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

    6640 Division S Ave Grand Rapids, MI 49548-7834

    • Auto shops
    • 1,980 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Dec 21, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0916439
    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

    • Van Laar's Auto Service / Auto Repair Shop

    Property Details for 6640 Division S Ave

    Year built
    1958
    Lot size
    0.23 lot acres
    Property size
    1,980 SF
    Zone code
    C1-NBHD COMM
    Property type
    Auto shops
    APN
    41-22-06-352-003
    APU
    412206352003

    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
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.6633
    Latitude
    42.8429
    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
    $0.00
    $0.00
    $0.00
    $55,300
    -
    $0.00
    $0.00
    $110,600

    Comparable in this City

    • Value Estimation by Request
      4,305 SF

      6600 Division S Ave

      AUTO REPAIR, GARAGE • 4,305 SF
      6600 Division S Ave, Grand Rapids, MI 49548-7806
      View Details
    • Value Estimation by Request
      3,621 SF

      7310 Division S Ave

      AUTO REPAIR, GARAGE • 3,621 SF
      7310 Division S Ave, Grand Rapids, MI 49548-7136
      View Details
    • Value Estimation by Request
      3,000 SF

      7364 Division S Ave

      AUTO REPAIR, GARAGE • 3,000 SF
      7364 Division S Ave, Grand Rapids, MI 49548-7163
      View Details
    • Value Estimation by Request
      4,200 SF

      32 Lurie SE St

      AUTO REPAIR, GARAGE • 4,200 SF
      32 Lurie SE St, Grand Rapids, MI 49548-7736
      View Details
    • Value Estimation by Request
      4,192 SF

      6980 Division S Ave

      AUTO REPAIR, GARAGE • 4,192 SF
      6980 Division S Ave, Grand Rapids, MI 49548-7178
      View Details
    • Value Estimation by Request
      6,480 SF

      7746 Division S Ave

      AUTO REPAIR, GARAGE • 6,480 SF
      7746 Division S Ave, Grand Rapids, MI 49548-7226
      View Details

    Similar Nearby for Sale

    • $599,000
      2,100 SF

      Division Avenue Auto Dealership Opportunity

      Auto dealership on busy Division Avenue with grandfathered license.
      4111-4125 Division Ave S | Wyoming, Grand Rapids, MI 49548
      View Details
    • $597,000
      2,578 SF

      Grand Rapids Automotive Business Opportunity

      Car dealership, auto garage, and tire shop for sale.
      4201 Division Ave S, Grand Rapids, MI 49548
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    • $600,000
      2,416 SF

      Grand Rapids Commercial Corner Property

      Corner location suitable for owner/operator or redevelopment.
      2960 Division Ave S, Grand Rapids, MI 49548
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    • $599,000
      2,460 SF

      Established Restaurant - Wyoming, MI

      Turnkey Restaurant, High Traffic Location
      128 28Th St, Grand Rapids, MI 49548
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    • $2,350,000
      11,180 SF

      Kentwood Convenience Store Investment

      High-traffic location, NNN lease, strong ROI.
      4410 Division Ave, Kentwood, MI 49548
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    • $495,000
      2,460 SF

      Turn-Key Restaurant Opportunity

      Fully equipped restaurant for sale with recent upgrades and high potential.
      128 28Th St SW, Wyoming, MI 49548
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    Similar Nearby for Lease

    • $13 SF/Yr
      16,200 SF

      Wyoming Industrial Warehouse Space

      16,200 SF Warehouse, Flexible Units Available
      3729 Linden Ave, Wyoming, MI 49548
      View Details
    • Contact for pricing
      14,096 SF

      Grand Rapids Retail Center Investment

      Prime Retail Space, 14,096 SF, Kent County
      6233 Division Ave, Grand Rapids, MI 49548
      View Details
    • $10 SF/Yr

      Prime Retail Space on 28th

      Spacious retail space with high visibility and ample parking.
      730 28Th St SE, Grand Rapids, MI 49548
      View Details
    • $14 SF/Yr
      11,180 SF

      Division Ave Retail Opportunity

      High-Visibility Retail Space, 11,180 SF
      4410 Division Ave, Kentwood, MI 49548
      View Details
    • $15 SF/Yr
      19,600 SF

      Kellogg Center Retail Space

      Grand Rapids retail space, 1,118 sq ft available.
      5370-5396 Division Ave, Kentwood, MI 49548
      View Details
    • $15 SF/Yr
      11,285 SF

      Division Ave SE Retail Center

      Grand Rapids Retail Space: 1,800 SF Available
      5520 Division Ave, Grand Rapids, MI 49548
      View Details
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    6640 Division S Ave
    Grand Rapids, MI 49548-7834
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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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