Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3516 Roger B Chaffee Memorial Blvd Grand Rapids, MI 49548
    Back to Search
    Property profile & analytics

    3516 Roger B Chaffee Memorial Blvd Grand Rapids, MI 49548

    View on Map
    • Warehouses
    • 34,285 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 3516 Roger B Chaffee Memorial Blvd

    Year built
    1975
    Property size
    34,285 SF
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This Grand Rapids, Michigan industrial property, located at 3516 Roger B Chaffee Memorial Blvd SE, offers 34,285 square feet of warehouse, commercial, and manufacturing space across four buildings situated on a 10.01-acre lot. The property, zoned I-1, features multiple suites available for lease, with a minimum divisible space of 2,000 square feet and a maximum contiguous space of 2,000 square feet. Currently, 2,000 square feet are vacant. Built in 1975 and renovated in 2017, the property boasts 18-20 foot ceiling heights and includes one drive-in door. The property benefits from its convenient location near US-131, providing easy access to the entire West Michigan market. Recent improvements include the installation of solar panels, asphalt replacement, exterior LED lighting, new tenant directories, and landscaping enhancements. Each suite includes an office area and either a drive-in or dock-high door (specific door type varies by suite). Suite 3532, for example, offers 2,000 square feet with 300 square feet of office space and 1,700 square feet of warehouse space, accessible via a drive-in door. The property's APN is 41-18-18-476-006, and it's located in Kent County, with a zip code of 49548. Available April 1, 2024.

    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
    -85.6517
    Latitude
    42.9001

    Comparable in this City

    • Value Estimation by Request

      4050 Roger B Chaffee Memorial Blvd

      Distribution properties
      4050 Roger B Chaffee Memorial Blvd, Grand Rapids, MI 49548
      View Details
    • Value Estimation by Request
      20,000 SF

      760 36Th St

      Distribution properties • 20,000 SF
      760 36Th St, Grand Rapids, MI 49548
      View Details
    • Value Estimation by Request

      3113 Hillcroft Ave

      Flex space
      3113 Hillcroft Ave, Wyoming, MI 49548
      View Details
    • Value Estimation by Request
      20,000 SF

      760 36Th St

      Distribution properties • 20,000 SF
      760 36Th St, Grand Rapids, MI 49548
      View Details
    • Value Estimation by Request
      12,000 SF

      3457 Roger B Chaffee Memorial Blvd

      Distribution properties • 12,000 SF
      3457 Roger B Chaffee Memorial Blvd, Grand Rapids, MI 49548
      View Details
    • Value Estimation by Request
      2,491 SF

      34 Barry SE St

      WAREHOUSE, STORAGE • 2,491 SF
      34 Barry SE St, Grand Rapids, MI 49548-7771
      View Details

    Similar Nearby for Sale

    • $899,900

      Wyoming Commercial Property on Division

      High-visibility commercial property with retail, office, and warehouse space.
      3614-3620 Division Ave S, Wyoming, MI 49548
      View Details
    • $899,900
      12,183 SF

      Mixed-Use Property in Grand Rapids

      High-visibility commercial property with retail, office, and warehouse space.
      3614-3620 Division Ave S, Grand Rapids, MI 49548
      View Details
    • $1,250,000
      5,000 SF

      Grand Rapids Restaurant - Turnkey Opportunity

      Established Restaurant, 5,000 SF, High Traffic Area
      217 28Th St, Grand Rapids, MI 49548
      View Details
    • $249,600
      0.15 Acres

      Wyoming Salon & Commercial Building

      Thriving salon, versatile space, prime location.
      4603 Division Ave, Wyoming, MI 49548
      View Details
    • $399,000
      0.97 Acres

      Commercial Land in Grand Rapids

      Vacant commercial land suitable for various business ventures.
      435 28Th St, Grand Rapids, MI 49548
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Space Near US-131

      40,177 SF industrial space for lease, immediate availability.
      345 32Nd St SW, Grand Rapids, MI 49548
      View Details
    • Contact for pricing

      Flex Space Near US-131

      Flex space with office and warehouse components near US-131.
      102-122 54Th St SW, Wyoming, MI 49548
      View Details
    • Contact for pricing

      Wyoming Office Building with Expansion

      101,682 SF office building with expansion potential.
      4147 Eastern Ave SE, Grand Rapids, MI 49548
      View Details
    • Contact for pricing

      Wyoming, MI Flex Space Available

      Flex space available near US-131 in Wyoming, Michigan.
      3060 Madison Ave SE, Grand Rapids, MI 49548
      View Details
    • Contact for pricing

      Wyoming Flex Space with Offices

      Flex spaces with office and warehouse components near US-131.
      3516 Roger B Chaffee Blvd SE, Wyoming, MI 49548
      View Details
    • Contact for pricing

      Industrial Space for Lease

      Industrial property with income potential and recent roof updates.
      3729 Linden Ave SE, Wyoming, MI 49548
      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.
    3516 Roger B Chaffee Memorial Blvd
    Grand Rapids, MI 49548
    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
    3516 Roger B Chaffee Memorial Blvd, Grand Rapids, MI, 49548
    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!