Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1492 W Grand River Ave Okemos, MI 48864

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    5.53 acre retail development site with existing building.

    Type:Land
    Property size:
    1,948 SF
    Lot size:
    5.53 Acres
    Added:
    Dec 28, 2020
    Days on Market:
    1939
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 1492 W Grand River Ave

    General Information

    Standard status
    Active
    Size
    1,948 SF
    Lot size
    5.53 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Shawn O'Brien

    Listing agent Shawn O'Brien License #MI 6502358107

    Listing office Colliers - Grand Rapids, Michigan

    Listing date Dec 28, 2020

    Source Crexi

    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 Colliers - Grand Rapids, Michigan

    Overview

    Retail Development Site on Grand River

    This 5.53-acre retail development site includes a 1,948 square foot building. The property offers frontage on Grand River Avenue in Okemos, Michigan. It presents a potential development opportunity for a retail destination, a free-standing building, or a mixed-use project.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Okemos
    County
    Ingham
    State
    Michigan
    Longitude
    -84.403475
    Latitude
    42.717283

    Nearby Similar for Sale

    • $345,000
      1,688 SF

      Class A Office Condo in Okemos

      Well-located office condo with flexible use options in Okemos.
      4780 Okemos Road unit: 2, Okemos, MI 48864
      View Details
    • $429,900
      3,632 SF

      Charming Okemos Office Building For Sale

      Classic 2.5-story Cape Cod office building in downtown Okemos.
      4632 Okemos Road, Okemos, MI 48864
      View Details
    • $150,000

      Okemos Land with Nature Preserve

      1.22-acre building site near walking paths and nature views.
      101 Daggertail Lane, Okemos, MI 48864
      View Details
    • $259,000

      Okemos Land in Wind-N-Wood

      3.17 acre lot in established Okemos subdivision.
      346 Wind N Wood Drive, Okemos, MI 48864
      View Details
    • $2,950,000
      44,122 SF

      Okemos Commercial Property For Sale

      Commercial property in Okemos retail corridor with high traffic and visibility.
      1930 W Grand River Avenue, Okemos, MI 48864
      View Details
    • $15
      14,670 SF

      Okemos Class A Office Suites

      Class A office suites available for sale near I-96.
      2121 University Park Dr, Okemos, MI 48864
      View Details
    • $15
      9,036 SF

      Okemos Office Space Near I-96

      Flexible office suites available near I-96 and Okemos Road.
      2378 Woodlake Dr, Okemos, MI 48864
      View Details
    • $15
      12,492 SF

      Class A Okemos Office Building

      Class A office building with ample parking and convenient location.
      3474 Alaiedon Pkwy, Okemos, MI 48864
      View Details
    • $15
      7,218 SF

      Okemos Stand-Alone Office Building

      Stand-alone office building with flexible lease terms and easy access.
      2465 Woodlake Circle, Okemos, MI 48864
      View Details
    • $15
      14,490 SF

      Class A Office Building For Sale

      Finely finished office building with easy I-96 access.
      2365 Woodlake Drive, Okemos, MI 48864
      View Details
    • $15
      12,960 SF

      Okemos Road Commercial Property

      Modern commercial property with prime visibility and accessibility.
      3955 Okemos Rd, Okemos, MI 48864
      View Details
    • $15
      10,909 SF

      Okemos Office Space Available

      Office space for sale near shopping, restaurants, and I-96.
      2469 Woodlake Circle, Okemos, MI 48864
      View Details

    FAQs

    What type of property is this?
    Commercial land - 5.53 acre retail development site with existing building.
    Where is this commercial land located?
    The property is located at 1492 W Grand River Ave Okemos, MI.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: 5.53‑acre retail development site.; Excellent frontage on Grand River Ave.; Potential for retail destination development.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Shawn O'Brien
    Real Estate License ID: MI 6502358107
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!