Flexible Storefront
For Sale
$220,000
3345 REMEMBRANCE RD, Grand Rapids, MI 49534
Compact commercial site with road access and flexibility for retail, food service, coffee, or office operations.
Property Size416 SF
Lot Size0.24 Acres
Price / SF$528.85
Days on Market254
Property Features for 3345 REMEMBRANCE RD
General Information
Standard status
Active
Size
416 SF
Lot size
0.24 Acres
Property subtype
Business Opportunities
Additional Details
Road Access
Yes
Amenities
3
80130
Building Details
Year Built
1963
Buildings
1
Listing Agency:
Eggerding Inc., Arthur K.
(616) 292-5843
Listed By:
James Freiburger
(616) 292-5843
Source:
Xome
Added: Dec 7, 2025
Changed: Aug 17
Last Checked: Aug 18 at 5:22AM
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 Eggerding Inc., Arthur K.
Investment Insights
Based on property information with market context.
This storefront property includes a 476-square-foot commercial building on a 0.239-acre lot. The compact layout is positioned for several small-business applications, including drive-through coffee, food service, retail, or office use. The site also provides room for parking, signage, or outdoor seating, subject to applicable requirements.
Located along a visible commercial corridor, the property offers access to major roads and sits near residential neighborhoods, schools, and other businesses. Built in 1963, the property combines a small building footprint with additional site area for customer access and business support functions.
Located along a visible commercial corridor, the property offers access to major roads and sits near residential neighborhoods, schools, and other businesses. Built in 1963, the property combines a small building footprint with additional site area for customer access and business support functions.
Key Highlights
- 0.239‑acre lot with 10,411 square feet of land area
- 476‑square‑foot commercial building
- Potential applications include drive‑through coffee, food service, retail, or office 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
$6,758
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
3.07%
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%
$135,160
$135.2K
Cap Rate 7%
$96,543
$96.5K
Cap Rate 9%
$75,089
$75.1K
Market Conditions
NOI Build-Up for 416 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
$9.5K $22.80/SF
− Vacancy
−$474 −$1.14/SF
EGI
$9.0K $21.66/SF
− OpEx
−$2.3K −$5.42/SF
NOI
$6.8K $16.25/SF
Area
Grand Rapids, MI
Vacancy
5.00%
Lease Rate
$22.80 /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%
$135,160
Cap Rate 7%
$96,543
Cap Rate 9%
$75,089
Alternative Uses
Best Use
Specialty Retail
$96.5K
$84.5K – $112.6K
NOI $6,758 @ 7.0% cap · market cap 3.07%
Second Best
Retail
$86.1K
$75.4K – $100.5K
NOI $6,030 @ 7.0% cap · market cap 2.74%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
29k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar Tree
Shops & Services
15,050 visits/mo
0.2 miles
Dollar General
Shops & Services
6,943 visits/mo
0.3 miles
Marathon
Shops & Services
6,605 visits/mo
0.1 miles
Demographics for 49534, MI
23,996
Population
9,713
Households
2.5
Avg Household Size
37
Median Age
34%
College-Educated
95%
High-School Grad
35.3 sq mi
ZIP Area
680
Density / Sq Mi
$78,846
Median Household Income
$44,176
Median Earnings
$1,161
Median Rent
$270,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Compact commercial site with road access and flexibility for retail, food service, coffee, or office operations.
Where is this storefront property located?
The property is located at 3345 REMEMBRANCE RD Grand Rapids, MI.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 0.239‑acre lot with 10,411 square feet of land area; 476‑square‑foot commercial building; Potential applications include drive‑through coffee, food service, retail, or office use
