Drive-Through Restaurant
For Sale
$220,000
3345 Remembrance Road NW, Grand Rapids, MI 49534
COMMERCIAL - Grand Rapids, MI
Property Size416 SF
Lot Size0.24 Acres
Price / SF$528.85
Days on Market245
Property Features for 3345 Remembrance Road NW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C -3
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Kenowa Hills
Middle school district
Kenowa Hills
High school district
Kenowa Hills
Directions
Take Leonard Street West to Remembrance Rd. Go right on Remembrance and the property is located aprox 1/4 mile on the East side of Remembrance Rd.
Subdivision
Grand Rapids - G
Standard status
Active
APN
41-13-17-476-005
Size
416 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
DIST:86 CITY/MUNI/TWP:WALKER CITY LOT 10 BLK 6 * LEONARD GARDEN HOMESITES
Tax Annual Amount
1096
Legal Description
DIST:86 CITY/MUNI/TWP:WALKER CITY LOT 10 BLK 6 * LEONARD GARDEN HOMESITES
Utilities
Heating system
Forced Air
Building Details
Year built
1963
Floors in Building
1
Number of units
1
Listing Agency:
Eggerding Inc., Arthur K.
(616) 453-7655
Listed By:
James R Freiburger
(616) 453-7655
Added: Dec 10, 2025
Changed: Aug 4
Last Checked: Aug 12 at 12:06PM
MLS# 25061999
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial property is classified as a drive-through restaurant asset and includes a compact building with a bathroom and forced-air heating. The structure was built in 1963 and is offered for sale.
The property is located at 3345 Remembrance Road NW, Grand Rapids, MI 49534. Its classification and existing improvements provide a defined commercial property profile for review by prospective buyers.
The property is located at 3345 Remembrance Road NW, Grand Rapids, MI 49534. Its classification and existing improvements provide a defined commercial property profile for review by prospective buyers.
Key Highlights
- Drive‑through restaurant property classification
- Commercial building constructed in 1963
- Forced‑air heating
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
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
29k
Monthly Visits Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drive through restaurant - Compact commercial building with forced-air heating and a bathroom.
Where is this drive through restaurant located?
The property is located at 3345 Remembrance Road NW 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: Drive‑through restaurant property classification; Commercial building constructed in 1963; Forced‑air heating
