Building Details

Year Built 1959

Listing Agency: 1st Advantage Realty Show Phone

Listed By: Rene Guzman · License #6501383944 Show Phone

Source: Goodhomemi

Added: Oct 9 Changed: Oct 28 Last Checked: Oct 28 at 4:34PM

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Investment Insights

Based on property information with market context.

This automotive property contains 15,000 square feet and is currently operating as a tire shop. The building dates to 1959.

The property is located at 5318-5330 Division Avenue S in Kentwood, Michigan, along a commercial corridor.

Key Highlights

• 15,000 square feet of commercial space
• Currently operating as a tire shop
• Built in 1959

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$70,145

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,402,900 $1.4M

Cap Rate 7%

$1,002,071 $1.0M

Cap Rate 9%

$779,389 $779.4K

What to ask about pricing

Market Conditions

NOI Build-Up for 15,000 SF

Gross rent

$103.2K $6.88/SF

− Vacancy

−$3.0K −$0.20/SF

EGI

$100.2K $6.68/SF

− OpEx

−$30.1K −$2.00/SF

NOI

$70.1K $4.68/SF

Area

Kent County, MI

Vacancy

2.90%

Lease Rate

$6.88 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,402,900

Cap Rate 7%

$1,002,071

Cap Rate 9%

$779,389

Alternative Uses

Best Use

Retail

$2.22M

$1.95M – $2.60M (±1% cap)

NOI $155,713 @ 7.0% cap · market cap 1,557,130.00%

Second Best

Industrial

$1.00M

$876.8K – $1.17M (±1% cap)

NOI $70,145 @ 7.0% cap · market cap 701,450.00%

Theoretical Best

Office A

$2.68M

$2.35M – $3.13M (±1% cap)

NOI $187,799 @ 7.0% cap · market cap 1,877,990.00%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Auto shops

Suggested Use

Top Pick Real Estate Agency Dental Office Gym & Fitness Center Storage Facility Grocery & Convenience Store Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

435

Businesses Nearby

316k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Superstores 37% Dining 21% Shops & Services 18% Home Improvements & Furnishings 12%

Walmart Superstores

102,623 visits/mo 0.5 miles

The Home Depot Home Improvements & Furnishings

36,693 visits/mo 0.4 miles

Kum & Go Shops & Services

25,361 visits/mo 0.1 miles

Aldi Groceries

23,788 visits/mo 0.4 miles

Culver's Dining

23,519 visits/mo 0.3 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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Auto shop - The existing tire shop occupies a substantial commercial space along Division Avenue.

Where is this auto shop located?

The property is located at 5318-5330 Division Avenue S Kentwood, MI.

What are key features of this property?

This property features: 15,000 square feet of commercial space; Currently operating as a tire shop; Built in 1959