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    850 Nw - Comstock Park, MI 49321

    Sponsored
    For Sale
    $900,000

    1.08-acre commercial lot, Comstock Park, MI

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional 1.08-acre commercial lot, situated at 850 Range Street NW - Lot 3 in Comstock Park, Michigan (zip code 49321), presents a prime investment opportunity. Located within the burgeoning Range at Alpine development, this property benefits from its strategic position along the high-traffic Alpine Avenue retail corridor. The surrounding area includes 73 single-family home sites and 54 planned townhome/condo units, creating a vibrant and growing community. This lot is ideally suited for retail or office development, offering flexibility in lot line adjustments to meet specific needs. The Range at Alpine development plan includes municipal sewer and water services, ensuring convenient infrastructure access. Furthermore, a new traffic signal will be installed at the intersection of Alpine Church and Alpine Avenue, enhancing visibility and accessibility. The site is ready for development, with build-to-suit options available. This property offers significant potential for growth and return on investment in a thriving commercial area. The asking price for this exceptional lot is $900,000.

    Property Features for 850 Nw -

    General Information

    Property type
    Land
    Lot Size
    47,045 SF

    HighLights

    • $900,000 asking price.
    • 1.08‑acre commercial land parcel.
    • Located at 850 Range Street NW, Lot 3, Comstock Park, MI 49321.
    • Situated in the Range at Alpine development, a large‑scale project along the Alpine Avenue retail corridor.
    • Build‑to‑suit options available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Comstock Park
    County
    Kent
    State
    Michigan
    Longitude
    -85.689870487904
    Latitude
    43.051910293384

    Nearby Comparable

    • $1,100,000
      1.00 Acre

      Range at Alpine Commercial Lot

      Prime Comstock Park commercial land.
      850 Nw -, Comstock Park, MI 49321
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    • $500,000
      0.55 Acres

      Comstock Park Commercial Land

      0.55-acre lot, prime Alpine Ave location.
      850 Nw -, Comstock Park, MI 49321
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    • $450,000
      0.92 Acres

      Range at Alpine Commercial Lot

      0.92-acre commercial lot in Comstock Park, MI
      850 Nw -, Comstock Park, MI 49321
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    • $850,000
      1.00 Acre

      Range at Alpine Commercial Lot

      Prime Comstock Park commercial land.
      850 Nw -, Comstock Park, MI 49321
      View Details
    • $2,200,000
      2.80 Acres

      Range Street Commercial Land

      2.8-acre commercial lot in Comstock Park, MI
      850 Nw -, Comstock Park, MI 49321
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    • $400,000
      1.84 Acres

      Range at Alpine Commercial Lot

      1.84-acre commercial lot in Comstock Park, MI
      850 Range St, Comstock Park, MI 49321
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    • $450,000
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      Range at Alpine Commercial Lot

      0.76-acre commercial lot in Comstock Park, MI
      850 Nw -, Comstock Park, MI 49321
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    • $1,200,000
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      Range at Alpine Commercial Lot

      1.67-acre commercial lot in Comstock Park, MI
      850 Nw -, Comstock Park, MI 49321
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    • $750,000
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      Range at Alpine Commercial Lot

      Prime Comstock Park commercial land.
      850 Nw -, Comstock Park, MI 49321
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    • $500,000
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      Comstock Park Commercial Land

      0.46-acre lot, prime location.
      850 Nw -, Comstock Park, MI 49321
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    • $7,200,000
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      Alpine Avenue Retail Center

      Prime Comstock Park retail space, 111,242 SF.
      4273 Alpine Ave, Comstock Park, MI 49321
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    • $950,000

      Newer Self Storage Facility

      Self-storage facility built in 2020 with 72 units.
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    Nearby Similar for Sale

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      Newer Self Storage Facility

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      Alpine Avenue Retail Center

      Prime Comstock Park retail space, 111,242 SF.
      4273 Alpine Ave, Comstock Park, MI 49321
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    • $925,000
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      Comstock Park Storefront - Prime Location

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    FAQs

    What type of property is this?
    Land - 1.08-acre commercial lot, Comstock Park, MI
    Where is this land located?
    The property is located at 850 Nw - Comstock Park, MI.
    What is the asking price?
    The asking price for this property is $900,000.
    What are key features of this property?
    This property features: $900,000 asking price.; 1.08-acre commercial land parcel.; Located at 850 Range Street NW, Lot 3, Comstock Park, MI 49321.
    (616) 327-2614
    Request Owner's contact information
    850 Nw - Comstock Park, MI 49321
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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.

    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
    850 Nw - Comstock Park, MI 49321
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