Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Retail Center Near Lakes Mall Title is generated by Realmo AI

    5103-5363 Harvey Street, Norton Shores, MI 49444

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

    Retail spaces available in shadow-anchored shopping center.

    Type:Retail
    Added:
    Jan 19, 2021
    Days on Market:
    1941
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 5103-5363 Harvey Street

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 5103-5363 Harvey Street Contact us

    We can help!

    Listing Contact
    Brad Rosenberg

    Listing agent Brad Rosenberg License #6501204147

    Listing office Mid-America Real Estate - Michigan, Inc.

    Listing date Jan 19, 2021

    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 Mid-America Real Estate - Michigan, Inc.

    HighLights

    • Shadow‑anchored by Target
    • Anchored by T.J. Maxx, Burlington, HomeGoods, and Hobby Lobby
    • Located directly northwest of a 650,000 square foot mall
    • Sierra Trading Post opened in Fall 2024
    • Close proximity to Meijer, Menards, JCPenney, Dick’s Sporting Goods, and Best Buy
    • Includes other national tenants

    Overview

    This retail center is shadow-anchored by a Target store and is located directly northwest of The Lakes 650,000 square foot mall. The center is anchored by T.J. Maxx, Burlington, HomeGoods, and Hobby Lobby, along with other national tenants. Sierra Trading Post opened in the fall of 2024. The property is in close proximity to Meijer, Menards, JCPenney, Dick’s Sporting Goods, and Best Buy.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shopping centers

    Map

    City
    Norton Shores
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.1901
    Latitude
    43.1832

    Nearby Similar for Lease

    • $10 SF/Yr

      Retail Space in Norton Shores

      Prime retail location in Norton Shores' shopping corridor.
      1476 E Ellis Road, Norton Shores, MI 49444
      View Details
    • $10 SF/Yr

      Office Space in Norton Shores

      Economical office space in a desirable Norton Shores location.
      3535 Park Street, Norton Shores, MI 49444
      View Details
    • $10 SF/Yr

      Norton Shores Office and Storage

      Office and storage space in Norton Shores, Michigan.
      3535 Park Street, Norton Shores, MI 49444
      View Details
    • $10 SF/Yr

      Office Space in Norton Shores

      Economical office space in a desirable Norton Shores location.
      3535 Park Street, Norton Shores, MI 49444
      View Details
    • $9 SF/Yr

      Norton Shores Retail/Office Space

      High-traffic commercial building with flexible space near Lake Michigan.
      499 W Norton Avenue, Norton Shores, MI 49444
      View Details
    • $8 SF/Yr

      Glenside Shopping Center Commercial Space

      Expansive commercial property in Norton Shores with adaptable office and retail.
      1631 W Sherman Boulevard, Norton Shores, MI 49441
      View Details
    • $395/Mo

      Updated Office Spaces Available

      Variety of updated office spaces available for rent.
      433 Seminole Road, Norton Shores, MI 49441
      View Details
    • $10 SF/Yr

      Retail Space in Norton Shores

      Prime retail space in a high-traffic shopping corridor.
      1476 E Ellis Road, Norton Shores, MI 49444
      View Details
    • Contact for pricing

      Retail Space Near The Lakes

      Retail space in high-traffic area near major shopping destination.
      5663-5729 Harvey Street, Norton Shores, MI
      View Details
    • Contact for pricing

      Retail Space Near The Lakes

      Retail space in a high-traffic area near major retailers.
      5601 Harvey Street, Norton Shores, MI
      View Details
    • $14 SF/Yr

      Remodeled Medical Office Space Available

      Recently remodeled 9000 SF medical office space for lease.
      427 Seminole Road, Norton Shores, MI 49444
      View Details
    • Contact for pricing

      Office Space in Norton Shores

      Economical office spaces available in a desirable Norton Shores location.
      3535 Park St, Norton Shores, MI 49444
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail spaces available in shadow-anchored shopping center.
    Where is this shopping center located?
    The property is located at 5103-5363 Harvey Street Norton Shores, MI.
    What are key features of this property?
    This property features: Shadow‑anchored by Target; Anchored by T.J. Maxx, Burlington, HomeGoods, and Hobby Lobby; Located directly northwest of a 650,000 square foot mall
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Brad Rosenberg
    Real Estate License ID: 6501204147
    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
    5103-5363 Harvey Street, Norton Shores, MI 49444
    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!