Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3531 Patterson Ave Kentwood, MI 49512

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $501,047

    Prime Kentwood commercial lot, ideal for development.

    Property Features for 3531 Patterson Ave

    General Information

    Property type
    Land

    We can help!

    Listing Contact
    Elliot Muller
    Elliot Muller

    Listing Agency: Ben Muller Realty Listing Agent: Elliot Muller

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 46,609 square foot commercial land parcel is strategically located at 3531 Patterson Ave SE, Unit 3, Kentwood, MI 49512. Zoned CPUD, this property presents a unique investment opportunity within Kent County, Michigan. Its prime location offers unparalleled access to a high-traffic corridor in a major industrial area of the Grand Rapids Metropolitan Statistical Area (MSA). The site benefits from its proximity to Gerald R. Ford International Airport (GRR), less than half a mile away, making it an attractive location for businesses needing convenient airport access. This location is also the closest retail node to the airport, ensuring high visibility and potential customer traffic. Furthermore, the property is adjacent to a planned large-scale industrial development, promising significant future growth and increased property value. The asking price for this exceptional commercial land is $501,047. This presents a compelling opportunity for developers seeking a well-positioned site with strong growth potential in a thriving commercial area. The property's size and zoning make it suitable for a variety of commercial developments, capitalizing on the area's robust industrial and retail activity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Building Supply Hair Salon Auto Repair Shop Big Box & Wholesale Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Kentwood
    County
    Kent
    State
    Michigan
    Longitude
    -85.5486729
    Latitude
    42.898883

    Nearby Similar for Sale

    • $400,000
      Pending

      Kentwood Office with Rental Potential

      Office building in Kentwood with flexible space and income potential.
      3940 29Th St SE, Kentwood, MI 49512
      View Details
    • $450,000
      0.36 Acres

      Kentwood Commercial Property Investment

      Updated Multi-Use Building, High Potential
      3940 29Th St, Kentwood, MI 49512
      View Details
    • $1,595,000
      3,696 SF

      Kentwood Restaurant - $1.6M

      Prime Kentwood restaurant, 3696 sq ft, vacant.
      4550 28Th St, Kentwood, MI 49512
      View Details
    • $2,350,000
      11,180 SF

      Kentwood Convenience Store Investment

      High-traffic location, NNN lease, strong ROI.
      4410 Division Ave, Kentwood, MI 49548
      View Details
    • $1,200,000
      6,840 SF

      Kentwood Retail Property - $1.2M

      High-traffic location, versatile space, great investment.
      1669 44Th St, Kentwood, MI 49508
      View Details
    • $775,000
      12,100 SF

      Kentwood Retail Portfolio: 12,100 SF

      High-traffic Kentwood retail investment. Ample parking & great visibility.
      4437 Eastern Ave, Kentwood, MI 49508
      View Details
    • Contact for pricing

      Corner Unit with Garage

      Two-bedroom unit with garage and screened porch.
      5143 Se #169, Kentwood, MI 49508
      View Details
    • $3,950,000
      17,787 SF

      Former Retail Space on Corner

      Former retail space on a lighted corner intersection available for sale.
      Kentwood, MI 49508
      View Details
    • $3,950,000
      17,787 SF

      Kalamazoo Ave SE Retail Center

      Prime Kentwood Retail Space, 17,787 SF
      5995 Kalamazoo Ave, Kentwood, MI 49508
      View Details

    FAQs

    What type of property is this?
    Land - Prime Kentwood commercial lot, ideal for development.
    Where is this land located?
    The property is located at 3531 Patterson Ave Kentwood, MI.
    What is the asking price?
    The asking price for this property is $501,047.
    What are key features of this property?
    This property features: $501,047 asking price.; 46,609 square foot land parcel.; Commercial land zoned CPUD.
    (616) 456-7114
    Request Owner's contact information
    3531 Patterson Ave Kentwood, MI 49512
    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.
    3531 Patterson Ave
    Kentwood, MI 49512
    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
    3531 Patterson Ave Kentwood, MI 49512
    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

    We can help!
    Listing Contact
    Elliot Muller
    Elliot Muller
    Real Estate License ID: 6501344907
    (616) 456-7114
    Learn more
    Google sign-in failed. Please try again or use another login method.