Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    120 Greenville Dr Greenville, MI 48838

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    120 Greenville Dr Greenville, MI 48838

    View on Map
    • Office properties & Spaces
    • 24,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 120 Greenville Dr

    Year built
    1995
    Property size
    24,000 SF
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional medical office building, located at 120 S Greenville W Dr in Greenville, MI 48838, offers 10,000 square feet of immediately available space within a larger 24,000 square foot complex. Built in 1995, the property consists of five buildings situated in Montcalm County and provides ample surface parking for tenants and their clients. The space is divisible, with a minimum leasable area of 5,000 square feet and a maximum contiguous space of 10,000 square feet, offering flexibility for various practice sizes. The building's location within a medical office park ensures a supportive and collaborative environment for healthcare professionals. The property is ideal for medical practices seeking modern, well-maintained office space with convenient parking and a prime location in Greenville, Michigan. This is a multi-tenant building offering a variety of suite sizes to accommodate different needs. The property's convenient location and ample parking make it an attractive option for both patients and staff. The existing infrastructure and established medical community provide a strong foundation for a thriving practice. Don't miss this opportunity to establish or expand your medical practice in a vibrant and supportive environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Montcalm
    State
    Michigan
    Longitude
    -85.2787
    Latitude
    43.1794

    Comparable in this City

    • Value Estimation by Request
      65,161 SF

      701 Greenville Dr

      Lifestyle centers • 65,161 SF
      701 Greenville Dr, Greenville, MI 48838
      View Details
    • Value Estimation by Request
      10,200 SF

      118 Greenville Dr

      Medical Office Space • 10,200 SF
      118 Greenville Dr, Greenville, MI 48838
      View Details
    • Value Estimation by Request
      15,000 SF

      161 Pine Ct

      Investment properties • 15,000 SF
      161 Pine Ct, Greenville, MI 48838
      View Details
    • Value Estimation by Request
      0.14 Acres

      108 Lafayette St

      COMMERCIAL (GENERAL) • 0.14 Acres
      108 Lafayette St, Greenville, MI 48838-1883
      View Details
    • Value Estimation by Request
      2.38 Acres

      1500 Lafayette St

      COMMERCIAL (GENERAL) • 2.38 Acres
      1500 Lafayette St, Greenville, MI 48838-1056
      View Details
    • Value Estimation by Request
      0.12 Acres

      Lafayette St

      COMMERCIAL (GENERAL) • 0.12 Acres
      Lafayette St, Greenville, MI 48838
      View Details

    Similar Nearby for Sale

    • $975,000
      21,000 SF

      Versatile Retail and Commercial Building

      21,000 sq ft retail, office, and warehouse space.
      421 N Lafayette St, 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 Rd, Greenville, MI 48838
      View Details
    • Contact for pricing
      21,000 SF

      Versatile Retail and Commercial Building

      21,000 sq. ft. retail, office, and warehouse space.
      421 N Lafayette St, 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 St, Greenville, MI 48838
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Medical Office Building Opportunity

      Proposed medical office building with customizable spaces in Greenville, MI.
      120 S Greenville Dr W, Greenville, MI 48838
      View Details
    • $1.00 SF/Yr
      1,494 SF

      Greenville Commercial Space For Rent

      Commercial space available for rent in Greenville, Michigan.
      301 S Lafayette St, Greenville, MI 48838
      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.
    120 Greenville Dr
    Greenville, MI 48838
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!