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    8009 Division S Ave Grand Rapids, MI 49548-7231
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    Property profile & analytics

    8009 Division S Ave, Grand Rapids, MI 49548-7231

    View on Map
    • Office buildings
    • 735 SF
    • 3.89 lot acres
    Off-Market
    Property ID
    US43-1808045
    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

    • Office buildings

    Property Details for 8009 Division S Ave

    Lot size
    3.89 lot acres
    Zone code
    I1-LIGHT IND
    Property type
    Office buildings
    APN
    41-22-18-300-022
    APU
    412218300022

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 26, 2021 — Tmc Commercial Properties LLC — Deed · related —
    Jan 4, 2012 $800,000 Tmc Commercial Properties LLC Wk Properties LLC Warranty Deed $325k · West Michigan Community Bank
    — — Tmc Commercial Properties LLC — Deed Of Trust · related $325k · West Michigan Community Bank
    — — Tmc Commercial Properties LLC — Deed Of Trust · related $270k · Economic Development Foun
    — — Wk Properties LLC — Deed Of Trust · related $101k · Huntington National Bank

    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
    -85.6634
    Latitude
    42.8184
    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
    2018
    $991
    $0.00
    $0.00
    $39,600
    -
    $0.00
    $0.00
    $79,200

    Comparable in this City

    • Value Estimation by Request
      4,995 SF

      7290 Division S Ave

      OFFICE BUILDING
      7290 Division S Ave, Grand Rapids, MI 49548-7237
      View Details
    • Value Estimation
      $640,000
      15,832 SF

      7120 Division S Ave

      OFFICE BUILDING
      7120 Division S Ave, Grand Rapids, MI 49548-7132
      View Details
    • Value Estimation by Request
      4,018 SF

      6132 Division S Ave

      OFFICE BUILDING
      6132 Division S Ave, Grand Rapids, MI 49548-6736
      View Details
    • Value Estimation by Request
      7,740 SF

      7530 Division S Ave

      OFFICE BUILDING
      7530 Division S Ave, Grand Rapids, MI 49548-7161
      View Details
    • Value Estimation
      $1,215,000
      23,410 SF

      6718 Division S Ave

      OFFICE BUILDING
      6718 Division S Ave, Grand Rapids, MI 49548-7808
      View Details
    • Value Estimation by Request
      2,560 SF

      6550 Division S Ave

      OFFICE BUILDING
      6550 Division S Ave, Grand Rapids, MI 49548-7804
      View Details

    Similar Nearby for Sale

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    • $395,000

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      Division Avenue Mixed-Use Building

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      Office or mixed-use building on busy Division Avenue.
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      Renovated Retail/Office Building Near Kellogg's

      3,900 SF renovated property with 28th Street frontage.
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      Wyoming Commercial Property on Division

      High-visibility commercial property with retail, office, and warehouse space.
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    Similar Nearby for Lease

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      Wyoming Office Building with Expansion

      101,682 SF office building with expansion potential.
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      Industrial Space Near US-131

      40,177 SF industrial space for lease, immediate availability.
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      Office Space at Warehouse Facility

      Front-of-warehouse office offers a refreshed work environment within an established industrial park setting.
      3230 Jefferson Ave Southeast, Grand Rapids, MI 49548
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      Wyoming Flex Space with Offices

      Flex spaces with office and warehouse components near US-131.
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    • $17 SF/Yr
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      Grand Rapids Restaurant Ready Space

      Fully built-out restaurant space within a busy, well-established hotel.
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    • Contact for pricing

      Retail Space on Division Avenue

      Retail space available on a busy street with ample parking.
      5520 Division Ave S, Grand Rapids, MI 49548
      View Details
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    Grand Rapids, MI 49548-7231
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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.

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