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

    4004 Chicago SW Dr Grandville, MI 49418-1202

    • Office buildings
    • 1,430 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Jul 18, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1222323
    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

    • Office buildings

    Property Details for 4004 Chicago SW Dr

    Year built
    1950
    Lot size
    0.05 lot acres
    Property size
    1,430 SF
    Zone code
    CBD
    Property type
    Office buildings
    APN
    41-17-18-281-036
    APU
    411718281036

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Grandville
    County
    Kent
    State
    Michigan
    Longitude
    -85.7634
    Latitude
    42.9093
    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
    $2,442
    $0.00
    $0.00
    $63,800
    -
    $0.00
    $0.00
    $127,600

    Comparable in this City

    • Value Estimation
      $1,590,000
      11,382 SF

      4175 Pkwy Pl SW Dr

      OFFICE BUILDING • 11,382 SF
      4175 Pkwy Pl SW Dr, Grandville, MI 49418-2382
      View Details
    • Value Estimation by Request
      2,738 SF

      4600 Ivanrest SW Ave

      OFFICE BUILDING • 2,738 SF
      4600 Ivanrest SW Ave, Grandville, MI 49418-9320
      View Details
    • Value Estimation by Request
      4,480 SF

      4165 Pr SW St

      OFFICE BUILDING • 4,480 SF
      4165 Pr SW St, Grandville, MI 49418-1776
      View Details
    • Value Estimation
      $755,000
      18,716 SF

      4121 Chicago SW Dr

      OFFICE BUILDING • 18,716 SF
      4121 Chicago SW Dr, Grandville, MI 49418-1203
      View Details
    • Value Estimation
      $905,000
      18,480 SF

      3980 Chicago SW Dr

      OFFICE BUILDING • 18,480 SF
      3980 Chicago SW Dr, Grandville, MI 49418-1392
      View Details
    • Value Estimation by Request
      9,344 SF

      4320 44th St Sws9

      OFFICE BUILDING • 9,344 SF
      4320 44th St Sws9, Grandville, MI 49418-2300
      View Details

    Similar Nearby for Sale

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      Grandville Medical Office Building

      High-yield medical office investment opportunity.
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    • $279,900
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      Grandville Mixed-Use Commercial Building

      Versatile mixed-use building in Grandville with high visibility and accessibility.
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    • $1,500,000

      Development Land Near Residential Units

      2.82 acres of commercially zoned land for development.
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    • $599,000

      Highway Interchange Site Available

      1.34 acre commercial land next to high-traffic retailers.
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    • $1,600,000

      Prime Development Site in Grandville

      6.4-acre site for mixed-use or standalone development.
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    • $95,000
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      Residential Land in Grandville Schools

      Build your dream home in a peaceful, convenient Wyoming location.
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    Similar Nearby for Lease

    • $13 SF/Yr
      21,750 SF

      Grandville Office Space for Lease

      10,451 SF Executive/Creative Office
      3145 Prairie St, Grandville, MI 49418
      View Details
    • $13 SF/Yr

      Suburban Office Space in Grandville

      10,451 SF office space with private entrances and ample parking.
      3145 Prairie St SW, Grandville, MI 49418
      View Details
    • $12 SF/Yr
      65,022 SF

      Ramblewood Offices

      Office space • 65,022 SF
      2845 44Th St, Grandville, MI 49418
      View Details
    • $13 SF/Yr
      29,565 SF

      Oakestown Retail/Office Space

      Grandville, MI: Prime Retail & Office
      3022 28Th St, Grandville, MI 49418
      View Details
    • $15 SF/Yr
      70,025 SF

      Grandville Executive Office Space

      Prime Rivertown Corridor Office Suite Available
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      View Details
    • $13 SF/Yr
      2,807 SF

      Oakestown Retail/Office Space

      Grandville, MI: Prime Retail & Office
      2986 28Th St, Grandville, MI 49418
      View Details
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    4004 Chicago SW Dr
    Grandville, MI 49418-1202
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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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