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    Property profile & analytics

    14345 Ironwood NW Dr Grand Rapids, MI 49534-1031

    • Grocery and convenience stores
    • 6,504 SF
    • 2.05 lot acres
    OFF-MARKET
    Last Sale
    May 17, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-4302607
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Uncle Jim's Jerky Stores / Butcher Shop
    • Paula's Market / Grocery Store

    Property Details for 14345 Ironwood NW Dr

    Year built
    2010
    Lot size
    2.05 lot acres
    Property size
    6,504 SF
    Property type
    Grocery and convenience stores
    APN
    70-10-01-151-038
    APU
    701001151038

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Ottawa
    State
    Michigan
    Longitude
    -85.8063
    Latitude
    43.0289
    CBSA code
    24340
    CBSA name
    GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $7,639
    $0.00
    $0.00
    $267,800
    -
    $0.00
    $0.00
    $535,600

    Comparable in this City

    • Value Estimation by Request
      2,216 SF

      14226 Ironwood NW Dr

      CONVENIENCE STORE • 2,216 SF
      14226 Ironwood NW Dr, Grand Rapids, MI 49534-1032
      View Details
    • Value Estimation by Request
      3,460 SF

      3428 Riv Hl NW Dr

      RETAIL STORES (PERSONAL SERVICES) • 3,460 SF
      3428 Riv Hl NW Dr, Grand Rapids, MI 49534-9020
      View Details
    • Value Estimation by Request
      4,960 SF

      217 Lk Michigan NW Dr

      RETAIL STORES (PERSONAL SERVICES) • 4,960 SF
      217 Lk Michigan NW Dr, Grand Rapids, MI 49534
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    • Value Estimation by Request
      5,248 SF

      17 Luce SW St

      RETAIL STORES (PERSONAL SERVICES) • 5,248 SF
      17 Luce SW St, Grand Rapids, MI 49534-9604
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    • Value Estimation by Request
      8,000 SF

      11255 1st NW Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,000 SF
      11255 1st NW Ave, Grand Rapids, MI 49534-3381
      View Details
    • Value Estimation by Request
      2,176 SF

      3433 Riv Hl NW Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,176 SF
      3433 Riv Hl NW Dr, Grand Rapids, MI 49534-9020
      View Details

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    14345 Ironwood NW Dr
    Grand Rapids, MI 49534-1031
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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.

    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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