Mixed-Use Building with
For Sale
$329,000
4354 Division Ave S, Kentwood, MI 49548
Corner commercial property combines a street-level storefront, an apartment above, and on-site parking.
Property Size2,920 SF
Price / SF$112.67
Days on Market34
Property Features for 4354 Division Ave S
General Information
Standard status
Active
Size
2,920 SF
Site & Location
Corner Location
Yes
Traffic Count
16,000 vehicles/day
Additional Details
Multifamily Units
1
Building Details
Year Built
1925
Listing Agency:
Rise Realty Group
(616) 439-4653
Listed By:
Chad Monroe
Source:
Katie-k
Added: Jul 28
Changed: Aug 28
Last Checked: Aug 29 at 11:38AM
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 Rise Realty Group
Investment Insights
Based on property information with market context.
This mixed-use property at 4354 Division Ave S combines a retail building with an apartment positioned above the commercial space. Constructed in 1925, the building contains approximately 2,920 square feet and includes parking areas at both the front and rear.
The property occupies the corner of 44th Street and Division in Kentwood, with approximately 16,000 vehicles passing the site daily. Its location provides direct exposure from two streets and supports the existing retail and residential configuration.
The property occupies the corner of 44th Street and Division in Kentwood, with approximately 16,000 vehicles passing the site daily. Its location provides direct exposure from two streets and supports the existing retail and residential configuration.
Key Highlights
- Mixed‑use building with retail space and an apartment above
- Approximately 2,920 square feet of property size
- Corner location at 44th Street and Division
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
$27,653
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
8.41%
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%
$553,060
$553.1K
Cap Rate 7%
$395,043
$395.0K
Cap Rate 9%
$307,256
$307.3K
Market Conditions
NOI Build-Up for 2,920 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
$53.3K $18.24/SF
− Vacancy
−$3.0K −$1.02/SF
EGI
$50.3K $17.22/SF
− OpEx
−$22.6K −$7.75/SF
NOI
$27.7K $9.47/SF
Area
Kent County, MI
Vacancy
5.60%
Lease Rate
$18.24 /SF/Yr
Expense Ratio
45.00%
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%
$553,060
Cap Rate 7%
$395,043
Cap Rate 9%
$307,256
Alternative Uses
Best Use
Mixed Use
$480.0K
$420.0K – $560.0K
NOI $33,602 @ 7.0% cap · market cap 10.21%
Second Best
Retail
$433.0K
$378.9K – $505.2K
NOI $30,312 @ 7.0% cap · market cap 9.21%
Theoretical Best
Office A
$522.3K
$457.0K – $609.3K
NOI $36,558 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
16,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
469
Businesses Nearby
39k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Dining 35%
Home Improvements & Furnishings 13%
Taco Bell
Dining
13,435 visits/mo
0.1 miles
Citgo
Shops & Services
8,112 visits/mo
0.1 miles
Dollar General
Shops & Services
5,396 visits/mo
0.2 miles
Bradley Ace Hardware
Home Improvements & Furnishings
5,099 visits/mo
0.2 miles
Monro Auto Service and Tire Centers
Shops & Services
3,203 visits/mo
0.5 miles
Demographics for 49548, MI
34,741
Population
13,174
Households
2.6
Avg Household Size
34
Median Age
17%
College-Educated
86%
High-School Grad
10.8 sq mi
ZIP Area
3,217
Density / Sq Mi
$62,218
Median Household Income
$35,831
Median Earnings
$1,129
Median Rent
$149,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner commercial property combines a street-level storefront, an apartment above, and on-site parking.
Where is this mixed-use property located?
The property is located at 4354 Division Ave S Kentwood, MI.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Mixed‑use building with retail space and an apartment above; Approximately 2,920 square feet of property size; Corner location at 44th Street and Division
