 3,200 SF of commercial space and was built in 1925. The existing building is positioned for retail, office, showroom, or service-oriented commercial use, with a configuration that can accommodate a range of business concepts.

The property is located at 1225 Chicago Dr SW in Wyoming, Michigan, along Chicago Drive SW. Its established commercial setting includes nearby businesses and surrounding residential neighborhoods.

Key Highlights

• Approximately 3,200 SF of commercial space
• Storefront property suited for retail, office, showroom, or service use
• Built in 1925

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,219

Cap Rate

7.38%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$664,380 $664.4K

Cap Rate 7%

$474,557 $474.6K

Cap Rate 9%

$369,100 $369.1K

Market Conditions

NOI Build-Up for 3,200 SF

Gross rent

$49.5K $15.48/SF

− Vacancy

−$2.1K −$0.65/SF

EGI

$47.5K $14.83/SF

− OpEx

−$14.2K −$4.45/SF

NOI

$33.2K $10.38/SF

Area

Kent County, MI

Vacancy

4.20%

Lease Rate

$15.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$664,380

Cap Rate 7%

$474,557

Cap Rate 9%

$369,100

Alternative Uses

Best Use

Retail

$474.6K

$415.2K – $553.7K (±1% cap)

NOI $33,219 @ 7.0% cap · market cap 7.38%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$572.3K

$500.8K – $667.7K (±1% cap)

NOI $40,064 @ 7.0% cap · market cap 8.90%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Pharmacy Spa & Massage Center Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

475

Businesses Nearby

23k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 100%

McDonald's Dining

15,065 visits/mo 0.1 miles

Taco Bell Dining

8,002 visits/mo 0.1 miles

Demographics for 49509, MI

28,340

Population

10,611

Households

2.7

Avg Household Size

34

Median Age

19%

College-Educated

85%

High-School Grad

7.3 sq mi

ZIP Area

3,882

Density / Sq Mi

$64,981

Median Household Income

$38,356

Median Earnings

$983

Median Rent

$183,400

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - The building provides commercial space suitable for retail, office, showroom, or service use.

Where is this storefront property located?

The property is located at 1225 Chicago Dr SW Wyoming, MI.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: Approximately 3,200 SF of commercial space; Storefront property suited for retail, office, showroom, or service use; Built in 1925