Add Listing
    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

    203 S 3Rd Ave Big Rapids, MI 49307

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $475,000

    Commercial building with development opportunity in high-traffic area.

    Lot size:
    0.87 Acres

    Property Features for 203 S 3Rd Ave

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.87 Acres

    Building Details

    Year built
    1980

    We can help!

    Listing Contact
    Joseph McNally
    Source: Elliman

    Listing Agency: RE/MAX TOGETHER Listing Agent: Joseph McNally

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

    Learn more

    Overview

    Versatile Commercial Building on M-20

    This versatile commercial building offers a development opportunity in a high-traffic area along the M-20 corridor, situated within an opportunity zone. The building features nearly 5000 square feet of floorspace, designed to accommodate multiple businesses or a large operation. A paved parking area provides ample space for over 30 vehicles. Additionally, a 2+ stall garage on a separate lot offers storage or potential business opportunities. A back alley provides access to the rear of the building. A third parcel across the back street is included in the sale, suitable for use as a staging area, additional parking for staff or customers, or further development. The interior layout includes office spaces, a conference room, and multiple bathrooms. The brick exterior provides timeless appeal and requires minimal maintenance.
    Location Intelligence

    Current Use by Public Records

    Western Michigan Legal ... Law Firm Adrianne L. Prentiss, ... Physician Heartland Christian Family ... Counselor

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Big Rapids
    County
    Mecosta
    State
    Michigan
    Longitude
    -85.472456
    Latitude
    43.699802

    Nearby Similar for Sale

    • $425,000
      4,085 SF

      Kelly's Deer Processing Business Opportunity

      Established business with real estate and equipment included in sale.
      19055 12 Mile Rd, Big Rapids, MI 49307
      View Details
    • $900,000
      4,085 SF

      Established Business and Executive Ranch

      Successful business, real estate, and executive ranch package deal.
      19055 12 Mile Rd, Big Rapids, MI 49307
      View Details
    • $645,000
      2,758 SF

      Big Rapids Commercial Building

      Well-maintained commercial building with frontage on the Muskegon River.
      520 S 3Rd Ave, Big Rapids, MI 49307
      View Details
    • $475,000
      4,800 SF

      Versatile Commercial Building in Big Rapids

      Commercial building with development opportunity in high-traffic area.
      203 S 3Rd Ave, Big Rapids, MI 49307
      View Details
    • $319,000
      3,500 SF

      Remodeled Retail Building on M-20

      Turnkey retail building with high visibility on M-20 corridor.
      805 Maple St, Big Rapids, MI 49307
      View Details
    • New
      $250,000
      6,000 SF

      Versatile Commercial Space in Big Rapids

      6000 sqft commercial space with living/office, shop, and storage.
      18470 195Th Ave, Big Rapids, MI 49307
      View Details
    • New
      $250,000
      6,000 SF

      Versatile Flex Space Opportunity

      6000+ sqft flex space on almost 3 acres.
      18470 195Th Ave, Big Rapids, MI 49307
      View Details
    • $392,900
      7,000 SF

      Versatile Commercial Building Near Big Rapids

      Spacious 7000+ sq ft building on main traffic corridor.
      19925 12 Mile Rd, Big Rapids, MI 49307
      View Details
    • $1,200,000
      7,340 SF

      Big Rapids Commercial Opportunity

      Leased commercial building near US 131 interchange in Big Rapids.
      15044 220Th Ave, Big Rapids, MI 49307
      View Details
    • New
      $169,900
      1,208 SF

      Big Rapids Commercial Property

      Commercial property in Big Rapids, zoned for various business uses.
      1129 N State St, Big Rapids, MI 49307
      View Details
    • $169,500
      2,200 SF

      Renovated Commercial Building in Big Rapids

      Renovated 2200 sq ft commercial building with parking.
      605 N State St, Big Rapids, MI 49307
      View Details
    • New
      $699,900
      0.53 Acres

      Historic Victorian Multifamily Opportunity

      Eastlake-style Victorian masterpiece, currently a commercial space with rental units.
      414 Maple St, Big Rapids, MI 49307
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Commercial building with development opportunity in high-traffic area.
    Where is this mixed-use property located?
    The property is located at 203 S 3Rd Ave Big Rapids, MI.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: - Located in a high traffic area on the M-20 corridor; - Opportunity Zone location; - Nearly 5000 square feet of floorspace suitable for multiple businesses
    (616) 307-3026
    Request Owner's contact information
    203 S 3Rd Ave Big Rapids, MI 49307
    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.
    203 S 3Rd Ave
    Big Rapids, MI 49307
    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
    203 S 3Rd Ave Big Rapids, MI 49307
    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
    Joseph McNally
    (616) 307-3026 (231) 629-4100
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!