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    Riverfront Two-Home Estate Title is generated by Realmo AI

    7166/7180 Thornapple River Drive, Caledonia, MI 49316

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    For Sale
    $1,150,000

    MULTI_FAMILY - Caledonia, MI

    Lot size:
    5.80 Acres
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 5:06 pm

    Property Features for 7166/7180 Thornapple River Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Rooms
    Bathroom 4, Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 5, Bedroom 5, Bathroom 3, Laundry Room, Bedroom 4, Basement
    Parking
    8
    Basement
    Crawl Space, Walk-Out Access
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    41-23-09-276-021/41-23-09-276-011
    Lot size
    5.80 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    See Lengthy Legal
    Tax Annual Amount
    9608

    Utilities

    Utilities
    Propane
    Sewer type
    Septic Tank
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Well
    Water front features
    Pond
    Water front
    1

    Building Details

    Year built
    1968
    Number of units
    2
    Building materials
    Brick, Vinyl Siding

    We can help!

    Listing Contact
    Julie A Walter

    Listing agent Julie A Walter

    Listing office RE/MAX of Grand Rapids (FH) 4362 Cascade Road SE Ste 208, Wyoming, MI

    Listing date Jun 4, 2026

    MLS# 26027130 Listing URL

    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 neighboring Thornapple Riverfront properties offered together for nearly 6 acres with 500+ ft of river frontage
    • Includes 2 homes plus a large barn, with Caledonia Schools
    • 7166: walkout ranch with vaulted main living, fireplace, wall of windows, deck access, and a finished lower level
    • 7180: easy main‑floor living with an updated kitchen and bath, large deck, and attached garage
    • Private pond on‑site, plus accessible approach with a ramp
    • Utilities and systems: propane heat, central air, well water, and septic tank; brick and vinyl siding; year built 1968

    Overview

    This offering combines two neighboring riverfront properties for a nearly 6-acre setting, with more than 500 feet of river frontage. The combined estate includes two homes, a private pond, and a large barn. One residence features a walkout ranch design with vaulted main living space, a fireplace, a wall of windows, and deck access, along with a finished lower level that includes a bar area and flexible guest or gathering space. The second home is set up for easy main-floor living, with an updated kitchen and bath, a large deck, and an attached garage. Both properties include private pond elements and a riverfront setting.

    The properties are located at 7166/7180 Thornapple River Drive in Caledonia, within Caledonia Schools (Kent County, Michigan). The package may be evaluated as a single combined estate or considered as separate living options depending on the buyer’s plans.

    For tenants, buyers, or investors looking for flexibility, the configuration supports multiple use scenarios. Owners can live in one home while using the other for guests or overflow living, or keep the two homes operating as separate quarters. The estate’s combination of indoor living space, decks, river frontage, pond setting, and barn supports a range of personal and operational needs, subject to buyer goals and due diligence. Offers are due Monday, June 8 at 2:00 PM. BATVAI.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Real Estate Agency Building Supply Spa & Massage Center Hotel & Motel Daycare Center Travel Agency Pet Grooming Service Florist

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

    Location Insight

    • Map
    • Local Demand
    City
    Caledonia
    County
    Kent
    State
    Michigan
    Longitude
    -85.489312
    Latitude
    42.834625

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    FAQs

    What type of property is this?
    Single family property - Two adjoining riverfront homes with private pond access and a large barn, offering flexible living arrangements.
    Where is this single family property located?
    The property is located at 7166/7180 Thornapple River Drive Caledonia, MI.
    What is the asking price?
    The asking price for this property is $1,150,000.
    What are key features of this property?
    This property features: Two neighboring Thornapple Riverfront properties offered together for nearly 6 acres with 500+ ft of river frontage; Includes 2 homes plus a large barn, with Caledonia Schools; 7166: walkout ranch with vaulted main living, fireplace, wall of windows, deck access, and a finished lower level
    (616) 970-1278
    We can help!
    Listing Contact
    Julie A Walter
    Request Owner's contact information
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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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