Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    302 Main St Ionia, MI 48846-1618

    • Commercial real estate
    • 23,904 SF
    • 0.31 lot acres
    OFF-MARKET
    Value Estimations
    $1,705,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2248485
    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

    • ATM Mercantile Bank / Atm / Bank
    • River's Edge Drop In Center / Mental Health Service

    Property Details for 302 Main St

    Year built
    1890
    Lot size
    0.31 lot acres
    Property size
    23,904 SF
    Zone code
    B-2
    Property type
    Commercial real estate
    APN
    34-201-050-000-190-00
    APU
    3420105000019000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,706,000
      Market price range: $971k - $2.66M

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

    Location Insight

    • Map
    • Local Demand
    City
    Ionia
    County
    Ionia
    State
    Michigan
    Longitude
    -85.066
    Latitude
    42.9828
    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
    2023
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.40 Acres

      Washington St

      COMMERCIAL (GENERAL) • 0.40 Acres
      Washington St, Ionia, MI 48846
      View Details
    • Value Estimation by Request

      886 Jefferson St

      COMMERCIAL (GENERAL)
      886 Jefferson St, Ionia, MI 48846
      View Details
    • Value Estimation by Request

      2178 Kelsey Hwy

      COMMERCIAL (GENERAL)
      2178 Kelsey Hwy, Ionia, MI 48846-9660
      View Details
    • Value Estimation by Request

      413 Main St

      COMMERCIAL (GENERAL)
      413 Main St, Ionia, MI 48846-1553
      View Details
    • Value Estimation by Request
      0.57 Acres

      301 Ml St

      COMMERCIAL (GENERAL) • 0.57 Acres
      301 Ml St, Ionia, MI 48846-1856
      View Details
    • Value Estimation by Request
      0.27 Acres

      Miller St

      COMMERCIAL (GENERAL) • 0.27 Acres
      Miller St, Ionia, MI 48846
      View Details

    Similar Nearby for Sale

    • $370,000
      143,748 SF

      Grand River Retail Redevelopment

      3.3-Acre Ionia Retail Site, Vacant
      1142 State Rd, Ionia, MI 48846
      View Details
    • Contact for pricing
      1.08 Acres

      Ionia Commercial Land Opportunity

      High-traffic Ionia, MI commercial lot
      3192 Commerce Ln, Ionia, MI 48846
      View Details
    • $325,000
      0.07 Acres

      Main St, Ionia, MI 48846

      Commercial real estate • 0.07 Acres
      Main St, Ionia, MI 48846
      View Details
    • $267,750
      1.19 Acres

      Heartland Blvd Commercial Land

      Ionia, MI commercial lot, high visibility.
      0 Heartland Blvd, Ionia, MI 48846
      View Details
    • $35,000
      1.25 Acres

      Ionia Land Parcel For Sale

      1.25 acre building site near Rolling Hills Golf Course.
      2 Kingston Rd, Ionia, MI 48846
      View Details
    • $55,000
      Pending

      Land Adjacent to Golf Course

      Two-acre building site near downtown Ionia and Rolling Hills Golf Course.
      1581 Kelsey Hwy, Ionia, MI 48846
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      48,000 SF

      Ionia Retail Space Available

      Prime Ionia retail space, multiple suites.
      90 Tuttle Rd, Ionia, MI 48846
      View Details
    • $1,500 /Mo
      850 SF

      Retail Space in Ionia, MI

      Retail space for lease with utilities included in Ionia.
      327 W Main St Unit, Ionia, MI 48846
      View Details
    • Contact for pricing
      1,525 SF

      Retail Endcap with Drive-Thru

      Retail space with drive-thru in Ionia, Michigan.
      3149-3153 Commerce Ln, Ionia, MI 48846
      View Details
    • $7 SF/Yr
      15,006 SF

      Retail Space in Downtown Ionia

      Retail space for lease in Ionia's downtown district.
      420 S Steele St, Ionia, MI 48846
      View Details
    • Contact for pricing

      Ionia Retail Pad with Drive-Thru

      Retail pad site with drive-thru in Ionia retail hub.
      3153 Commerce Ln, Ionia, MI 48846
      View Details
    • $27 SF/Yr
      22,000 SF

      Ionia Retail Center Opportunity

      New Build-to-Suit Retail Spaces Available
      0 State Rd, Ionia, MI 48846
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    302 Main St
    Ionia, MI 48846-1618
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.