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    750 Lake Dr Grand Rapids, MI 49503
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    750 Lake Dr, Grand Rapids, MI 49503

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    • Residential income homes
    Off-Market
    Property ID
    US43-0571770
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 750 Lake Dr

    Property type
    Residential income homes

    Description

    This exceptional investment opportunity presents a portfolio of five multi-family buildings located in Grand Rapids, Michigan, within Kent County, specifically in the 49503 zip code. The portfolio comprises a total of ten rental units, strategically situated across five addresses: 750, 716, 730, 732 Lake Drive SE, and 305 Eastern Avenue SE. The properties offer a mix of unit sizes and configurations to cater to diverse tenant needs. Two buildings feature two 3-bedroom, 1-bathroom units (2500 sq ft total) and another two buildings each contain two 2-bedroom, 1-bathroom units (1600 sq ft total). The remaining building offers a mix of a 2-bedroom, 1-bathroom unit and a 3-bedroom, 1-bathroom unit (1600 sq ft total). This portfolio presents a compelling opportunity for investors seeking immediate cash flow and long-term appreciation potential in a desirable Grand Rapids location. The asking price for this turnkey investment is $1,400,000. The properties are offered as a single package, providing a streamlined acquisition process and significant economies of scale. This is a rare opportunity to acquire a well-established rental portfolio in a thriving market. Detailed financial information and property specifics are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.6496635
    Latitude
    42.9609079

    Comparable in this City

    • $365,000

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      Two-Unit Multifamily Near Eastown

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      Grand Rapids Multifamily Investment Opportunity

      Two-unit property in the Historic Wealthy St Business District.
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      Grand Rapids Two-Family Home

      Two-unit property in Grand Rapids with updated features.
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    Similar Nearby for Sale

    • $365,000

      Northeast Grand Rapids Two-Unit Property

      Two-unit property in excellent location, ideal for investment or occupancy.
      752 Crescent St NE, Grand Rapids, MI 49503
      View Details
    • $275,000
      Pending

      Two-Unit Multifamily Near Eastown

      Two-unit property near Eastown, ideal for owner-occupants or investors.
      727 Union Ave SE, Grand Rapids, MI 49503
      View Details
    • $879,000
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      Grand Rapids Income-Producing Duplex

      Spacious duplex in Heritage Hill near downtown and universities.
      340 Cherry St SE, Grand Rapids, MI 49503
      View Details
    • $319,900
      Pending

      Grand Rapids Multifamily Investment Opportunity

      Two-unit property in the Historic Wealthy St Business District.
      320 Charles Ave SE, Grand Rapids, MI 49503
      View Details
    • New
      $280,000
      0.10 Acres

      Grand Rapids Two-Family Home

      Two-unit property in Grand Rapids with updated features.
      712 Baxter St SE, Grand Rapids, MI 49503
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr

      Downtown Grand Rapids Mixed-Use Space

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      Retail Spaces Available For Rent

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      Prime Downtown Grand Rapids Location

      High-visibility commercial space in a central downtown location.
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      Retail Space in Heritage Hill

      Prime retail space in the Historical Heritage Hill District.
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      7,510 SF

      Turn-Key Office Space Available

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      Downtown Grand Rapids

      Discover many ways to work your way in Downtown Grand Rapids
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    750 Lake Dr
    Grand Rapids, MI 49503
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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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