Mixed-Use Building in
For Sale
$279,900
Pending
3981 White St SW, Grandville, MI 49418
Versatile mixed-use building with high visibility and flexible layout.
Property Size1,347 SF
Days on Market312
Property Features for 3981 White St SW
General Information
Standard status
Pending
Size
1,347 SF
Property subtype
Other
Zoning
I-2
Amenities
Vacant
Building Details
Year Built
1876
Listing Agency:
Keller Williams GR East - Commercial
Listed By:
Jason Carpenter · License #6502430921
(616) 334-2630
Source:
Carwm.resimplifi
Added: Nov 18, 2025
Changed: Sep 15
Last Checked: Sep 24 at 6:48AM
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 Keller Williams GR East - Commercial
Investment Insights
Based on property information with market context.
This mixed-use building is located in Grandville, offering strong visibility, walkability, and convenient access to downtown, Rivertown Crossings, and major expressways. The property, with a size of 1347 square feet, is suitable for professional office, service-based business, studio, or boutique-style retail use. The flexible layout includes multiple rooms for offices, reception, or meeting space, with additional upper-level and basement space available for storage or expansion. A detached two-stall garage provides on-site parking or storage. This property is ideal for owner-users or investors seeking a low-impact commercial property in a high-demand location.
Key Highlights
- High‑demand location in the heart of Grandville with strong visibility and walkability.
- Versatile building suitable for various uses: office, service‑based business, studio, or retail.
- Flexible layout with multiple rooms for offices, reception, or meeting space.
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
$15,501
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
5.54%
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%
$310,020
$310.0K
Cap Rate 7%
$221,443
$221.4K
Cap Rate 9%
$172,233
$172.2K
Market Conditions
NOI Build-Up for 1,347 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
$28.8K $21.36/SF
− Vacancy
−$4.0K −$2.95/SF
EGI
$24.8K $18.41/SF
− OpEx
−$9.3K −$6.90/SF
NOI
$15.5K $11.51/SF
Area
Kent County, MI
Vacancy
13.80%
Lease Rate
$21.36 /SF/Yr
Expense Ratio
37.50%
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%
$310,020
Cap Rate 7%
$221,443
Cap Rate 9%
$172,233
Alternative Uses
Best Use
Mixed Use
$221.4K
$193.8K – $258.4K
NOI $15,501 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$240.9K
$210.8K – $281.1K
NOI $16,864 @ 7.0% cap · market cap 6.03%
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
1,000
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile mixed-use building with high visibility and flexible layout.
Where is this mixed-use property located?
The property is located at 3981 White St SW Grandville, MI.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: High‑demand location in the heart of Grandville with strong visibility and walkability.; Versatile building suitable for various uses: office, service‑based business, studio, or retail.; Flexible layout with multiple rooms for offices, reception, or meeting space.
