Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    842 Leonard St Grand Rapids, MI 49504

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime NW Grand Rapids location, high income potential.

    Property Features for 842 Leonard St

    General Information

    Property type
    Individual retail properties

    We can help!

    Listing Contact
    Max Grover

    Listing Agency: MOXIE Listing Agent: Max Grover

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This Grand Rapids, MI storefront property at 842 Leonard St NW offers a unique investment opportunity. The building consists of three distinct areas: a ground floor storefront currently leased as a salon suite (Suite #1, approximately 700 square feet) generating $600 monthly income plus utilities
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Genesis beauty salon Hair Salon

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare 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
    -85.6898197
    Latitude
    42.9850592

    Nearby Similar for Sale

    • New
      $450,000
      1,437 SF

      Riverfront Commercial Condo in Grand Rapids

      Move-in ready commercial condo with river views and trail access.
      801 Monroe Ave NW, Grand Rapids, MI 49503
      View Details
    • $375,000
      Pending

      Grand Rapids Redevelopment Opportunity

      Redevelopment site in high-traffic Grand Rapids corridor.
      4405 Eastern Ave SE, Grand Rapids, MI 49508
      View Details
    • $800,000
      3,506 SF

      Grand Rapids Sports Bar/Nightclub

      Thriving sports bar and nightclub with full-service bar and dining.
      2662 Division Ave S, Grand Rapids, MI 49507
      View Details
    • $600,000
      2,416 SF

      Grand Rapids Commercial Corner Property

      Corner location suitable for owner/operator or redevelopment.
      2960 Division Ave S, Grand Rapids, MI 49548
      View Details
    • $899,900
      12,183 SF

      Mixed-Use Property in Grand Rapids

      High-visibility commercial property with retail, office, and warehouse space.
      3614-3620 Division Ave S, Grand Rapids, MI 49548
      View Details
    • New
      $285,000
      416 SF

      Prime Commercial Property, Grand Rapids

      High-traffic location ideal for drive-thru, retail, or office use.
      3345 Remembrance Rd NW, Grand Rapids, MI 49534
      View Details
    • $1,475,000
      7,316 SF

      Grand Rapids Retail Opportunity

      Retail property in growing Grand Rapids market with development potential.
      407 Turner Ave NW, Grand Rapids, MI 49504
      View Details
    • $4,700,000
      31,761 SF

      Grand Rapids Office/Medical Complex

      Office and medical complex with flexible space in Grand Rapids.
      3264 N Evergreen Dr NE, Grand Rapids, MI 49525
      View Details
    • $400,000
      3,168 SF

      Versatile Commercial Building in Grand Rapids

      Commercial building with versatile space in a prime location.
      1628 Madison Ave SE, Grand Rapids, MI 49507
      View Details
    • $900,000
      4,000 SF

      Versatile Commercial Building in Grand Rapids

      Prime commercial property with 4,000+ sqft in a strategic location.
      1620 Madison Ave SE, Grand Rapids, MI 49507
      View Details
    • $925,000
      3,224 SF

      Grand Rapids Commercial Property

      Versatile commercial building at a bustling Grand Rapids intersection.
      845 4 Mile Rd NW, Grand Rapids, MI 49544
      View Details
    • $6,500,000
      43,216 SF

      Historic Downtown Grand Rapids Building

      Five-story commercial building with leased space and attached parking.
      120 Ottawa Ave NW, Grand Rapids, MI 49503
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Prime NW Grand Rapids location, high income potential.
    Where is this individual retail property located?
    The property is located at 842 Leonard St Grand Rapids, MI.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: Grand Rapids, MI storefront at 842 Leonard St NW, offering a unique investment opportunity.; 700 sq ft ground floor storefront currently leased as a salon suite (Suite #1), generating $600/month in net income.; Building features three distinct areas.
    (616) 453-8181 Call to check price and availability
    Request Owner's contact information
    842 Leonard St Grand Rapids, MI 49504
    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.
    842 Leonard St
    Grand Rapids, MI 49504
    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
    842 Leonard St Grand Rapids, MI 49504
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Max Grover
    Real Estate License ID: 6502431277
    (616) 453-8181
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!