Signalized Corner Bank
For Sale
$850,000
4065 Plainfield Avenue Northeast, Grand Rapids, MI 49525
Signalized corner bank site with strong visibility on a busy commercial corridor.
Property Size3,361 SF
Lot Size0.77 Acres
Price / SF$252.90
Days on Market72
Property Features for 4065 Plainfield Avenue Northeast
General Information
Standard status
Active
Size
3,361 SF
Lot size
0.77 Acres
Property subtype
Retail
Listing Agency:
(616) 799-6629
Listed By:
Russ Bono, CCIM · License #MI 6501380200
(616) 799-6629
Source:
Cbre
Added: Jun 3
Changed: Jul 10
Last Checked: Aug 12 at 12:23PM
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 Russ Bono, CCIM
Investment Insights
Based on property information with market context.
This for-sale bank property includes 3,361 SF on a 0.77-acre signalized corner lot designed for high public exposure. The asset is positioned around strong access and visibility characteristics that typically support financial use in retail-oriented settings.
Located on a busy commercial corridor, the site benefits from the corner configuration and signalized frontage, which can support convenient customer approach and prominent street presence. The property’s marketing materials emphasize excellent visibility and access from the main corridor.
For buyers and operators, the key underwriting consideration noted in the listing is a financial institution deed restriction tied to sales involving Fifth Third and Comerica. The remarks further state that those transactions are not scheduled to close until September. Prospective purchasers should review the deed restriction requirements and timing details as part of their due diligence so the property can be appropriately aligned with the intended financial-institution use.
Located on a busy commercial corridor, the site benefits from the corner configuration and signalized frontage, which can support convenient customer approach and prominent street presence. The property’s marketing materials emphasize excellent visibility and access from the main corridor.
For buyers and operators, the key underwriting consideration noted in the listing is a financial institution deed restriction tied to sales involving Fifth Third and Comerica. The remarks further state that those transactions are not scheduled to close until September. Prospective purchasers should review the deed restriction requirements and timing details as part of their due diligence so the property can be appropriately aligned with the intended financial-institution use.
Key Highlights
- 3,361 SF commercial bank site
- 0.77‑acre signalized corner lot
- Located on a busy commercial corridor with strong visibility and access
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
$54,599
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
6.42%
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%
$1,091,980
$1.1M
Cap Rate 7%
$779,986
$780.0K
Cap Rate 9%
$606,656
$606.7K
Market Conditions
NOI Build-Up for 3,361 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
$76.6K $22.80/SF
− Vacancy
−$3.8K −$1.14/SF
EGI
$72.8K $21.66/SF
− OpEx
−$18.2K −$5.42/SF
NOI
$54.6K $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%
$1,091,980
Cap Rate 7%
$779,986
Cap Rate 9%
$606,656
Alternative Uses
Best Use
Specialty Retail
$780.0K
$682.5K – $910.0K
NOI $54,599 @ 7.0% cap · market cap 6.42%
Second Best
Retail
$696.0K
$609.0K – $812.0K
NOI $48,720 @ 7.0% cap · market cap 5.73%
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
729
Businesses Nearby
553
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Caliber Collision
Shops & Services
553 visits/mo
0.1 miles
Demographics for 49525, MI
30,275
Population
12,577
Households
2.4
Avg Household Size
39
Median Age
49%
College-Educated
98%
High-School Grad
23.4 sq mi
ZIP Area
1,294
Density / Sq Mi
$87,969
Median Household Income
$45,740
Median Earnings
$1,335
Median Rent
$292,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Signalized corner bank site with strong visibility on a busy commercial corridor.
Where is this bank located?
The property is located at 4065 Plainfield Avenue Northeast Grand Rapids, MI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 3,361 SF commercial bank site; 0.77‑acre signalized corner lot; Located on a busy commercial corridor with strong visibility and access
