This exceptional office space in Grand Rapids, Michigan, offers a diverse range of solutions for businesses of all sizes. Located at 3940 Peninsular Dr SE, 49546, in Kent County, this property provides multiple tenancy options within a modern setting. The space caters to various needs, including traditional office setups, executive suites, coworking areas, medical offices, and creative workspaces. Businesses can choose from fully furnished and equipped private offices, scalable from single-person setups to large corporate spaces, tailored to specific requirements. These options range from serviced offices to custom designs, even including disaster recovery spaces and day offices. A comprehensive benefits program, featuring exclusive discounts and procurement support, is also available. Beyond private offices, the location offers coworking spaces, providing a collaborative and social work environment with both dedicated desks and hot-desking options. Meeting rooms are also available, ranging from informal chat spaces with Wi-Fi to larger venues suitable for presentations, training sessions, interviews, board meetings, or conferences, bookable by the hour or for extended periods. Virtual office solutions are also offered, providing prestigious business addresses, mail handling, and professional virtual assistant services, including lounge access and occasional office use. Flexible working plans provide access to a global network of workspaces, allowing for seamless transitions between locations. This property presents a unique opportunity to secure a workspace that perfectly aligns with your business's current and future needs.
Property Features for 3940 Peninsular Dr
General Information
Property type
Office space
Lease Type
Gross Lease
RSF (Rentable sq. ft)
6,249 SF
Unit(s) available at that property
Space
Virtual Office
Size
54 SF
Rate per SF
$41
Space
Flexible coworking membership
Size
108 SF
Rate per SF
$13
Space
Flexible office membership
Size
108 SF
Rate per SF
$24
Space
Private office for 1 person
Size
538 SF
Rate per SF
$9
Space
Private office for 2 people
Size
538 SF
Rate per SF
$13
Space
Private office for 3 people
Size
646 SF
Rate per SF
$17
Space
Private office for 4 people
Size
646 SF
Rate per SF
$22
Space
Private office for 5 people
Size
807 SF
Rate per SF
$22
Space
Open plan office space for + 10 people
Size
1,184 SF
Rate per SF
$21
Space
Open plan office space for + 15 people
Size
1,292 SF
Rate per SF
$25
Space
Coworking space
Size
328 SF
Rate per SF
$5
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Listing Contact
Heartland 2 Regus US
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Property Insight Report
HighLights
Fully furnished and equipped private offices, scalable for businesses of all sizes, including disaster recovery and day office options.
Coworking spaces with dedicated desks and hot‑desking options.
Meeting rooms of various sizes, bookable by the hour or longer.
Virtual office solutions with prestigious business addresses, mail handling, and virtual assistant services.
Flexible membership options with access to a global network of workspaces.
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Office space - Flexible office solutions in Kent County.
Where is this office space located?
The property is located at 3940 Peninsular Dr Grand Rapids, MI.
What is the lease rate?
The lease rate is $5-$41 SF/Yr.
What are key features of this property?
This property features: Fully furnished and equipped private offices, scalable for businesses of all sizes, including disaster recovery and day office options.; Coworking spaces with dedicated desks and hot-desking options.; Meeting rooms of various sizes, bookable by the hour or longer.
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3940 Peninsular Dr Grand Rapids, MI 49546
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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.
More about this property
3940 Peninsular Dr Grand Rapids, MI 49546
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3940 Peninsular Dr, Grand Rapids, MI
Contact
Heartland 2 Regus US
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3940 Peninsular Dr, Grand Rapids, MI
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3940 Peninsular Dr, Grand Rapids, MI
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3940 Peninsular Dr, Grand Rapids, MI
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3940 Peninsular Dr, Grand Rapids, MI
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Listing Contact
Heartland 2 Regus US
Real Estate License ID: FLBO
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