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    5446 Division Ave Kentwood, MI 49548

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    5446 Division Ave Kentwood, MI 49548

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    • Lifestyle centers
    • 32,645 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 5446 Division Ave

    Property size
    32,645 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Grand Rapids Plaza, a single-story, 32,645 square foot retail shopping center located at 5446 Division Ave S in Kentwood, Michigan (zip code 49548), offers a prime retail opportunity. Situated in the desirable 36th/44th St Corridor of Kent County, this property boasts a strong location with high visibility and accessibility. The building underwent renovations in 2017, ensuring modern amenities and a well-maintained environment for tenants. Currently, there is 1,900 square feet of vacant space available for lease, ideal for a variety of retail businesses. The entire center features multiple tenants, creating a vibrant and bustling shopping atmosphere. This is a fantastic chance to establish or expand your business in a thriving retail hub within a well-established and updated shopping center. The property's single-building design simplifies operations and management. The convenient location within Kentwood, Michigan, provides easy access to a large customer base. This space presents a unique opportunity for businesses seeking a high-traffic location in a well-maintained and recently renovated shopping center. The available space is ready for immediate occupancy. Contact us today to learn more about this exceptional retail leasing opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Kentwood
    County
    Kent
    State
    Michigan
    Longitude
    -85.6639
    Latitude
    42.8651

    Comparable in this City

    • Value Estimation by Request
      14,096 SF

      6233 Division Ave

      Lifestyle centers • 14,096 SF
      6233 Division Ave, Grand Rapids, MI 49548
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    • Value Estimation by Request
      4,686 SF

      6540 Division S Ave

      SHOPPING CENTER, STRIP CENTER • 4,686 SF
      6540 Division S Ave, Grand Rapids, MI 49548-7804
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    • Value Estimation by Request
      7,364 SF

      6568 Division S Ave

      SHOPPING CENTER, STRIP CENTER • 7,364 SF
      6568 Division S Ave, Grand Rapids, MI 49548-7894
      View Details
    • Value Estimation by Request
      6,336 SF

      6700 Division S Ave

      SHOPPING CENTER, STRIP CENTER • 6,336 SF
      6700 Division S Ave, Grand Rapids, MI 49548-7834
      View Details
    • Value Estimation by Request
      2,660 SF

      6536 Division S Ave

      SHOPPING CENTER, STRIP CENTER • 2,660 SF
      6536 Division S Ave, Grand Rapids, MI 49548-7804
      View Details
    • Value Estimation by Request
      4,808 SF

      600 28Th St

      Restaurants • 4,808 SF
      600 28Th St, Grand Rapids, MI 49548
      View Details

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    5446 Division Ave
    Kentwood, MI 49548
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    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
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