Warehouse with Dock
For Sale
$480,030
3404 Busch Drive Southwest, Grandville, MI 49418
Functional industrial space with loading access, substantial clear height, and upgraded electrical service.
Property Size5,000 SF
Lot Size0.18 Acres
Price / SF$96.01
Days on Market90
Property Features for 3404 Busch Drive Southwest
General Information
Standard status
Active
Size
5,000 SF
Lot size
0.18 Acres
Property subtype
Industrial
Warehouse & Industrial
Clear Height
21 ft
Dock-High Doors
1
Drive-In Doors
1
Power
800 amps
Voltage
480 V
Three-Phase Power
Yes
Additional Details
Highway Access
Yes
Listing Agency:
CBRE
(616) 437-7020
Listed By:
Drew Miller
(616) 437-7020
Source:
Cbre
Added: Jun 2
Changed: Aug 29
Last Checked: Aug 29 at 5:24PM
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 CBRE
Investment Insights
Based on property information with market context.
This warehouse contains 5,000 square feet within a 0.18-acre lot and is configured for industrial operations. Loading includes one dock door and one grade-level door measuring 12’ x 14’. Clear height varies from 19 to 21 feet, providing vertical capacity for storage and workflow needs.
The property has 800 Amps of 480V / 3-phase electrical service, along with LED lighting and a floor drain. Access to I-196 supports regional connectivity for industrial users and distribution activity.
The property has 800 Amps of 480V / 3-phase electrical service, along with LED lighting and a floor drain. Access to I-196 supports regional connectivity for industrial users and distribution activity.
Key Highlights
- 5,000 square feet of warehouse space on a 0.18‑acre lot
- One dock door and one 12’ x 14’ grade‑level door
- Clear height ranges from 19 to 21 feet
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
$28,392
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
5.91%
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%
$567,840
$567.8K
Cap Rate 7%
$405,600
$405.6K
Cap Rate 9%
$315,467
$315.5K
Market Conditions
NOI Build-Up for 5,000 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
$34.4K $6.88/SF
− Vacancy
−$998 −$0.20/SF
EGI
$33.4K $6.68/SF
− OpEx
−$5.0K −$1.00/SF
NOI
$28.4K $5.68/SF
Area
Kent County, MI
Vacancy
2.90%
Lease Rate
$6.88 /SF/Yr
Expense Ratio
15.00%
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%
$567,840
Cap Rate 7%
$405,600
Cap Rate 9%
$315,467
Alternative Uses
Best Use
Warehouse
$405.6K
$354.9K – $473.2K
NOI $28,392 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$894.3K
$782.5K – $1.04M
NOI $62,600 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21 ft
Clear height
1
Dock-high doors
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
579
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49418, MI
30,520
Population
12,801
Households
2.4
Avg Household Size
38
Median Age
40%
College-Educated
96%
High-School Grad
19.0 sq mi
ZIP Area
1,606
Density / Sq Mi
$83,485
Median Household Income
$48,260
Median Earnings
$1,218
Median Rent
$296,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- West Michigan Garage Interiors — 3408 Busch Dr SW Ste. F, Grandville, MI 49418
Frequently Asked Questions
What type of property is this?
Warehouse - Functional industrial space with loading access, substantial clear height, and upgraded electrical service.
Where is this warehouse located?
The property is located at 3404 Busch Drive Southwest Grandville, MI.
What is the asking price?
The asking price for this property is $480,030.
What are key features of this property?
This property features: 5,000 square feet of warehouse space on a 0.18‑acre lot; One dock door and one 12’ x 14’ grade‑level door; Clear height ranges from 19 to 21 feet
