Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5160 60Th St Grand Rapids, MI 49512
    Back to Search
    Property profile & analytics

    5160 60Th St Grand Rapids, MI 49512

    View on Map
    • Land
    • 1.79 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 5160 60Th St

    Lot size
    1.79 lot acres
    Property type
    Land

    Description

    This exceptional 1.79-acre commercial land parcel presents a remarkable investment opportunity in Grand Rapids, Michigan. Located at 5160 60th Street SE, Parcel B, in Kent County (APN 41-23-06-200-049), this property boasts unparalleled visibility due to its prime location along the busy M-6 and Broadmoor corridor. Situated directly across from a large, currently under-construction, 500-unit apartment complex, this site offers significant potential for retail development. The land is conveniently serviced by municipal sewer and water. This elevated parcel sits at the highest point on the north side of M-6, ensuring maximum exposure and attracting significant traffic. The asking price is $626,500, translating to approximately $198,675 per acre. While the final acreage is subject to a new survey, the current estimate is 1.79 acres. Please note that this property is subject to necessary municipal approvals before development can commence. This is a rare opportunity to capitalize on the growth and development within this thriving area of Grand Rapids. The zip code is 49512. Coordinates are 42.853443 latitude and -85.538497 longitude.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.5385
    Latitude
    42.8534

    Comparable in this City

    • Value Estimation by Request
      2.00 Acres

      5160 60Th St

      Land • 2.00 Acres
      5160 60Th St, Grand Rapids, MI 49512
      View Details
    • Value Estimation by Request
      1.81 Acres

      44th Se & Patterson Ave

      Land • 1.81 Acres
      44th Se & Patterson Ave, Kentwood, MI 49512
      View Details
    • Value Estimation by Request
      3.79 Acres

      5160 60Th St

      Land • 3.79 Acres
      5160 60Th St, Grand Rapids, MI 49512
      View Details
    • Value Estimation by Request

      3781 32Nd St

      Land
      3781 32Nd St, Kentwood, MI 49512
      View Details
    • Value Estimation by Request
      16.00 Acres

      4251 36Th St

      Land • 16.00 Acres
      4251 36Th St, Kentwood, MI 49512
      View Details
    • Value Estimation by Request
      6.48 Acres

      5362 60Th St

      Land • 6.48 Acres
      5362 60Th St, Grand Rapids, MI 49512
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5 SF

      Land Available for Sale

      Land for sale at 5526 Glenwood Hills Pkwy SE.
      5526 Glenwood Hills Pkwy SE, Grand Rapids, MI 49512
      View Details
    • $501,596

      Kentwood Commercial Land - $501K

      High-visibility commercial lot near GRR Airport.
      3531 Patterson Ave, Kentwood, MI 49512
      View Details
    • $1,137,000
      3.79 Acres

      Grand Rapids Commercial Land Opportunity

      3.79 Acres, M-6 Visibility, High Traffic
      5160 60Th St, Grand Rapids, MI 49512
      View Details
    • $2,000,000

      Retail Highway Land For Sale

      2.43 acres of land right off M37.
      4855 Town Center Dr SE, Grand Rapids, MI 49512
      View Details
    • $180,000
      Pending

      Kentwood Land Ready For Development

      Development-ready land in Kentwood with utilities on site.
      2918 32Nd St SE, Kentwood, MI 49512
      View Details
    • $159,900
      1.80 Acres

      Kentwood Land with Creek Frontage

      Private 1.8-acre lot with frontage on Plaster Creek.
      3473 Breezewood Ct SE, Kentwood, MI 49512
      View Details

    Similar Nearby for Lease

    • $1.45 SF/Yr
      71,189 SF

      PlaneView Shops: Retail Spaces Available

      Prime Airport Retail, 9 Units, Grand Rapids
      3531 Patterson Ave, Kentwood, MI 49512
      View Details
    • Contact for pricing

      Woodland Mall Pad Sites Available

      Rare pad sites available in West Michigan's dominant retail mall.
      3195 28Th St SE, Grand Rapids, MI 49512
      View Details
    • Contact for pricing

      Prime Airport Technical Center Pad

      1.81-acre build-to-suit/ground lease opportunity near Gerald R. Ford Airport.
      44th Se & Patterson Ave SE, Kentwood, MI 49512
      View Details
    • Contact for pricing

      Turn-Key Restaurant Space Available

      Prime location near Woodland Mall, ideal for various restaurant concepts.
      3321 28Th St SE, Kentwood, MI 49512
      View Details
    • Contact for pricing

      Industrial Space with Outside Storage

      12,888 SF industrial space with 1.5 acres storage.
      5225 52Nd St SE, Grand Rapids, MI 49512
      View Details
    • Contact for pricing

      Kentwood Office and Flex Space

      Single-story office and flex-use building near Gerald R. Ford Airport.
      4665 44Th St SE, Kentwood, MI 49512
      View Details
    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.
    5160 60Th St
    Grand Rapids, MI 49512
    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
    5160 60Th St, Grand Rapids, MI, 49512
    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!