Add Listing
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

    3061 Shaffer SE Ave Kentwood, MI 49512-1709

    • Industrial properties
    • 257,398 SF
    • 13.40 lot acres
    OFF-MARKET
    Last Sale
    Aug 10, 2022
    Value Estimations
    $7,660,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-4204627
    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 3061 Shaffer SE Ave

    Year built
    1957
    Lot size
    13.40 lot acres
    Property size
    257,398 SF
    Zone code
    I1
    Property type
    Industrial properties
    APN
    41-18-15-240-001
    APU
    411815240001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,661,000
      Market price range: $5.84M - $15.9M
      AI Estimate
      $7,661,000
      Market price range: $5.84M - $15.9M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $11,860,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Kentwood
    County
    Kent
    State
    Michigan
    Longitude
    -85.591
    Latitude
    42.9085
    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
    2019
    $143,332
    $0.00
    $0.00
    $4,059,600
    -
    $0.00
    $0.00
    $8,119,200

    Comparable in this City

    • Value Estimation by Request

      3876 Paris Ave

      Flex space
      3876 Paris Ave, Grand Rapids, MI 49512
      View Details
    • Value Estimation by Request

      4511 Paris SE Ave

      INDUSTRIAL (GENERAL)
      4511 Paris SE Ave, Kentwood, MI 49512-5314
      View Details
    • Value Estimation by Request
      6.27 Acres

      5505 Patterson SE Ave

      INDUSTRIAL (GENERAL) • 6.27 Acres
      5505 Patterson SE Ave, Kentwood, MI 49512-9510
      View Details
    • Value Estimation by Request
      8.53 Acres

      5784 Kraft SE Ave

      INDUSTRIAL (GENERAL) • 8.53 Acres
      5784 Kraft SE Ave, Grand Rapids, MI 49512-9607
      View Details
    • Value Estimation by Request
      119.44 Acres

      4301 60th SE St

      INDUSTRIAL (GENERAL) • 119.44 Acres
      4301 60th SE St, Kentwood, MI 49512-9632
      View Details
    • Value Estimation by Request
      13.27 Acres

      4640 60th SE St

      INDUSTRIAL (GENERAL) • 13.27 Acres
      4640 60th SE St, Grand Rapids, MI 49512-9685
      View Details

    Similar Nearby for Sale

    • $2,000,000
      16.00 Acres

      Kentwood Industrial Land - $2M

      16 Acres, I-96 & M-6 Access
      4251 36Th St, Kentwood, MI 49512
      View Details
    • $450,000
      0.36 Acres

      Kentwood Commercial Property Investment

      Updated Multi-Use Building, High Potential
      3940 29Th St, Kentwood, MI 49512
      View Details
    • $501,047

      Kentwood Commercial Land - $501K

      Prime Kentwood commercial lot, ideal for development.
      3531 Patterson Ave, Kentwood, MI 49512
      View Details
    • $399,000
      0.89 Acres

      Kentwood Drive-Thru Land - $399K

      0.89-acre commercial lot, drive-thru approved.
      3818 52Nd St, Kentwood, MI 49512
      View Details
    • $626,500
      1.79 Acres

      Grand Rapids Commercial Land Parcel

      1.79 Acres, High Visibility, $626,500
      5160 60Th St, Grand Rapids, MI 49512
      View Details

    Similar Nearby for Lease

    • Sponsored
      Contact for pricing

      MI, Grand Rapids - Broadmoor Ave

      Flexible workspace in NV, Reno - 300 E 2nd St
      4595 Broadmoor Ave, Grand Rapids, MI 49512
      View Details
    • $6 SF/Yr
      22,000 SF

      Industrial Space Available For Lease

      22,000 sq ft industrial space for lease.
      5079 33Rd St Southeast, Grand Rapids, MI 49512
      View Details
    • $10 SF/Yr
      27,771 SF

      Kentwood Office Space for Lease

      Modern Office Suites, Flexible Spaces Available
      4595 Broadmoor Ave, Kentwood, MI 49512
      View Details
    • $9 SF/Yr
      39,878 SF

      Grand Rapids Office Space

      Suburban Flex Office, 39,878 SF
      4665 44Th St, Kentwood, MI 49512
      View Details
    • $10 SF/Yr
      3,680 SF

      Kentwood Industrial Warehouse Space

      3,680 SF Flex Space Available February 2025
      3876 Paris Ave, Grand Rapids, MI 49512
      View Details
    • $6 SF/Yr
      7,500 SF

      Kentwood Industrial Space For Lease

      7,500 SF Manufacturing/Warehouse Space
      4156 Danvers Ct, Kentwood, MI 49512
      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.
    3061 Shaffer SE Ave
    Kentwood, MI 49512-1709
    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.
    Sign Up Successful!
    You now have access to more from Realmo!