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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1721 Chicago SW Dr Wyoming, MI 49519-1206

    • Industrial properties
    • 8,600 SF
    • 8.84 lot acres
    OFF-MARKET
    Last Sale
    Mar 06, 2024
    Value Estimations
    $555,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1409124
    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

    • Industrial properties

    Property Details for 1721 Chicago SW Dr

    Year built
    1988
    Lot size
    8.84 lot acres
    Property size
    8,600 SF
    Zone code
    I2
    Property type
    Industrial properties
    APN
    41-17-03-276-024
    APU
    411703276024

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $556,000
      Market price range: $167k - $557k
      AI Estimate
      $556,000
      Market price range: $167k - $557k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $390,000
      Current use
      COMMERCIAL (GENERAL)
      $735,000
      Change: +88% Conversion: Difficult
      RETAIL STORES
      $700,000
      Change: +79% Conversion: Moderate
      OFFICE BUILDING
      $660,000
      Change: +69% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $535,000
      Change: +36% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Wyoming
    County
    Kent
    State
    Michigan
    Longitude
    -85.7096
    Latitude
    42.9371
    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
    $21,222
    $0.00
    $0.00
    $366,700
    -
    $0.00
    $0.00
    $733,400

    Comparable in this City

    • Value Estimation by Request
      11.86 Acres

      1900 Chicago SW Dr, Unit 1926

      INDUSTRIAL (GENERAL) • 11.86 Acres
      1900 Chicago SW Dr, Wyoming, MI 49519-1211
      View Details
    • Value Estimation by Request
      7.09 Acres

      2964 Clydon SW Ave

      INDUSTRIAL (GENERAL) • 7.09 Acres
      2964 Clydon SW Ave, Wyoming, MI 49519-2404
      View Details
    • Value Estimation
      $4,125,000
      123,050 SF

      3400 Wentworth SW Dr

      INDUSTRIAL (GENERAL) • 123,050 SF
      3400 Wentworth SW Dr, Wyoming, MI 49519-6108
      View Details
    • Value Estimation
      $3,365,000
      94,646 SF

      2941 Clydon SW Ave

      INDUSTRIAL (GENERAL) • 94,646 SF
      2941 Clydon SW Ave, Wyoming, MI 49519-2403
      View Details
    • Value Estimation
      $4,815,000
      158,164 SF

      2740 Pr SW St

      INDUSTRIAL (GENERAL) • 158,164 SF
      2740 Pr SW St, Wyoming, MI 49519-2459
      View Details
    • Value Estimation by Request
      4.52 Acres

      5957 Xrds Commerce SW Pkwy

      INDUSTRIAL (GENERAL) • 4.52 Acres
      5957 Xrds Commerce SW Pkwy, Wyoming, MI 49519-9572
      View Details

    Similar Nearby for Sale

    • $950,000
      2.12 Acres

      Prime Commercial Land on 28th

      2.131 acres of I-1 zoned land on 28th Street.
      2777 28Th St SW, Wyoming, MI 49519
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    • $1,500,000
      2.12 Acres

      Wyoming Industrial Land - $1.5M

      Prime 2.12-acre I-1 zoned lot. High visibility location.
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    • $1,279,290

      Standalone Industrial Building with Showroom

      Industrial building with modernized showroom, ample parking, and high visibility.
      1623 Chicago Dr, Wyoming, MI 49519
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    • $15,500,000

      Wyoming Industrial Campus with Cranes

      204,765 SF industrial facilities on 10 acres.
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    • $150,000

      Land For Sale

      Land available for purchase.
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      View Details
    • Contact for pricing
      7,000 SF

      Freestanding Retail Property For Sale

      Freestanding retail property in a high-visibility location.
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    Similar Nearby for Lease

    • $3,208 /Mo
      3,348 SF

      Versatile Commercial Space For Rent

      3,300+ sqft commercial space with high visibility and accessibility.
      2290 28Th St SW, Wyoming, MI 49519
      View Details
    • Contact for pricing

      Drive-Thru Lot Lease Opportunity

      Commercial land available for ground lease or build-to-suit.
      2375 28Th St Southwest, Wyoming, MI 49519
      View Details
    • $20 SF/Yr
      10,855 SF

      Former CVS: Wyoming, MI Retail Space

      High-visibility retail building, 10,855 sq ft.
      2375 28Th St, Wyoming, MI 49519
      View Details
    • $28 SF/Yr

      Top-Tier Office Space Available

      Prime office space near University of Michigan Health Campus.
      2380 Health Dr SW, Wyoming, MI 49519
      View Details
    • $26 SF/Yr

      Retail Space in Health-West Village

      Retail suite in a blended-use development on U of M campus.
      2300-2320 Health Dr SW, Wyoming, MI 49519
      View Details
    • $30 SF/Yr
      14,000 SF

      Metro Health Village Retail Space

      Wyoming, MI: Restaurant & Retail Opportunity
      2360 Health Dr, Wyoming, MI 49519
      View Details
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    1721 Chicago SW Dr
    Wyoming, MI 49519-1206
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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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