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

    212 Hbr Dr Grand Haven, MI 49417-1372

    • Retail residential properties
    • 7,799 SF
    • 0.32 lot acres
    OFF-MARKET
    Last Sale
    Jul 20, 2022
    Value Estimations
    $1,760,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0093142
    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

    • DO MORE GOOD / Charitable Organization / Social Service Agency
    • Grasman Investment Group LLC / Corporate Office / Financial Advisor
    • Edward Jones - Financial Advisor: Julie J DeSanto / Financial Advisor
    • Edward Jones - Financial Advisor: Dale W Miller / Financial Advisor
    • BrandHaven / Marketing & Advertising / Advertising Agency

    Property Details for 212 Hbr Dr

    Year built
    1979
    Lot size
    0.32 lot acres
    Property size
    7,799 SF
    Property type
    Retail residential properties
    APN
    70-03-20-451-015
    APU
    700320451015

    Description

    This exceptional three-story, 6,468 square foot mixed-use building in Grand Haven, Michigan, presents a unique investment opportunity. Located at 212 S Harbor Dr, this property boasts a luxurious 3-bedroom, 2.1-bathroom residential space with high-end finishes including custom walnut cabinetry, Anderson windows, automatic shades, exposed beams, a custom two-sided fireplace, and state-of-the-art A/V amenities. The expansive open-concept floor plan offers over 3,200 square feet of living space, a 17x45 steel deck with sun sail shades, and stunning Grand River views. The lower two floors comprise fully leased office spaces totaling 3,255 square feet, generating over $80,000 in annual rental income. The ground floor includes 1,405 square feet with a kitchenette and bathroom, while the second floor offers 1,850 square feet with a kitchen and two bathrooms. The 0.321-acre lot (14,000 square feet) provides ample parking and potential for expansion. Built in 1979, the building underwent a complete renovation in 2016, including new windows, doors, electrical, HVAC, plumbing, and more. The property is zoned WF-2 and features a heated garage, dual heat zones, and a heated primary bathroom floor. This prime in-town location offers unparalleled views and combines luxurious living with substantial income generation, making it attractive to both residential and commercial buyers and investors. A separate boat slip in the Grand Haven Yacht Club is also available for sale. The asking price is $3,299,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,760,000
      Market price range: $612k - $1.76M
      AI Estimate
      $1,760,000
      Market price range: $612k - $1.76M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,155,000
      OFFICE BUILDING
      $1,065,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Haven
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.2349
    Latitude
    43.0625
    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
    $28,130
    $0.00
    $0.00
    $1,080,900
    -
    $0.00
    $0.00
    $2,161,800

    Comparable in this City

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      222 Washington Ave

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    • Value Estimation
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      728 Washington Ave

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    • Value Estimation
      $580,000
      2,913 SF

      128 Washington Ave

      STORES & APARTMENTS • 2,913 SF
      128 Washington Ave, Grand Haven, MI 49417-1355
      View Details
    • Value Estimation
      $1,265,000
      8,800 SF

      210 Washington Ave

      STORES & APARTMENTS • 8,800 SF
      210 Washington Ave, Grand Haven, MI 49417-3320
      View Details
    • Value Estimation
      $750,000
      4,407 SF

      202 Washington Ave

      STORES & APARTMENTS • 4,407 SF
      202 Washington Ave, Grand Haven, MI 49417-1357
      View Details
    • Value Estimation
      $575,000
      2,543 SF

      110 Washington Ave

      STORES & APARTMENTS • 2,543 SF
      110 Washington Ave, Grand Haven, MI 49417-1355
      View Details

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    212 Hbr Dr
    Grand Haven, MI 49417-1372
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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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