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    1511 Plainfield NE Ave Grand Rapids, MI 49505-4922
    Property profile & analytics

    1511 Plainfield NE Ave, Grand Rapids, MI 49505-4922

    View on Map
    • Retail space
    • 5,838 SF
    • 0.09 lot acres
    Off-Market
    Property ID
    US43-1933895
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • 2RST / Clothing Store
    • AAA High Efficient Heating / HVAC Service / General Contractor

    Property Details for 1511 Plainfield NE Ave

    Year built
    1900
    Lot size
    0.09 lot acres
    Zone code
    TN-TBA
    Property type
    Retail space
    APN
    41-14-18-327-020
    APU
    411418327020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.6641
    Latitude
    42.9899
    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
    2021
    $4,574
    $0.00
    $0.00
    $170,100
    -
    $0.00
    $0.00
    $340,200

    Comparable in this City

    • Value Estimation
      $675,000
      5,748 SF

      1612 Diamond NE Ave

      RETAIL STORES (PERSONAL SERVICES)
      1612 Diamond NE Ave, Grand Rapids, MI 49505-4811
      View Details
    • Value Estimation
      $510,000
      5,257 SF

      1555 Plainfield NE Ave

      RETAIL STORES (PERSONAL SERVICES)
      1555 Plainfield NE Ave, Grand Rapids, MI 49505-4944
      View Details
    • Value Estimation by Request
      3,337 SF

      1375 Plainfield NE Ave

      GROCERY, SUPERMARKET
      1375 Plainfield NE Ave, Grand Rapids, MI 49505-4942
      View Details
    • Value Estimation by Request
      5,390 SF

      1553 Plainfield NE Ave

      RESTAURANT
      1553 Plainfield NE Ave, Grand Rapids, MI 49505-4977
      View Details
    • Value Estimation by Request
      2.50 Acres

      1319 Leonard NE St

      COMMERCIAL (GENERAL)
      1319 Leonard NE St, Grand Rapids, MI 49505-5567
      View Details
    • Value Estimation by Request
      3.06 Acres

      2100 Leonard NE St

      COMMERCIAL (GENERAL)
      2100 Leonard NE St, Grand Rapids, MI 49505
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Established Restaurant on Corner Lot

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      0.27 Acres

      Grand Rapids Multifamily Investment Opportunity

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      Pending

      Brick Duplex in Kent Hills

      Well-maintained duplex in a convenient Grand Rapids location.
      761-763 Marietta St NE, Grand Rapids, MI 49505
      View Details
    • New
      $649,000
      0.28 Acres

      Grand Rapids Multifamily Investment Opportunity

      Four-unit townhouse near Medical Mile, ideal for investment or owner-occupancy.
      1239 Northfield Ave NE, Grand Rapids, MI 49505
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    Similar Nearby for Lease

    • $4 SF/Yr
      Pending

      Grand Rapids Warehouse Space Available

      Warehouse space with open office area and shared docks.
      2055 Oak Industrial Dr NE, Grand Rapids, MI 49505
      View Details
    • Contact for pricing

      Medical Office Space Available

      2420 SF office space suitable for various businesses.
      2501 Plainfield Ave NE, Grand Rapids, MI 49505
      View Details
    • $13 SF/Yr
      1,700 SF

      Grand Rapids Industrial Space

      1700 sq ft industrial space in Grand Rapids, Michigan.
      1612 Diamond Ave NE, Grand Rapids, MI 49505
      View Details
    • Contact for pricing
      4,707 SF

      Office Space Available For Rent

      4,707 SF office space for lease until 2032.
      3100 Plainfield Ave Northeast, Grand Rapids, MI 49505
      View Details
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    Grand Rapids, MI 49505-4922
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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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