Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    850 Nw - Comstock Park, MI 49321

    Sponsored
    For Sale
    $500,000

    0.55-acre lot, prime Alpine Ave location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    This exceptional 0.55-acre commercial lot is situated in the burgeoning Range at Alpine development along the high-traffic Alpine Avenue retail corridor in Comstock Park, Michigan (zip code 49321). The property is part of a larger mixed-use project encompassing single-family homes, townhomes/condos, and a planned age-restricted apartment complex. This lot presents a unique opportunity for retail or office development. The site benefits from municipal sewer and water services, and a new traffic signal will be installed at the intersection of Alpine Church and Alpine Avenue, enhancing visibility and accessibility. The developer is prepared to accommodate build-to-suit options, allowing for flexibility in lot configuration to meet specific business needs. This is an ideal location for businesses seeking high visibility and convenient access to a growing residential community. The lot is ready for development, offering a streamlined path to establishing a presence in this thriving area of Comstock Park. The address is 850 Range Street NW - Lot 5.

    Property Features for 850 Nw -

    General Information

    Property type
    Land
    Lot Size
    23,958 SF

    We can help!

    Listing Contact
    David Rapp
    David Rapp

    Learn more

    HighLights

    • 0.55‑acre commercial lot in Comstock Park, MI (49321), located on high‑traffic Alpine Avenue.
    • Part of a mixed‑use development including residential components.
    • Suitable for retail or office development.
    • Municipal sewer and water available; new traffic signal planned at Alpine Church and Alpine Avenue intersection.
    • Developer offers build‑to‑suit options.
    • 850 Range Street NW - Lot 5.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Comstock Park
    County
    Kent
    State
    Michigan
    Longitude
    -85.689870487904
    Latitude
    43.051910293384

    Nearby Comparable

    • $1,100,000
      1.00 Acre

      Range at Alpine Commercial Lot

      Prime Comstock Park commercial land.
      850 Nw -, Comstock Park, MI 49321
      View Details
    • $900,000
      1.08 Acres

      Range Street Commercial Land

      1.08-acre commercial lot, Comstock Park, MI
      850 Nw -, Comstock Park, MI 49321
      View Details
    • $450,000
      0.92 Acres

      Range at Alpine Commercial Lot

      0.92-acre commercial lot in Comstock Park, MI
      850 Nw -, Comstock Park, MI 49321
      View Details
    • $850,000
      1.00 Acre

      Range at Alpine Commercial Lot

      Prime Comstock Park commercial land.
      850 Nw -, Comstock Park, MI 49321
      View Details
    • $2,200,000
      2.80 Acres

      Range Street Commercial Land

      2.8-acre commercial lot in Comstock Park, MI
      850 Nw -, Comstock Park, MI 49321
      View Details
    • $400,000
      1.84 Acres

      Range at Alpine Commercial Lot

      1.84-acre commercial lot in Comstock Park, MI
      850 Range St, Comstock Park, MI 49321
      View Details
    • $450,000
      0.76 Acres

      Range at Alpine Commercial Lot

      0.76-acre commercial lot in Comstock Park, MI
      850 Nw -, Comstock Park, MI 49321
      View Details
    • $1,200,000
      1.67 Acres

      Range at Alpine Commercial Lot

      1.67-acre commercial lot in Comstock Park, MI
      850 Nw -, Comstock Park, MI 49321
      View Details
    • $750,000
      1.00 Acre

      Range at Alpine Commercial Lot

      Prime Comstock Park commercial land.
      850 Nw -, Comstock Park, MI 49321
      View Details
    • $500,000
      0.46 Acres

      Comstock Park Commercial Land

      0.46-acre lot, prime location.
      850 Nw -, Comstock Park, MI 49321
      View Details
    • $7,200,000
      111,242 SF

      Alpine Avenue Retail Center

      Prime Comstock Park retail space, 111,242 SF.
      4273 Alpine Ave, Comstock Park, MI 49321
      View Details
    • $950,000

      Newer Self Storage Facility

      Self-storage facility built in 2020 with 72 units.
      5625 Alpine Ave NW, Comstock Park, MI 49321
      View Details

    Nearby Similar for Sale

    • $849,900
      4,931 SF

      Comstock Park Commercial Building

      Highly visible commercial building with apartments and showroom.
      3955 W River Dr NE, Comstock Park, MI 49321
      View Details
    • Contact for pricing
      3,500 SF

      Former Restaurant Space For Sale

      3,500 SF former restaurant space available for sale.
      4076 Alpine Ave NW, Comstock Park, MI 49321
      View Details
    • $950,000

      Newer Self Storage Facility

      Self-storage facility built in 2020 with 72 units.
      5625 Alpine Ave NW, Comstock Park, MI 49321
      View Details
    • $1,250,000
      9,484 SF

      Comstock Park Medical Office Building

      9,484 SF Medical Office, $1.25M
      4211 Division Ave, Comstock Park, MI 49321
      View Details
    • $7,200,000
      111,242 SF

      Alpine Avenue Retail Center

      Prime Comstock Park retail space, 111,242 SF.
      4273 Alpine Ave, Comstock Park, MI 49321
      View Details
    • $925,000
      0.84 Acres

      Comstock Park Storefront - Prime Location

      Established Business, High Revenue Potential, 0.84 Acres
      4765 River Dr, Comstock Park, MI 49321
      View Details

    FAQs

    What type of property is this?
    Land - 0.55-acre lot, prime Alpine Ave location.
    Where is this land located?
    The property is located at 850 Nw - Comstock Park, MI.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: 0.55-acre commercial lot in Comstock Park, MI (49321), located on high-traffic Alpine Avenue.; Part of a mixed-use development including residential components.; Suitable for retail or office development.
    (616) 327-2614
    Request Owner's contact information
    850 Nw - Comstock Park, MI 49321
    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.
    850 Nw -
    Comstock Park, MI 49321
    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
    850 Nw - Comstock Park, MI 49321
    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!
    Listing Contact
    David Rapp
    David Rapp
    Real Estate License ID: MI 6501294153
    (616) 327-2614
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.