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    Turnkey Fully Leased Retail Building Title is generated by Realmo AI

    4342 Division Avenue S, Grand Rapids, MI 49548

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    For Sale
    $450,000

    COMMERCIAL - Grand Rapids, MI

    Type:Retail
    Property size:
    5,408 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $83/SF
    Added:
    May 27, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 6 at 12:06 am

    Property Features for 4342 Division Avenue S

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Bathrooms
    2
    Rooms
    Basement, Bathroom 2, Bathroom 1
    Standard status
    Active
    APN
    41-18-19-353-002
    Size
    5,408 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LOT 275 * HOME ACRES
    Tax Annual Amount
    6405

    Utilities

    Utilities
    Natural Gas Available
    Heating system
    Forced Air

    Building Details

    Year built
    1940
    Floors in Building
    1
    Number of units
    2
    Building materials
    Brick

    We can help!

    Listing Contact
    Chad Monroe

    Listing agent Chad Monroe

    Listing office Rise Realty Group 3549 Brandau Drive NE, Grand Rapids, MI

    Listing date May 27, 2026

    MLS# 26026131

    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.

    HighLights

    • Two‑unit, fully leased retail/commercial building at Division Ave S and 44th St in Kentwood.
    • Total building size: 5,000 SF; Unit 1 is 3,224 SF and Unit 2 is 2,184 SF.
    • Current rents: Unit 1 at $2,000/month and Unit 2 at $1,400/month; combined monthly income of $3,400.
    • Annual income listed as $40,800 with built‑in 3% annual increases on both units.
    • Tenant expense structure: gross modified—tenants responsible for all utilities.
    • Brick construction with forced‑air heating; natural gas available; year built: 1940; 24,000–40,000 vehicles pass daily.

    Overview

    This two-unit retail/commercial building is fully occupied and positioned for immediate income. The property includes Unit 1 with 3,224 SF and Unit 2 with 2,184 SF, bringing total building size to approximately 5,000 SF. Both units are under lease, and each features built-in 3% annual escalations, supporting consistent rent growth over time. The tenant expense structure is gross modified, with tenants responsible for utilities.

    The property is located on Division Avenue South and 44th Street in Kentwood, within the Grand Rapids metro area’s high-traffic retail corridor. The site benefits from approximately 24,000–40,000 vehicles passing daily, which can support strong visibility and footfall for day-to-day retail activity.

    For buyers and investors seeking a stabilized, turnkey retail asset, the current fully leased status reduces near-term leasing risk while preserving the ability to benefit from scheduled rent increases. Operators evaluating the property for continued ownership will find a straightforward two-tenant structure and a lease setup that keeps utility responsibility with the tenants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Xclusive Beauty Supplies (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.664304
    Latitude
    42.884714

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    FAQs

    What type of property is this?
    Storefront property - Two fully leased retail units generate immediate income with built-in annual rent increases.
    Where is this storefront property located?
    The property is located at 4342 Division Avenue S Grand Rapids, MI.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Two‑unit, fully leased retail/commercial building at Division Ave S and 44th St in Kentwood.; Total building size: 5,000 SF; Unit 1 is 3,224 SF and Unit 2 is 2,184 SF.; Current rents: Unit 1 at $2,000/month and Unit 2 at $1,400/month; combined monthly income of $3,400.
    (616) 439-4653
    We can help!
    Listing Contact
    Chad Monroe
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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