Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    S Greenville W Dr, Greenville, MI 48838

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Commercial land

    Type:Land
    Lot size:
    4.71 Acres
    Added:
    Sep 10, 2024
    Days on Market:
    634
    Last Refresh:
    May 12 at 9:43 pm

    Property Features for S Greenville W Dr

    General Information

    Standard status
    Active
    Lot size
    4.71 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Teresa Datema

    Listing agent Teresa Datema License #MI 6501442503

    Listing office Bradley Company Grand Rapids

    Listing date Sep 10, 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 Bradley Company Grand Rapids

    HighLights

    • Prime land in Greenville, Michigan.
    • Expansive parcel of 4.71 acres.
    • Suitable for investors, franchisees, or developers.
    • Offers endless possibilities for growth.
    • Located on S Greenville West Dr.
    • Rare opportunity to own a large parcel.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Greenville
    County
    Montcalm
    State
    Michigan
    Longitude
    -85.2594
    Latitude
    43.1872

    Nearby Similar for Sale

    • $950,000
      9,264 SF

      Greenville Warehouse on 2.65 Acres

      Commercial warehouse with income potential on M-57 and Old 14 Mile Rd.
      14000 14 Mile Road NE, Greenville, MI 48838
      View Details
    • $99,000
      2,612 SF

      Commercial Building with Open Floorplan

      Highly visible commercial building suitable for office or retail use.
      9297 SW Greenville Road, Greenville, MI 48838
      View Details
    • $799,900
      2,800 SF

      Greenville Commercial Building on M57

      2800 sqft commercial building on 2.39 acres.
      10606 W Carson City Road, Greenville, MI 48838
      View Details
    • $975,000
      21,000 SF

      Versatile Retail and Commercial Building

      21,000 sq ft retail, office, and warehouse space.
      421 N Lafayette Street, Greenville, MI 48838
      View Details
    • $574,900
      1,320 SF

      Greenville Commercial Property For Sale

      1.4 acre commercial property ready for redevelopment near M57.
      109 S Greenville W Drive, Greenville, MI 48838
      View Details
    • $399,900

      Burgess Lake Frontage Land

      Land with 150 feet of frontage on Pristine Burgess Lake.
      371 Burgess Lake Road, Greenville, MI 48838
      View Details
    • $499,900
      3,000 SF

      Mixed-Use Property in Greenville, MI

      Mixed-use property with commercial building, home, and detached garage.
      25/29 S Greenville Road, Greenville, MI 48838
      View Details
    • $230,000
      1,997 SF

      Downtown Greenville Mixed-Use Property

      Versatile mixed-use property in downtown Greenville, suitable for various ventures.
      200 W Washington Street, Greenville, MI 48838
      View Details
    • $284,900

      Prime Corner Commercial Lot

      0.55 acre corner lot ready for redevelopment in Greenville, MI.
      100 W Marks Street, Greenville, MI 48838
      View Details
    • $79,000

      8.48 Acres of Wooded Land

      8.48 acres of wooded land northwest of Greenville, MI.
      4311 S Youngman Road, Greenville, MI 48838
      View Details
    • $285,000
      3,240 SF

      Two-Unit Commercial Property on Main Thoroughfare

      Two-unit commercial property with updates and flexible tenant options.
      6548 S Greenville Road, Greenville, MI 48838
      View Details
    • $665,000

      66 Acres Development Opportunity

      66-acre parcel suitable for residential, commercial, or green energy development.
      6325 S Greenville Road, Greenville, MI 48838
      View Details

    FAQs

    Where is this commercial land located?
    The property is located at S Greenville W Dr Greenville, MI.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: Prime land in Greenville, Michigan.; Expansive parcel of **4.71 acres**.; Suitable for investors, franchisees, or developers.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Teresa Datema
    Real Estate License ID: MI 6501442503
    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
    S Greenville W Dr, Greenville, MI 48838
    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!