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

    5625 Prairie Creek Dr Caledonia, MI 49316

    • Office buildings
    • 10,502 SF
    • 2.81 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Last Sale
    Dec 20, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1152606
    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

    • Farmers Insurance - Thomas Gregwer / Insurance Agency / Auto Insurance Agency
    • Davenport University / Auto Insurance Agency / Academic Department
    • Kentland Corporation / Home Builder / Property Management Company
    • Tag Accounting & Tax Services / Accountant

    Property Details for 5625 Prairie Creek Dr

    Year built
    1999
    Lot size
    2.81 lot acres
    Property size
    10,502 SF
    Zone code
    PUD
    Property type
    Office buildings
    APN
    41-23-05-125-009
    APU
    412305125009

    Description

    This exceptional Class B office building, situated at 5625 Prairie Creek Drive SE in Caledonia, Michigan, 49316, offers a prime leasing opportunity. The property boasts 2,600 square feet of versatile space currently available within a thriving business park, home to the prominent Farmers Insurance Grand Rapids campus. The building's layout includes a thoughtful blend of private offices, conducive to individual focus and team collaboration, complemented by open work areas fostering a dynamic and collaborative environment. Further enhancing functionality are dedicated conference rooms, ideal for meetings and presentations, and a convenient kitchenette for employee use. Ample on-site parking ensures convenient access for staff and clients alike. The strategic location provides easy access to major highways, simplifying commutes and facilitating efficient logistics. Moreover, the property benefits from its proximity to a variety of retail establishments, offering employees and visitors a range of amenities within easy reach. While currently offering 2,600 square feet, there is potential for expansion

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $805,000
      Market price range: $423k - $1.73M
      AI Estimate
      $805,000
      Market price range: $423k - $1.73M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $805,000
      Current use
      COMMERCIAL (GENERAL)
      $865,000
      Change: +7% Conversion: Easy
      RETAIL STORES
      $855,000
      Change: +6% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $650,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Caledonia
    County
    Kent
    State
    Michigan
    Longitude
    -85.5265
    Latitude
    42.8513
    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
    $25,778
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $690,000
      5,216 SF

      1679 68th SE St

      OFFICE BUILDING • 5,216 SF
      1679 68th SE St, Caledonia, MI 49316-7347
      View Details
    • Value Estimation by Request
      1,220 SF

      3506 68th SE St

      OFFICE BUILDING • 1,220 SF
      3506 68th SE St, Caledonia, MI 49316-9140
      View Details
    • Value Estimation
      $26,975,000
      438,644 SF

      5665 Kraft SE Lk

      OFFICE BUILDING • 438,644 SF
      5665 Kraft SE Lk, Caledonia, MI 49316-9759
      View Details
    • Value Estimation
      $525,000
      6,858 SF

      250 Maple SE St

      OFFICE BUILDING • 6,858 SF
      250 Maple SE St, Caledonia, MI 49316-9475
      View Details
    • Value Estimation by Request
      2,816 SF

      6900 Paris Industrial SE Ct

      OFFICE BUILDING • 2,816 SF
      6900 Paris Industrial SE Ct, Caledonia, MI 49316-7784
      View Details
    • Value Estimation by Request
      3,603 SF

      3596 76th SE St

      OFFICE BUILDING • 3,603 SF
      3596 76th SE St, Caledonia, MI 49316-9144
      View Details

    Similar Nearby for Sale

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      Broadmoor Ave Commercial Land

      Prime Caledonia, MI development site.
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      View Details
    • $564,000
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      Caledonia Commercial Land - 3.76 Acres

      Prime Commercial Land, M-6 Corridor, Caledonia, MI
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    • $850,000
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      Caledonia Commercial Land - $850K

      1.9-acre commercial lot, prime location.
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    • $650,000
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      Caledonia Commercial Land - $650K

      4.6-acre commercial lot, prime location.
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    • $137,500
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      Residential Land in Caledonia, MI

      1.3 acre residential land for sale in Caledonia, Michigan.
      8548 Bosque Dr, Caledonia, MI 49316
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    • $1,000,000
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      Caledonia Commercial Land - $1M

      1.85 Acres, High-Traffic Location, C-2 Zoning
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      View Details

    Similar Nearby for Lease

    • $10 SF/Yr

      Office Space on 68th Street

      Flexible office space with high visibility and easy highway access.
      3371 68Th St SE, Caledonia, MI 49316
      View Details
    • $15 SF/Yr
      2,600 SF

      Caledonia Office Space Available

      Class B Office, 2600 sq ft, MI
      5625 Prairie Creek Dr, Caledonia, MI 49316
      View Details
    • New
      $10 SF/Yr
      1,836 SF

      Caledonia Office Space For Lease

      Flexible office space available on highly visible 68th St.
      3371 SE Unit, Caledonia, MI 49316
      View Details
    • $7 SF/Yr
      90,450 SF

      6155 E Paris Ave SE: Industrial Space

      Modern Caledonia industrial space for lease.
      6155 Paris Ave, Caledonia, MI 49316
      View Details
    • $7 SF/Yr
      65,150 SF

      Caledonia Industrial Sublease

      Modern manufacturing space available
      5255 68Th St, Caledonia, MI 49316
      View Details
    • $14 SF/Yr
      2,000 SF

      Prime Kent County Retail Space

      2,000 SF Retail Space - Immediate Occupancy
      6450 100Th St, Caledonia, MI 49316
      View Details
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    Caledonia, MI 49316
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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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