Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Warehouse, Retail, and Industrial Space Title is generated by Realmo AI

    2700 Northern Dr SE, Grand Rapids, MI 49512

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

    Leasable space with fenced outdoor storage near I-96.

    Type:Industrial
    Property size:
    5,689 SF
    Added:
    Oct 25, 2023
    Days on Market:
    940
    Last Refresh:
    May 12 at 10:03 pm

    Property Features for 2700 Northern Dr SE

    General Information

    Standard status
    Active
    Size
    5,689 SF
    Property subtype
    Industrial

    Spaces For Lease

    at 2700 Northern Dr SE Contact us

    $12/Mo

    Size
    5,689 SF
    Type
    Industrial
    Contact us

    We can help!

    Listing Contact
    Quin Rosser

    Listing agent Quin Rosser License #6501401222

    Listing office Hinman

    Listing date Oct 25, 2023

    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

    • Large fenced outdoor storage area (approx. 20,516 SF)
    • Suitable for light industrial, warehouse, or retail use
    • 5,689 SF main building
    • Excellent location near 28th Street SE and Interstate 96
    • Leasable space available
    • Opportunity for various business types

    Overview

    This property presents an opportunity for light industrial, warehouse, or retail businesses. The leasable space includes a 5,689 square foot main building, accompanied by approximately 20,516 square feet of fenced outdoor storage area. The property is located near 28th Street SE and Interstate 96.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Similar Places Nearby

    • Iron Mountain — 5333 33rd St SE, Grand Rapids, MI 49512

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.5430118
    Latitude
    42.9146939

    Nearby Similar for Lease

    • $19 SF/Yr
      965 SF

      Grand Rapids Commercial Space For Rent

      Medical or office space in high-traffic Plainfield corridor.
      4270 Plainfield Avenue NE, Grand Rapids, MI 49525
      View Details
    • $18 SF/Yr
      10,003 SF

      Division Avenue Commercial Spaces Available

      Prime downtown Grand Rapids location with flexible commercial spaces.
      111 Division Avenue N, Grand Rapids, MI 49503
      View Details
    • $16 SF/Yr
      3,707 SF

      Grand Rapids Commercial Lease Opportunity

      Open-box commercial space in high-traffic Grand Rapids location.
      1163 Giddings Avenue SE, Grand Rapids, MI 49506
      View Details
    • $1,744/Mo
      1,520 SF

      Stand-Alone Building in High-Traffic Area

      Stand-alone building with high visibility and convenient parking.
      4110 Lake Michigan Drive NW, Grand Rapids, MI 49534
      View Details
    • $49 SF/Yr
      10,722 SF

      Grand Rapids Commercial Space

      Commercial space available for lease in Grand Rapids, Michigan.
      25 N Park Street NW, Grand Rapids, MI 49544
      View Details
    • $10 SF/Yr
      5,000 SF

      Two-Story Office Building For Rent

      Two-story office building with elevator and handicap access for rent.
      825 Leonard Street NE, Grand Rapids, MI 49503
      View Details
    • $28 SF/Yr
      600 SF

      Retail Space in Grand Rapids

      Retail space available for lease in Grand Rapids, Michigan.
      456 Leonard Street NW, Grand Rapids, MI 49504
      View Details
    • $13 SF/Yr
      4,000 SF

      Remodeled Retail Space Near GVSU

      Remodeled commercial space near GVSU with parking and signage.
      4163 Lake Michigan Drive NW, Grand Rapids, MI 49534
      View Details
    • $18 SF/Yr
      3,126 SF

      Modern Retail Suites in Grand Rapids

      New retail suites available in a growing commercial district.
      1010 Cesar E Chavez Avenue SW, Grand Rapids, MI 49503
      View Details
    • $18 SF/Yr
      1,760 SF

      Free-Standing Building in Vibrant Corridor

      Charming 1930 building in high-traffic, walkable Grand Rapids location.
      1052 Wealthy St SE, Grand Rapids, MI 49506
      View Details
    • $129-$4,336/Mo
      11-1,292 SF

      MI, Grand Rapids - Peninsular Dr

      3940 Peninsular Dr, Unit 2ND, Grand Rapids, MI 49546
      View Details
    • $14 SF/Yr
      11,972 SF

      Hall Street Retail/Office Opportunity

      Prime end-cap space on Hall Street, Grand Rapids.
      110 Hall Street SW, Grand Rapids, MI 49507
      View Details

    FAQs

    What type of property is this?
    Warehouse - Leasable space with fenced outdoor storage near I-96.
    Where is this warehouse located?
    The property is located at 2700 Northern Dr SE Grand Rapids, MI.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Large fenced outdoor storage area (approx. 20,516 SF); Suitable for light industrial, warehouse, or retail use; 5,689 SF main building
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Quin Rosser
    Real Estate License ID: 6501401222
    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
    2700 Northern Dr SE, Grand Rapids, 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!