Wyoming Commercial Property for
2855 Byron Center Ave SW, Wyoming, MI 49519
Call to check price and availability
5,272 SF commercial property on 1.43 acres in Wyoming.
Type:Office
Property size:
5,272 SFLot size:
1.43 AcresPrice / SF:
$151/SF- Added:
- Jul 14, 2024
- Days on Market:
- 678
- Last Refresh:
- May 12 at 9:25 pm
Property Features for 2855 Byron Center Ave SW
General Information
- Standard status
- Active
- Size
- 5,272 SF
- Lot size
- 1.43 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1970
Listing agent Gary Albrecht License #MI 6501370145
Listing office Advantage Commercial Real Estate (616) 774-3500
Listing date Jul 14, 2024
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 Advantage Commercial Real Estate
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.
- Features several private offices, conference rooms, and exam rooms.
- Includes restrooms, a kitchenette, and a break room.
- Great exposure on Byron Center Avenue.
Overview
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.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$585.3K
NOI $52,677 @ 9.00% cap · cautious / downside scenario
Moderate
$752.5K
NOI $52,677 @ 7.00% cap · market / base-case scenario
Aggressive
$1.05M
NOI $52,677 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $77.2k | $14.64 |
| − Vacancy | −$6.9k | −$1.32 |
| EGI | $70.2k | $13.32 |
| − OpEx | −$17.6k | −$3.33 |
| NOI | $52.7k | $9.99 |
5,272 SF · lease $14.64/SF/yr · vacancy 9.00% · expense 25.00%
Alternative Use Scenarios
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 local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Michigan Neuropathy Center
Physician
Kooistra Chiropractic Clinic ...
Alternative Medicine Practice
Kooistra Jared L ...
Alternative Medicine Practice
Kooistra Chiropractic Clinic ...
Alternative Medicine Practice
Gerald B. Kooistra, ...
Alternative Medicine Practice
Location Insight
- Map
- Local Demand
- City
- Wyoming
- County
- Kent
- State
- Michigan
- Longitude
- -85.726859
- Latitude
- 42.911237
Nearby Similar for Sale
FAQs
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.
