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    Walker Vw Dr Grand Rapids, MI 49544
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    Walker Vw Dr, Grand Rapids, MI 49544

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    • Retail properties & Spaces
    • 1.70 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Walker Vw Dr

    Lot size
    1.70 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional commercial land offering presents a rare opportunity for investors seeking high-visibility retail space in a rapidly growing area. Located in Walker, Michigan, this property boasts convenient access to major highways including I-96, US-131, and I-196, ensuring excellent visibility and accessibility for businesses. The site is situated just north of the I-96 and Walker Avenue interchange, placing it less than 10 minutes from Downtown Grand Rapids. The available land parcels range in size from approximately 1.67 to 2.5 acres, providing flexibility for various development projects. The property is zoned for Highway Commercial use, making it ideal for a wide range of retail establishments. The area is experiencing significant new growth, creating a strong demand for commercial space and promising a high return on investment. The business-friendly community further enhances the appeal of this exceptional opportunity. APN numbers include 41-13-03-600-006, 011, 015, 023, and 41-13-03-176-002. This is a truly remarkable chance to capitalize on a prime location in a thriving market.

    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
    -85.7259
    Latitude
    43.0245

    Comparable in this City

    • Value Estimation
      $1,890,000
      36,009 SF

      1025 4th Mile NW Rd

      STORE, RETAIL OUTLET
      1025 4th Mile NW Rd, Grand Rapids, MI 49544-1504
      View Details
    • Value Estimation by Request
      1,800 SF

      2255 Alpine NW Ave

      RETAIL STORES (PERSONAL SERVICES)
      2255 Alpine NW Ave, Grand Rapids, MI 49544-1952
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    • Value Estimation by Request
      4,056 SF

      4015 Fruit Rdg NW Ave

      RETAIL STORES (PERSONAL SERVICES)
      4015 Fruit Rdg NW Ave, Grand Rapids, MI 49544-9711
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    • Value Estimation by Request
      1,600 SF

      6225 Peach Rdg NW Ave

      RETAIL STORES (PERSONAL SERVICES)
      6225 Peach Rdg NW Ave, Grand Rapids, MI 49544-9110
      View Details
    • Value Estimation by Request
      3,224 SF

      845 4th Mile NW Rd

      RETAIL STORES (PERSONAL SERVICES)
      845 4th Mile NW Rd, Grand Rapids, MI 49544-1566
      View Details
    • Value Estimation
      $1,140,000
      9,702 SF

      3450 Alpine NW Ave

      RETAIL STORES (PERSONAL SERVICES)
      3450 Alpine NW Ave, Grand Rapids, MI 49544-1666
      View Details

    Similar Nearby for Sale

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      41.09 Acres Mixed-Use Development Land

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      Land For Sale

      Land available for sale.
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    • $925,000

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    • $925,000

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    Similar Nearby for Lease

    • $49 SF/Yr
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      Office Space with Easy Access

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      View Details
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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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