Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Vacant Land in Kentwood Title is generated by Realmo AI

    3781 32nd St SE, Kentwood, MI 49512

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

    Commercial land parcel suitable for hotel or office development.

    Type:Land
    Lot size:
    3.90 Acres
    Added:
    Jun 11, 2021
    Days on Market:
    1806
    Last Refresh:
    May 19 at 9:19 pm

    Property Features for 3781 32nd St SE

    General Information

    Standard status
    Active
    Lot size
    3.90 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Scott Morgan

    Listing agent Scott Morgan License #MI 6502112210

    Listing office Colliers - Grand Rapids, Michigan

    Listing date Jun 11, 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 Colliers - Grand Rapids, Michigan

    HighLights

    • Ideal location for corporate headquarters.
    • Close proximity to the airport.
    • Adjacent to a new hotel development.
    • Suitable for professional office development.
    • Located in the 28th and Broadmoor/East Beltline Corridor.
    • 3.9 acre parcel available.

    Overview

    This vacant land parcel is located in the 28th and Broadmoor/East Beltline Corridor. The 6-acre parcel is being divided, with 2.1 acres allocated for hotel development. The remaining 3.9 acres are available for development as a professional office. The location is suitable for a corporate headquarters and is near the airport. A hotel is being built adjacent to the land, making it ideal for businesses that frequently host meetings with individuals from out of town.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon 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
    -85.572161
    Latitude
    42.905637

    Nearby Similar for Sale

    • $495,000

      Kentwood Duplex: Turnkey Investment Property

      Meticulously renovated duplex generating immediate cash flow in Kentwood, MI.
      418 56th Street SE, Kentwood, MI 49548
      View Details
    • $365,000
      2,920 SF

      Retail Building with Apartment Above

      High-traffic location with excellent exposure and ample parking.
      4354 Division Avenue S, Kentwood, MI 49548
      View Details
    • $350,000

      Kentwood Duplex: Investor Opportunity

      Well-maintained Kentwood duplex, ideal for investors or owner-occupants.
      1735-1737 Sunny Creek Street SE, Kentwood, MI 49508
      View Details
    • $375,000

      Kentwood Two-Unit Income Property

      Versatile two-unit property in Kentwood, offering immediate rental income.
      3209-3211 Coach Lane SE, Kentwood, MI 49512
      View Details
    • $159,900

      Kentwood Land with Creek Frontage

      Private 1.8-acre lot with frontage on Plaster Creek.
      3473 Breezewood Court SE, Kentwood, MI 49512
      View Details
    • $3,990,000
      9,500 SF

      Retail Investment Near Woodland Mall

      Retail space with high visibility and ample parking.
      3094 28th St SE, Kentwood, MI 49512
      View Details
    • $350,000

      Kentwood Duplex: Investor Opportunity

      Well-maintained duplex in Kentwood with two units and large yard.
      1735-1737 Sunny Creek St SE, Kentwood, MI 49508
      View Details
    • $159,900

      Residential Lot in Kentwood, MI

      1.67 acre lot ready for your future home.
      5573 Wing Avenue SE, Kentwood, MI 49512
      View Details
    • $495,000

      Turnkey Duplex with Rental Income

      Meticulously renovated duplex generating income, ideal for investors or owner-occupants.
      418 56th St SE, Kentwood, MI 49548
      View Details
    • $180,000

      Kentwood Land Ready For Development

      Development-ready land in Kentwood with utilities on site.
      2918 32nd Street SE, Kentwood, MI 49512
      View Details
    • $279,900

      Buildable Land in Forest Hills

      2.67 acres in Forest Hills Northern School District.
      4327 Woodside Oaks Drive SE, Kentwood, MI 49546
      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

    FAQs

    What type of property is this?
    Commercial land - Commercial land parcel suitable for hotel or office development.
    Where is this commercial land located?
    The property is located at 3781 32nd St SE Kentwood, MI.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Ideal location for corporate headquarters.; Close proximity to the airport.; Adjacent to a new hotel development.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Scott Morgan
    Real Estate License ID: MI 6502112210
    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
    3781 32nd St SE, Kentwood, MI 49512
    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!