Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Grand Rapids Redevelopment Opportunity Title is generated by Realmo AI

    4877 W River Dr NE, Comstock Park, MI 49321

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    3.25 acres of prime real estate for redevelopment.

    Type:Land
    Lot size:
    3.25 Acres
    Added:
    Mar 23, 2026
    Days on Market:
    60
    Last Refresh:
    Mar 25 at 8:48 am

    Property Features for 4877 W River Dr NE

    General Information

    Standard status
    Active
    Lot size
    3.25 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Rob Anderson

    Listing agent Rob Anderson License #Broker License #6502431279

    Listing office Equity Group of Michigan

    Listing date Mar 23, 2026

    Source Crexi

    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 Equity Group of Michigan

    HighLights

    • 3.25 acres of prime real estate comprised of eleven parcels, ready for redevelopment.
    • High‑traffic location at the corner of West River Drive NE and Pine Island Drive NE, with 20,400 vehicles passing daily.
    • Zoned for a variety of commercial uses, including restaurant, convenience store, gas station, bank, car wash, or drug store.
    • Located in a flourishing commercial hub in NE Grand Rapids, near Lake Michigan Credit Union Ball Park.
    • Exceptional visibility at a busy intersection.
    • Opportunity to create a landmark retail destination.

    Overview

    This 3.25-acre commercial real estate redevelopment opportunity is located near Lake Michigan Credit Union Ball Park at the northwest corner of West River Drive NE and Pine Island Drive NE. The site benefits from high visibility, with 20,400 vehicles passing daily. The property consists of eleven parcels and is zoned for a landmark restaurant, full-service convenience store, gas station, bank, car wash, or drug store. This location offers the potential to create a retail destination that caters to the needs of the thriving community and passing travelers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Comstock Park
    County
    Kent
    State
    Michigan
    Longitude
    -85.6523302
    Latitude
    43.0520634

    Nearby Similar for Sale

    • $1,250,000
      9,884 SF

      Comstock Park Office Building For Sale

      Well-maintained office building with high visibility and ample parking.
      4211 Division Avenue N, Comstock Park, MI 49321
      View Details
    • $848,900
      4,931 SF

      Comstock Park Commercial Building

      Highly visible commercial building with apartments and income potential.
      3955 W River Drive NE, Comstock Park, MI 49321
      View Details
    • $925,000

      Versatile Commercial Property in Grand Rapids

      Commercial property in a bustling Grand Rapids location with versatile zoning.
      845 4 Mile Rd NW, Comstock Park, MI 49544
      View Details
    • $1,250,000
      4,900 SF

      Well-Maintained Office Building For Sale

      Three-suite office building with high visibility and ample parking.
      4211 Division Ave N, Comstock Park, MI 49321
      View Details
    • $1,876,265
      3,793 SF

      Wendy's Restaurant For Sale

      Wendy’s NNN lease with over 11 years remaining.
      4694 W River Drive NE, Comstock Park, MI 49321
      View Details
    • $65,000

      Buildable Lot in Comstock Park

      Buildable lot near shopping, dining, and expressways.
      443 6 Mile Road NW, Comstock Park, MI 49321
      View Details
    • Contact for pricing

      Prime Commercial Auto Shop

      Commercial auto shop on busy Alpine Avenue near I-96.
      4411 Alpine Ave NW, Comstock Park, MI 49321
      View Details
    • $124,900
      613 SF

      Westgate Coach Homes Condo

      Well-maintained 1-bedroom condo with amenities in prime location.
      4577 Tabor NW Road B, Comstock Park, MI 49321
      View Details
    • $849,900
      4,931 SF

      Comstock Park Mixed-Use Investment Opportunity

      Highly visible commercial building with apartments in Comstock Park.
      3955 W River Dr NE, Comstock Park, MI 49321
      View Details
    • $450,000

      Alpine Avenue Development Opportunity

      Commercial land available in high-traffic Alpine Avenue retail corridor.
      850 Range Street NW - Lot 9, Comstock Park, MI 49321
      View Details
    • $5,000,000
      111,242 SF

      Retail Property For Sale/Lease

      Retail property available for sale or lease.
      4273 Alpine Ave NW, Comstock Park, MI 49321
      View Details
    • $1,100,000

      Alpine Avenue Development Opportunity

      Large-scale development site along a retail corridor.
      850 Range Street NW - Lot 11, Comstock Park, MI 49321
      View Details

    FAQs

    What type of property is this?
    Commercial land - 3.25 acres of prime real estate for redevelopment.
    Where is this commercial land located?
    The property is located at 4877 W River Dr NE Comstock Park, MI.
    What is the asking price?
    The asking price for this property is $3,200,000.
    What are key features of this property?
    This property features: 3.25 acres of prime real estate comprised of eleven parcels, ready for redevelopment.; **High‑traffic location** at the corner of West River Drive NE and Pine Island Drive NE, with 20,400 vehicles passing daily.; Zoned for a variety of commercial uses, including restaurant, convenience store, gas station, bank, car wash, or drug store.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Rob Anderson
    Real Estate License ID: Broker License #6502431279
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4877 W River Dr NE, Comstock Park, MI 49321
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!