Wyoming Commercial Property for
For Sale
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2855 Byron Center Ave SW, Wyoming, MI 49519
5,272 SF commercial property on 1.43 acres in Wyoming.
Property Size5,272 SF
Lot Size1.43 Acres
Price / SF$151.75
Days on Market769
Property Features for 2855 Byron Center Ave SW
General Information
Standard status
Active
Size
5,272 SF
Class
C
Lot size
1.43 Acres
Property subtype
Office
Zoning
B-2
Building Details
Year Built
1970
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Advantage Commercial Real Estate
(616) 774-3500
Listed By:
Gary Albrecht · License #MI 6501370145
Source:
Crexi
Added: Jul 14, 2024
Changed: Aug 17
Last Checked: Aug 20 at 8:47PM
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 Advantage Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at 2855 Byron Center Avenue SW in Wyoming, Michigan, this commercial property offers approximately 5,272 square feet of space on a 1.43-acre lot. Situated near the intersection of 28th Street SW and Byron Center Avenue SW, the building is divided into two units. The larger front unit is currently configured as a chiropractor’s office, while the smaller rear unit includes open space and private offices. The property features several private offices, conference rooms, exam rooms, restrooms, a kitchenette, and a break room. Benefiting from its proximity to I-196 and US-131, the property offers great exposure and is suited for various uses, including a dentist’s office, counseling center, medical clinic, or physical therapy office. The parcel also offers room for expansion.
Key Highlights
- Approximately 5,272 SF on 1.43 acres with room for expansion.
- Convenient location near I‑196 and US‑131 at the intersection of 28th Street SW and Byron Center Avenue SW.
- Currently configured as two separate units, one as a chiropractor's office with open space and private offices in the other.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,677
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,053,540
$1.1M
Cap Rate 7%
$752,529
$752.5K
Cap Rate 9%
$585,300
$585.3K
Market Conditions
NOI Build-Up for 5,272 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$77.2K $14.64/SF
− Vacancy
−$6.9K −$1.32/SF
EGI
$70.2K $13.32/SF
− OpEx
−$17.6K −$3.33/SF
NOI
$52.7K $9.99/SF
Area
Kent County, MI
Vacancy
9.00%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,053,540
Cap Rate 7%
$752,529
Cap Rate 9%
$585,300
Alternative Uses
Best Use
Office B
$752.5K
$658.5K – $878.0K
NOI $52,677 @ 7.0% cap · market cap 6.58%
Second Best
Healthcare Medical
$670.1K
$586.4K – $781.8K
NOI $46,910 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$942.9K
$825.1K – $1.10M
NOI $66,005 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
407
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49519, MI
28,025
Population
11,693
Households
2.4
Avg Household Size
34
Median Age
28%
College-Educated
90%
High-School Grad
8.0 sq mi
ZIP Area
3,503
Density / Sq Mi
$75,373
Median Household Income
$39,240
Median Earnings
$1,176
Median Rent
$220,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 5,272 SF commercial property on 1.43 acres in Wyoming.
Where is this medical office space located?
The property is located at 2855 Byron Center Ave SW Wyoming, MI.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Approximately 5,272 SF on 1.43 acres with room for expansion.; Convenient location near I‑196 and US‑131 at the intersection of 28th Street SW and Byron Center Avenue SW.; Currently configured as two separate units, one as a chiropractor's office with open space and private offices in the other.
