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    Property profile & analytics

    6155 Paris SE Ave Caledonia, MI 49316-9750

    • Industrial properties
    • 7.60 lot acres
    OFF-MARKET
    Last Sale
    Nov 04, 2020
    $836,000
    Value Estimations
    $835,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0814240
    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

    • eduPARTS / Electronics & Wireless Store

    Property Details for 6155 Paris SE Ave

    Lot size
    7.60 lot acres
    Zone code
    I1-LIGHT IND
    Property type
    Industrial properties
    APN
    41-22-02-200-018
    APU
    412202200018

    Description

    This exceptional 90,450-square-foot industrial property, situated at 6155 E Paris Ave SE in Caledonia, Michigan, presents a unique leasing opportunity. Built in 2022, this single-story building offers a variety of spaces, with a minimum divisible area of 16,364 square feet and a maximum contiguous space of 23,474 square feet. Currently, 39,838 square feet is available for lease. The property boasts impressive features including 28' and 24' ceiling heights, enhancing functionality and storage capacity. Loading and unloading are facilitated by four loading docks and three drive-in doors. Ample parking is provided with 51 spaces. The building is equipped with robust power: 200 amps, 480 volts, 3-phase. The property sits on a 7.61-acre lot and is zoned I-1, Light Industrial. Its location in the Airport District of Kent County (APN: 41-22-02-200-018, zip code 49316) offers excellent access to transportation and infrastructure. The property is suitable for various industrial uses, including manufacturing, flex, warehouse, distribution, food processing, mixed-use, light industrial, office showroom, and research & development. This move-in ready space is ideal for businesses seeking a modern, efficient, and well-equipped facility.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $695,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Caledonia
    County
    Kent
    State
    Michigan
    Longitude
    -85.5677
    Latitude
    42.8522
    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
    $11,849
    $0.00
    $0.00
    $5,077,700
    -
    $0.00
    $0.00
    $10,155,400

    Comparable in this City

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      4,864 SF

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    • Value Estimation by Request
      1,968 SF

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      1,357 SF

      3898-3900 68Th St

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    • Value Estimation by Request
      6.20 Acres

      5041 68th SE St

      INDUSTRIAL (GENERAL) • 6.20 Acres
      5041 68th SE St, Caledonia, MI 49316-9516
      View Details

    Similar Nearby for Sale

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      Light Industrial Zoned Land Parcel

      High-potential property in a rapidly developing commercial corridor.
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      View Details
    • $1,050,000
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      Caledonia Commercial Property Near Amazon

      2.65 acres with 3,000 SF industrial building near Amazon.
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    • $564,000
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      Caledonia Commercial Land - 3.76 Acres

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    • Contact for pricing

      6949 Broadmoor Ave SE - Lot B, Caledonia, MI 49316

      Commercial land
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    • $526,500
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      Caledonia Commercial Land - 2.34 Acres

      Prime Commercial Land, M-6 Corridor, Caledonia, MI
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    • Contact for pricing
      9,301 SF

      Dollar General NNN Lease Property

      NNN leased Dollar General near Grand Rapids and Amazon facilities.
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    Similar Nearby for Lease

    • Contact for pricing

      New Industrial Suite For Lease

      State-of-the-art industrial suite with premium office build-out.
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      View Details
    • $10 SF/Yr

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      Warehouse with office space, high ceilings, and highway access.
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    • $8 SF/Yr
      Pending

      Office Space on 68th Street

      Flexible office space with high visibility and easy highway access.
      3371 68Th St SE, Caledonia, MI 49316
      View Details
    • $12 SF/Yr

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      Class A office building with modern amenities near M-6.
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      Office Space in Caledonia Business Park

      Class B office building with flexible space and ample parking.
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      View Details
    • $8 SF/Yr
      Pending

      Caledonia Office Space For Lease

      Flexible office space available on highly visible 68th St.
      3371 SE Unit, Caledonia, MI 49316
      View Details
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    Caledonia, MI 49316-9750
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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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