Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    985 Parchment SE Dr Grand Rapids, MI 49546-3659

    • Commercial real estate
    • 1,963 SF
    • 0.93 lot acres
    OFF-MARKET
    Last Sale
    Oct 12, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1450908
    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

    • Abacus Title Agency / Insurance Company / Title Company
    • Mindful Counseling GR | Counseling & Therapy Services In Grand Rapids & West Michigan / Counselor / Mental Health Service
    • Vanderwall Todd / Insurance Agency

    Property Details for 985 Parchment SE Dr

    Year built
    1982
    Lot size
    0.93 lot acres
    Property size
    1,963 SF
    Zone code
    C-2
    Property type
    Commercial real estate
    APN
    41-14-36-455-009
    APU
    411436455009

    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
    -85.5604
    Latitude
    42.9448
    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
    2019
    $4,651
    $0.00
    $0.00
    $138,500
    -
    $0.00
    $0.00
    $277,000

    Comparable in this City

    • Value Estimation by Request

      4236 Hls SE Ct

      COMMERCIAL (GENERAL)
      4236 Hls SE Ct, Grand Rapids, MI 49546-6249
      View Details
    • Value Estimation by Request
      8.39 Acres

      6115 28th SE St

      COMMERCIAL (GENERAL) • 8.39 Acres
      6115 28th SE St, Grand Rapids, MI 49546-6942
      View Details
    • Value Estimation by Request
      60.06 Acres

      1600 Galbraith SE Ave

      COMMERCIAL (GENERAL) • 60.06 Acres
      1600 Galbraith SE Ave, Grand Rapids, MI 49546-6453
      View Details
    • Value Estimation by Request
      16.91 Acres

      3674 Camelot SE Dr

      COMMERCIAL (GENERAL) • 16.91 Acres
      3674 Camelot SE Dr, Grand Rapids, MI 49546-6060
      View Details
    • Value Estimation by Request
      6.79 Acres

      4345 Cascade SE Rd

      COMMERCIAL (GENERAL) • 6.79 Acres
      4345 Cascade SE Rd, Grand Rapids, MI 49546-3630
      View Details
    • Value Estimation by Request
      20.26 Acres

      2320 Beltline SE Ave

      COMMERCIAL (GENERAL) • 20.26 Acres
      2320 Beltline SE Ave, Grand Rapids, MI 49546-5906
      View Details

    Similar Nearby for Sale

    • $4,650,000
      29,470 SF

      Grand Rapids Executive Office Building

      Class A Office, 29,470 SF, High Visibility
      695 Kenmoor Ave, Grand Rapids, MI 49546
      View Details
    • $300,000

      Land Available For Sale

      Land available for sale in Forest Hills, Michigan.
      1598 Macnider Ave SE, Forest Hills, MI 49546
      View Details
    • $499,900
      7.29 Acres

      Forest Hills Acreage Ready

      7.29 acres in Forest Hills, zoned for development.
      3750 Charlevoix Dr SE, Grand Rapids, MI 49546
      View Details
    • $6,850,000

      Updated Office and Warehouse Investment

      Class A office and newer warehouse near airport for sale.
      5989 Tahoe Dr SE, Grand Rapids, MI 49546
      View Details
    • $325,000
      1,611 SF

      Spacious Condo with Updated Interior

      Move-in ready 4-bedroom condo with low-maintenance living.
      2743 Mulford Dr SE City of, Grand Rapids, MI 49546
      View Details
    • $795,000
      6,998 SF

      Office/Retail Building on Bustling Corridor

      Office and retail zoned building in Forest Hills.
      4551 Cascade Rd SE, Grand Rapids, MI 49546
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      30,501 SF

      Grand Rapids Office Space for Lease

      Prime Cascade Rd Office, 2,114 SF Available
      5070 Cascade Rd, Grand Rapids, MI 49546
      View Details
    • $14 SF/Yr
      7,324 SF

      Grand Rapids Office Space Available

      Prime Office Suites, I-96 Access
      4450 Cascade Rd, Grand Rapids, MI 49546
      View Details
    • $13 SF/Yr
      20,183 SF

      Grand Rapids Office Suites Available

      Affordable Office Space, Prime Location
      6151 28Th St, Grand Rapids, MI 49546
      View Details
    • $17 SF/Yr
      77,714 SF

      Grand Rapids Class A Office Space

      77,714 SF Office Building, Multiple Suites Available
      3033 Orchard Vista Dr, Grand Rapids, MI 49546
      View Details
    • $18 SF/Yr
      17,500 SF

      Executive Suites, Ada/Cascade

      Modern Office Space Available, I-96 Access
      847 Parchment Dr, Grand Rapids, MI 49546
      View Details
    • $15 SF/Yr
      12,000 SF

      Office Building on Cascade Road

      Multi-tenant office building with high visibility and ample parking.
      4081 Cascade Rd SE, Grand Rapids, MI 49546
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    985 Parchment SE Dr
    Grand Rapids, MI 49546-3659
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.