Technology-Enabled Office
For Sale
$1,250,000
1416 44th Street Southwest, Wyoming, MI 49509
Modern, move-in ready office layout with private offices, meeting space, and open workstations for flexible business use.
Property Size8,183 SF
Days on Market1173
Property Features for 1416 44th Street Southwest
General Information
Standard status
Active
Size
8,183 SF
Property subtype
OFC
Building Details
Building Size
8,183 SF
Year Built
1998
Listing Agency:
Keller Williams GR East
Listed By:
Jason Carpenter · License #6502430921
(616) 334-2630
Source:
Realnex
Added: Jun 27, 2023
Changed: Aug 14
Last Checked: Sep 10 at 6:06AM
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 Keller Williams GR East
Investment Insights
Based on property information with market context.
This modern, technology-enabled office building is designed for a range of day-to-day business operations. The space includes private offices along with conference and meeting rooms, supplemented by collaborative workspaces and open workstation areas. The overall configuration supports both focused work and group meetings, making it adaptable for multiple office functions.
The property is positioned in a convenient and highly accessible location. The building is presented as move-in ready, which can help reduce the time and disruption associated with getting started.
Suitability is broad based on the existing layout and technology-enabled design. It can fit technology users, medical and dental operations, professional services, and call center or administrative teams that need a mix of private work areas and shared meeting space. The open workstation component also supports logistics and other administrative workflows where teams collaborate while maintaining access to dedicated areas for individual responsibilities.
The property is positioned in a convenient and highly accessible location. The building is presented as move-in ready, which can help reduce the time and disruption associated with getting started.
Suitability is broad based on the existing layout and technology-enabled design. It can fit technology users, medical and dental operations, professional services, and call center or administrative teams that need a mix of private work areas and shared meeting space. The open workstation component also supports logistics and other administrative workflows where teams collaborate while maintaining access to dedicated areas for individual responsibilities.
Key Highlights
- Year built: 1998
- Move‑in ready office space with private offices, conference/meeting rooms, and open workstation areas
- Technology‑enabled office environment with collaborative workspaces
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
$81,763
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
6.54%
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%
$1,635,260
$1.6M
Cap Rate 7%
$1,168,043
$1.2M
Cap Rate 9%
$908,478
$908.5K
Market Conditions
NOI Build-Up for 8,183 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
$119.8K $14.64/SF
− Vacancy
−$10.8K −$1.32/SF
EGI
$109.0K $13.32/SF
− OpEx
−$27.3K −$3.33/SF
NOI
$81.8K $9.99/SF
Area
Kent County, MI
Vacancy
9.00%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
25.00%
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%
$1,635,260
Cap Rate 7%
$1,168,043
Cap Rate 9%
$908,478
Alternative Uses
Best Use
Office B
$1.17M
$1.02M – $1.36M
NOI $81,763 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,451 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
354
Businesses Nearby
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Modern, move-in ready office layout with private offices, meeting space, and open workstations for flexible business use.
Where is this office building located?
The property is located at 1416 44th Street Southwest Wyoming, MI.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Year built: 1998; Move‑in ready office space with private offices, conference/meeting rooms, and open workstation areas; Technology‑enabled office environment with collaborative workspaces
