Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    910 State St Big Rapids, MI 49307
    Back to Search
    Property profile & analytics

    910 State St, Big Rapids, MI 49307

    View on Map
    • Retail properties & Spaces
    • 1,631 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 910 State St

    Year built
    1957
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional 1,631 square foot storefront, located at 910 S State St in Big Rapids, Michigan, presents a remarkable investment opportunity. Built in 1957 and renovated in 2020, this vacant property boasts a prime location with high visibility, situated in a shopping complex alongside established businesses like Rite Aid, Qdoba, and Domino's Pizza. The property benefits from a daily traffic count of 5,203 vehicles (per MDOT), ensuring significant foot and vehicle traffic. Its proximity to Ferris State University, with its approximately 14,000 students, offers a substantial customer base. The space features a 10-foot ceiling height and 200 amps of power, and is zoned C-3. Seller financing is available with a $150,000 down payment. The existing lease agreement, should the buyer choose to lease it, offers a monthly rate of $4,485 for a five-year term with two five-year options. The property is "white box" and ready for immediate occupancy. The property's APN is 17-15-436-002. Big Rapids, located in Mecosta County, offers a strong local economy and is conveniently located near Gerald R. Ford International Airport (approximately a 1 hour and 2-minute drive). The city's rich history and vibrant downtown area add to its appeal. This property is ideal for a variety of retail uses and represents a compelling investment opportunity in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Big Rapids
    County
    Mecosta
    State
    Michigan
    Longitude
    -85.4848
    Latitude
    43.688

    Comparable in this City

    • Value Estimation by Request
      3,269 SF

      104 Perry Ave

      Restaurants
      104 Perry Ave, Big Rapids, MI 49307
      View Details
    • Value Estimation by Request
      0.91 Acres

      18260 Northland Dr

      COMMERCIAL (GENERAL)
      18260 Northland Dr, Big Rapids, MI 49307-9272
      View Details
    • Value Estimation by Request
      0.59 Acres

      18156 Northland Dr

      VACANT COMMERCIAL LAND
      18156 Northland Dr, Big Rapids, MI 49307-8780
      View Details
    • Value Estimation by Request
      0.07 Acres

      Northland Dr

      VACANT COMMERCIAL LAND
      Northland Dr, Big Rapids, MI 49307
      View Details
    • Value Estimation by Request
      1.60 Acres

      11966 Northland Dr

      COMMERCIAL (GENERAL)
      11966 Northland Dr, Big Rapids, MI 49307-8613
      View Details
    • Value Estimation by Request
      1.00 Acre

      10785 Northland Dr

      COMMERCIAL (GENERAL)
      10785 Northland Dr, Big Rapids, MI 49307-9294
      View Details

    Similar Nearby for Sale

    • $169,900
      1,208 SF

      Big Rapids Commercial Property

      Commercial property in Big Rapids, zoned for various business uses.
      1129 N State St, Big Rapids, MI 49307
      View Details
    • New
      $299,000
      630 SF

      Historic Business in Downtown District

      Thriving business opportunity in renovated building with excellent ROI.
      250 N State St, Big Rapids, MI 49307
      View Details
    • Contact for pricing
      2,497 SF

      Commercial Building in Big Rapids

      Commercial building near downtown with office and storage space.
      115 Hemlock St, Big Rapids, MI 49307
      View Details
    • New
      $79,000
      2,800 SF

      Big Rapids Commercial Corner Lot

      Two-story building on a busy road, ready to develop.
      603 N State St, Big Rapids, MI 49307
      View Details

    Similar Nearby for Lease

    • $1.00 SF/Yr
      1,208 SF

      Big Rapids Commercial Space For Lease

      Prime commercial space in high-traffic location, suitable for various businesses.
      1129 N State St, Big Rapids, MI 49307
      View Details
    • $2,900 /Mo
      3,500 SF

      Updated Commercial Space on M-20

      Versatile commercial space with high visibility and updated features.
      805 Maple St, Big Rapids, MI 49307
      View Details
    • Contact for pricing

      Retail Space Near Ferris University

      10,552 SF retail space with high visibility.
      836 S State St, Big Rapids, MI 49307
      View Details
    • $1.00 SF/Yr

      Prime Commercial Space in Big Rapids

      High-visibility commercial space suitable for retail, food service, and professional services.
      1129 N State St, Big Rapids, MI 49307
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease at 408 Perry Ave.
      408 Perry Ave, Big Rapids, MI 49307
      View Details
    • $18,000 /Mo

      Versatile Commercial Space on M-20

      Highly visible 1,900 SF commercial space in Big Rapids.
      605 S 3Rd Ave, Big Rapids, MI 49307
      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.
    910 State St
    Big Rapids, MI 49307
    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
    910 State St, Big Rapids, MI, 49307
    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!