Prime Commercial Property on
For Sale
$1,700,000
2031 4 Mile Road, Grand Rapids, MI 49544
Corner commercial property with acreage, frontage, and development potential.
Property Size8,882 SF
Lot Size17.40 Acres
Days on Market209
Property Features for 2031 4 Mile Road
General Information
Standard status
Active
Size
8,882 SF
Lot size
17.40 Acres
Property subtype
Commercial
Zoning
C-4
Taxes and HOA fees
Annual Taxes
$10,242
Building Details
Building Size
8,882 SF
Year Built
1900
Buildings
7
Stories
1
Units
1
Listing Agency:
City2Shore Real Estate Inc.
(616) 648-2030
Listed By:
Shawn A Schultz
(616) 648-2030
Source:
Irishhillsfivestarhomes
Added: Jan 26
Changed: Aug 23
Last Checked: Aug 22 at 11:40AM
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 City2Shore Real Estate Inc.
Investment Insights
Based on property information with market context.
This commercial property is located on the corner of Baumhoff Ave and 4 Mile Rd. The sale includes three parcels totaling 17.4 acres, featuring two houses and storage sheds. The property offers over 1280 feet of frontage on 4 Mile Rd, which has approved overlays for future road widening. It is zoned C-4, allowing for various uses such as retail stores, professional buildings, and motels. The property is located less than a mile from I-96 freeway and less than 2 miles from Alpine Ave. Recent area growth includes a FedEx shipping/warehousing facility across the street, a Michigan State Police Regional Office, the Kent County Road Commission, and an Amazon facility. Divisions are available from the parent tract, resulting in four parcels to be verified with the Township. The vacant land or the entire property can be used to build various commercial establishments.
Key Highlights
- Prime commercial property with C‑4 zoning, great for retail, professional buildings, or motels.
- Boasting 17.4 acres across 3 parcels, offering substantial development potential.
- Over 1280 feet of frontage on 4 Mile Rd, providing excellent visibility.
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
$128,752
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
7.57%
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%
$2,575,040
$2.6M
Cap Rate 7%
$1,839,314
$1.8M
Cap Rate 9%
$1,430,578
$1.4M
Market Conditions
NOI Build-Up for 8,882 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
$195.0K $21.96/SF
− Vacancy
−$11.1K −$1.25/SF
EGI
$183.9K $20.71/SF
− OpEx
−$55.2K −$6.21/SF
NOI
$128.8K $14.50/SF
Area
Grand Rapids, MI
Vacancy
5.70%
Lease Rate
$21.96 /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%
$2,575,040
Cap Rate 7%
$1,839,314
Cap Rate 9%
$1,430,578
Alternative Uses
Best Use
Retail
$1.84M
$1.61M – $2.15M
NOI $128,752 @ 7.0% cap · market cap 7.57%
Second Best
Hotel Hospitality
$700.1K
$612.6K – $816.8K
NOI $49,007 @ 7.0% cap · market cap 2.88%
Theoretical Best
Specialty Retail
$2.06M
$1.80M – $2.40M
NOI $144,288 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
BIGGBY COFFEE
Dining
5,982 visits/mo
0.4 miles
Demographics for 49544, MI
9,514
Population
4,195
Households
2.3
Avg Household Size
35
Median Age
34%
College-Educated
94%
High-School Grad
19.9 sq mi
ZIP Area
478
Density / Sq Mi
$69,706
Median Household Income
$43,785
Median Earnings
$1,119
Median Rent
$247,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Corner commercial property with acreage, frontage, and development potential.
Where is this commercial land located?
The property is located at 2031 4 Mile Road Grand Rapids, MI.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Prime commercial property with C‑4 zoning, great for retail, professional buildings, or motels.; Boasting 17.4 acres across 3 parcels, offering substantial development potential.; Over 1280 feet of frontage on 4 Mile Rd, providing excellent visibility.
