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    1800- 44Th St Wyoming, MI 49508

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    1800- 44Th St Wyoming, MI 49508

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    • Office properties & Spaces
    • 116,057 SF
    • 0.83 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 1800- 44Th St

    Year built
    1974
    Lot size
    0.83 lot acres
    Property size
    116,057 SF
    Property type
    Office properties & Spaces
    Property subtype
    Land

    Description

    This exceptional commercial property, located at 1800-1900 44th St in Kentwood, Michigan, presents a significant investment opportunity. The property encompasses a substantial 116,057 square feet of space, combining office and land uses, and is priced competitively at $395,000, translating to $3.39 per square foot. The single-story building, constructed in 1974 and renovated in 2003, sits on a 0.83-acre lot. The property's zoning is commercial, offering considerable flexibility for various business ventures. The parcel is identified by APN numbers 411828125006 and 411828. Situated in Kent County, Michigan, with a convenient Kentwood address and zip code 49508, this location offers excellent accessibility and visibility. The property's size and versatile zoning make it ideal for a range of commercial uses, presenting a compelling opportunity for expansion, redevelopment, or investment. The property's history of renovations suggests a well-maintained structure, ready for immediate occupancy or further development. This is a rare opportunity to acquire a substantial commercial property in a desirable location at an attractive price point. Further details regarding the lot split and potential for development are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Wyoming
    County
    Kent
    State
    Michigan
    Longitude
    -85.6191
    Latitude
    42.8836

    Comparable in this City

    • Value Estimation by Request
      0.83 Acres

      1800 44Th St

      Land • 116,057 SF
      1800 44Th St, Wyoming, MI 49508
      View Details
    • Value Estimation by Request
      1,425,595 SF

      1120 36Th St

      Distribution properties • 1,425,595 SF
      1120 36Th St, Wyoming, MI 49508
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    • Value Estimation by Request
      1.25 Acres

      1531 60Th St

      Land • 1.25 Acres
      1531 60Th St, Wyoming, MI 49508
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      3.00 Acres

      1443 60Th St

      Land • 3.00 Acres
      1443 60Th St, Kentwood, MI 49508
      View Details
    • Value Estimation by Request
      1.27 Acres

      5296 Eastern Ave

      Land • 78,213 SF
      5296 Eastern Ave, Grand Rapids, MI 49508
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    • Value Estimation by Request
      26,055 SF

      1050 36Th St

      Office properties & Spaces • 26,055 SF
      1050 36Th St, Grand Rapids, MI 49508
      View Details

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    Wyoming, MI 49508
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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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