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

    2455 29Th St Grand Rapids, MI 49512

    • Commercial real estate
    • 10,000 SF
    • 0.79 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Dec 07, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0922191
    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

    • Encore Motor Cars / Car Dealership
    • Beauty By Andie / Spa & Massage Center / Skin Care Clinic
    • Service On Wheelz / Car Rental Facility
    • Salon Nouveau / Hair Salon / Nail Salon
    • Past Tense Massage / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 2455 29Th St

    Year built
    1984
    Lot size
    0.79 lot acres
    Property size
    10,000 SF
    Zone code
    MON-C
    Property type
    Commercial real estate
    APN
    41-18-15-101-032
    APU
    411815101032

    Description

    This exceptional commercial property at 2455 29th Street SE in Grand Rapids, Michigan offers a fantastic opportunity for businesses seeking a versatile office space. Located in Kent County, this traditional office building features a total of 2,500 square feet currently available for lease, spread across multiple tenancies. One immediately available space totals 1,250 square feet, ideal for a variety of uses. The property boasts a wide-open floor plan with exposed ceilings, creating a modern and adaptable workspace. Its strategic location near the corner of Breton Road and 29th Street ensures excellent accessibility, benefiting from proximity to the vibrant retail corridor along 28th Street. The property also offers significant advantages in terms of visibility, thanks to its prominent street frontage and the opportunity for building signage. Ample on-site parking is provided for the convenience of tenants and their clients. This property is perfect for businesses seeking a high-visibility location with easy access and ample space in a thriving Grand Rapids neighborhood. The zip code is 49512.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,060,000
      Market price range: $548k - $1.65M
      AI Estimate
      $1,060,000
      Market price range: $548k - $1.65M

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.6055
    Latitude
    42.9111
    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
    $16,140
    $0.00
    $0.00
    $582,300
    -
    $0.00
    $0.00
    $1,164,600

    Comparable in this City

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      4.54 Acres

      4598 44th SE St

      COMMERCIAL (GENERAL) • 4.54 Acres
      4598 44th SE St, Kentwood, MI 49512
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      4.87 Acres

      5015 52nd SE St

      COMMERCIAL (GENERAL) • 4.87 Acres
      5015 52nd SE St, Grand Rapids, MI 49512-9731
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      5020 Ross SE Dr

      COMMERCIAL (GENERAL)
      5020 Ross SE Dr, Grand Rapids, MI 49512-5712
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      3.83 Acres

      5039 28th SE St

      COMMERCIAL (GENERAL) • 3.83 Acres
      5039 28th SE St, Grand Rapids, MI 49512-2067
      View Details
    • Value Estimation by Request
      521,735 SF

      3665 28th SE St

      COMMERCIAL (GENERAL) • 521,735 SF
      3665 28th SE St, Grand Rapids, MI 49512-1684
      View Details

    Similar Nearby for Sale

    • $501,596

      Kentwood Commercial Land - $501K

      High-visibility commercial lot near GRR Airport.
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    • $1,137,000
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      Grand Rapids Commercial Land Opportunity

      3.79 Acres, M-6 Visibility, High Traffic
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      Grand Rapids Commercial Land Parcel

      1.79 Acres, High Visibility, $626,500
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    • $501,047

      Kentwood Commercial Land - $501K

      Prime Kentwood commercial lot, ideal for development.
      3531 Patterson Ave, Kentwood, MI 49512
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    • $460,000
      0.36 Acres

      Kentwood Retail Property: Prime Location

      Updated Multi-Use Commercial Property, High Potential
      3940 29Th St, Kentwood, MI 49512
      View Details

    Similar Nearby for Lease

    • $35 SF/Yr
      1,337 SF

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      Retail space surrounded by major retailers with high traffic.
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    • $6 SF/Yr
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      Grand Rapids Office Space for Lease

      Flexible workspace solutions in Kent County.
      5030 Corporate Exchange Blvd, Grand Rapids, MI 49512
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    • Contact for pricing
      36,271 SF

      Kentwood Towne Center: Retail Opportunity

      Prime Kentwood location, 36,271 SF available.
      4254 28Th St, Kentwood, MI 49512
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    • $14 SF/Yr
      8,400 SF

      Kentwood Retail Center - 8400 SF

      Prime Kentwood retail space, high traffic area.
      4260 28Th St, Kentwood, MI 49512
      View Details
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    Grand Rapids, MI 49512
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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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