2–4 Unit Multifamily
New
For Sale
$259,900
316 SW Lane Ave City Of, Grand Rapids, MI 49504
The multi-unit structure supports owner occupancy alongside potential lease income from additional units.
Property Size1,714 SF
Lot Size0.09 Acres
Price / SF$151.63
Days on Market6
Property Features for 316 SW Lane Ave City Of
General Information
Standard status
Active
Size
1,714 SF
Lot size
0.09 Acres
Property subtype
Multi-Family
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Rch Brokerage Legacy Inc
(248) 440-2268
Listed By:
Oak & Stone Real Estate
(248) 266-0584
Source:
Oakandstonerealestate
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 7:15AM
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 Rch Brokerage Legacy Inc
Investment Insights
Based on property information with market context.
This multifamily property includes a 1,714-square-foot structure built in 1920 and situated on a 3,800-square-foot lot. The configuration is described as accommodating 2 to 4 units, providing a residential income setup with flexibility for owner occupancy and additional lease income.
Located at 316 SW Lane Ave in Grand Rapids, Michigan, the property offers a compact urban residential format. Its physical profile combines an established structure with a multi-unit layout intended for ownership and income-producing use.
Located at 316 SW Lane Ave in Grand Rapids, Michigan, the property offers a compact urban residential format. Its physical profile combines an established structure with a multi-unit layout intended for ownership and income-producing use.
Key Highlights
- 2 to 4‑unit multifamily structure
- 1,714‑square‑foot property built in 1920
- 3,800‑square‑foot lot
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
$16,269
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
6.26%
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%
$325,380
$325.4K
Cap Rate 7%
$232,414
$232.4K
Cap Rate 9%
$180,767
$180.8K
Market Conditions
NOI Build-Up for 1,714 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
$31.5K $18.36/SF
− Vacancy
−$1.9K −$1.10/SF
EGI
$29.6K $17.26/SF
− OpEx
−$13.3K −$7.77/SF
NOI
$16.3K $9.49/SF
Area
Grand Rapids, MI
Vacancy
6.00%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$325,380
Cap Rate 7%
$232,414
Cap Rate 9%
$180,767
Alternative Uses
Best Use
Apartment 5plus
$232.4K
$203.4K – $271.2K
NOI $16,269 @ 7.0% cap · market cap 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$397.8K
$348.1K – $464.1K
NOI $27,844 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
Explore this area
Business Placement
Demographics for 49504, MI
41,249
Population
18,830
Households
2.2
Avg Household Size
33
Median Age
39%
College-Educated
90%
High-School Grad
11.1 sq mi
ZIP Area
3,716
Density / Sq Mi
$68,326
Median Household Income
$41,138
Median Earnings
$1,145
Median Rent
$222,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Multifamily property - The multi-unit structure supports owner occupancy alongside potential lease income from additional units.
Where is this multifamily property located?
The property is located at 316 SW Lane Ave City Of Grand Rapids, MI.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 2 to 4‑unit multifamily structure; 1,714‑square‑foot property built in 1920; 3,800‑square‑foot lot
