High-Visibility Retail
For Sale
$450,000
1225 CHICAGO DR, Wyoming, MI 49509
Versatile commercial building with prime frontage on Chicago Drive SW and approximately 3,200 SF of usable space.
Property Size3,200 SF
Price / SF$140.63
Days on Market150
Property Features for 1225 CHICAGO DR
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Industrial
Amenities
3
160115
Building Details
Year Built
1925
Listing Agency:
Lake Michigan Realty Mgmt
(616) 304-1699
Listed By:
Javier Rodriguez
(616) 304-1699
Source:
Xome
Added: Mar 25
Changed: Aug 16
Last Checked: Aug 20 at 4:55AM
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 high-visibility commercial property includes approximately 3,200 SF of usable space in a building originally built in 1925. The layout is described as flexible for customization, supporting a range of commercial uses.
The property is positioned along highly traveled Chicago Drive SW with prime frontage and strong daily traffic exposure. It is also located near major roadways, established businesses, and surrounding residential neighborhoods.
The offering is presented as suitable for retail, office, showroom, service-based business, mixed-use concepts, or investment and redevelopment use, depending on buyer plans.
The property is positioned along highly traveled Chicago Drive SW with prime frontage and strong daily traffic exposure. It is also located near major roadways, established businesses, and surrounding residential neighborhoods.
The offering is presented as suitable for retail, office, showroom, service-based business, mixed-use concepts, or investment and redevelopment use, depending on buyer plans.
Key Highlights
- Approximately 3,200 SF commercial building with versatile space for retail, office, showroom, service, or mixed‑use concepts
- Prime frontage along Chicago Drive SW with high daily traffic exposure
- Originally built in 1925, offering timeless architectural character and functional commercial layout
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,219
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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
NOI $40,064 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Versatile commercial building with prime frontage on Chicago Drive SW and approximately 3,200 SF of usable space.
Where is this storefront property located?
The property is located at 1225 CHICAGO DR 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 commercial building with versatile space for retail, office, showroom, service, or mixed‑use concepts; Prime frontage along Chicago Drive SW with high daily traffic exposure; Originally built in 1925, offering timeless architectural character and functional commercial layout
