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    Grand Rapids Flex Office Space Title is generated by Realmo AI

    2610 Horizon Drive SE, Grand Rapids, MI 49546

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    Premier corporate park with flex office space for lease.

    Type:Office
    Added:
    Apr 5, 2021
    Days on Market:
    1889
    Last Refresh:
    May 12 at 11:02 pm

    Property Features for 2610 Horizon Drive SE

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1990

    Spaces For Lease

    at 2610 Horizon Drive SE Contact us

    120 $9/Mo

    Size
    5,436 SF
    Type
    Office
    Contact us

    130 $11/Mo

    Size
    2,619 SF
    Type
    Office
    Contact us

    210 $11/Mo

    Size
    9,081 SF
    Type
    Office
    Contact us

    We can help!

    Listing Contact
    Quin Rosser

    Listing agent Quin Rosser License #6501401222

    Listing office Hinman

    Listing date Apr 5, 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 Hinman

    HighLights

    • Premier location near I‑96 and M‑6 interchange, offering easy access.
    • High‑tech infrastructure including heavy electrical capacity and redundant fiber optics.
    • Professional management by The Hinman Company, ensuring premium service.
    • Flexible office space options, customizable for various work styles.
    • Convenient access to amenities including ample parking and on‑site FedEx & UPS.
    • Located in a desirable residential community near Woodland Mall.

    Overview

    Located in the Cascade Office Park near the Interstate 96 and M-6 interchange, 2610 Horizon Drive SE in Grand Rapids, Michigan, is a two-story flex-use building suitable for data-intensive businesses due to its heavy electrical infrastructure and fiber-optic network. The building offers traditional, creative, or flex office space in various sizes, designed to foster collaboration and productivity. Situated less than 15 minutes from Downtown Grand Rapids, it balances city access with suburban tranquility. Ongoing capital improvement projects and management ensure tenant satisfaction. The building features a combination of glass and EIFS with architectural accents, lush landscaping at entries, ample parking, outdoor seating, on-site FedEx & UPS Drop Boxes, and public transportation access. Efficient floorplates, forward-thinking office suite design, redundant fiber optics, and access control are available. Suites include zoned HVAC systems and customizable interiors. The location provides access to retail, residential, entertainment, and office amenities, including nearby Woodland Mall. It is positioned in a desirable residential community, convenient for local business owners and executives. Access from Interstate 96 and M-6 simplifies commuting, complemented by ample parking and pedestrian- and bike-friendly routes. Gerald R. Ford International Airport is nearby, offering direct flights to over 30 major markets. The area benefits from a well-educated and growing workforce, with a high percentage of college graduates and projected population growth.
    Property Profile Location Intelligence

    Current Use by Public Records

    Vista Springs Research ... Nursing Home WZPX TV 43 Television Studio Ion Media of Battle ... Professional Services PRGX Consultant Security Benefits Center Corporate Office

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.5434623
    Latitude
    42.9160912

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    FAQs

    What type of property is this?
    Office building - Premier corporate park with flex office space for lease.
    Where is this office building located?
    The property is located at 2610 Horizon Drive SE Grand Rapids, MI.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: Premier location near I‑96 and M‑6 interchange, offering easy access.; High‑tech infrastructure including **heavy electrical capacity and redundant fiber optics**.; Professional management by The Hinman Company, ensuring premium service.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Quin Rosser
    Real Estate License ID: 6501401222
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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.

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