Flex Space with Climate-Controlled
For Sale
$1,825,000
3919 N Greenbrooke Dr SE, Kentwood, MI 49512
I-1-zoned facility combines modern office improvements with adaptable warehouse space.
Property Size15,368 SF
Price / SF$118.61
Days on Market513
Property Features for 3919 N Greenbrooke Dr SE
General Information
Standard status
Active
Size
15,368 SF
Total Parking Spaces
34
Property subtype
Industrial
Zoning
I1
Warehouse & Industrial
Power
800 amps
Voltage
208 V
Three-Phase Power
Yes
Conditioned Warehouse
Yes
Additional Details
Highway Access
Yes
Amenities
Water
Sewer
Natural Gas
34 Parking Spaces
Building Details
Year Built
1992
Building Size
15,368 SF
Listing Agency:
Bradley Company
(951) 733-3833
Listed By:
R. Grooters
(951) 733-3833
Source:
Carwm.resimplifi
Added: Apr 4, 2025
Changed: Aug 29
Last Checked: Aug 29 at 11:00AM
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 Bradley Company
Investment Insights
Based on property information with market context.
This flex property in Kentwood includes a climate-controlled warehouse and recently renovated office areas within an industrial building constructed in 1992. The facility is served by 800 Amps at 208Y/120V, 3-phase power, supporting a range of smaller manufacturing and production needs. I-1 zoning is in place.
The property is located at 3919 N Greenbrooke Dr SE, near the M-6 and Broadmoor Avenue intersection. Gerald R. Ford International Airport is less than a mile away, and the site offers access to major transportation routes in the airport submarket. On-site parking and updated office finishes complement the industrial space.
The property is located at 3919 N Greenbrooke Dr SE, near the M-6 and Broadmoor Avenue intersection. Gerald R. Ford International Airport is less than a mile away, and the site offers access to major transportation routes in the airport submarket. On-site parking and updated office finishes complement the industrial space.
Key Highlights
- Climate‑controlled warehouse within a flex property
- 800 Amps of 208Y/120V 3‑phase power
- I‑1 zoning supports industrial property use
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
$87,368
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
4.79%
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%
$1,747,360
$1.7M
Cap Rate 7%
$1,248,114
$1.2M
Cap Rate 9%
$970,756
$970.8K
Market Conditions
NOI Build-Up for 15,386 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
$105.9K $6.88/SF
− Vacancy
−$3.1K −$0.20/SF
EGI
$102.8K $6.68/SF
− OpEx
−$15.4K −$1.00/SF
NOI
$87.4K $5.68/SF
Area
Kent County, MI
Vacancy
2.90%
Lease Rate
$6.88 /SF/Yr
Expense Ratio
15.00%
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%
$1,747,360
Cap Rate 7%
$1,248,114
Cap Rate 9%
$970,756
Alternative Uses
Best Use
Warehouse
$1.25M
$1.09M – $1.46M
NOI $87,368 @ 7.0% cap · market cap 4.79%
Second Best
Industrial
$1.03M
$899.4K – $1.20M
NOI $71,950 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$2.75M
$2.41M – $3.21M
NOI $192,632 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49512, MI
18,558
Population
8,870
Households
2.1
Avg Household Size
33
Median Age
38%
College-Educated
91%
High-School Grad
23.0 sq mi
ZIP Area
807
Density / Sq Mi
$70,955
Median Household Income
$41,538
Median Earnings
$1,229
Median Rent
$279,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - I-1-zoned facility combines modern office improvements with adaptable warehouse space.
Where is this flex space located?
The property is located at 3919 N Greenbrooke Dr SE Kentwood, MI.
What is the asking price?
The asking price for this property is $1,825,000.
What are key features of this property?
This property features: Climate‑controlled warehouse within a flex property; 800 Amps of 208Y/120V 3‑phase power; I‑1 zoning supports industrial property use
