Multi-Tenant Storefront Retail
For Sale
$1,250,000
2611 Alpine Avenue NW, Grand Rapids, MI 49544
COMMERCIAL - Grand Rapids, MI
Property Size5,884 SF
Lot Size0.59 Acres
Price / SF$212.44
Days on Market75
Property Features for 2611 Alpine Avenue NW
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Elementary school district
Kenowa Hills
Middle school district
Kenowa Hills
High school district
Kenowa Hills
Directions
Take Exit 30 for M-37/Alpine Avenue. S on Alpine Ave. Building on Right.
Standard status
Active
APN
41-13-11-230-044
Size
5,884 SF
Lot size
0.59 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
S 100 FT OF W 179 FT OF E 224 FT OF NE 1/4 NE 1/4 * SEC 11 T7N R12W 0.41 A. ALSO S 67 FT OF LOT 6 ALSO LOT 7 ALSO THAT P
Tax Annual Amount
12813
Legal Description
S 100 FT OF W 179 FT OF E 224 FT OF NE 1/4 NE 1/4 * SEC 11 T7N R12W 0.41 A. ALSO S 67 FT OF LOT 6 ALSO LOT 7 ALSO THAT P
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
1970
Number of units
2
Listing Agency:
Keller Williams Professionals
(734) 459-4700
Listed By:
Jeffrey Glover · License #6502408794
(616) 594-1000
Added: Jun 10
Changed: Aug 4
Last Checked: Aug 23 at 3:06PM
MLS# 26028258
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,884-square-foot storefront property contains multiple retail suites within a 1970 building on 0.59 acres. Each suite includes its own customer restrooms and separate utility arrangements, supporting independent occupancy and operating configurations. Forced-air heating is installed, and cable is available. The C-4 commercial zoning supports general retail, personal services, medical, and office uses as identified for the property.
The site fronts Alpine Avenue NW with 100 feet of road frontage and includes a dedicated pylon sign. Its 280-foot lot depth provides room for parking and vehicle circulation. The property sits south of the I-96 and M-37 interchange, less than a minute from an I-96 ramp, and is positioned five miles north of downtown Grand Rapids. Additional parcel area may support parking or site-layout changes, while any drive-thru conversion would require municipal approval.
The site fronts Alpine Avenue NW with 100 feet of road frontage and includes a dedicated pylon sign. Its 280-foot lot depth provides room for parking and vehicle circulation. The property sits south of the I-96 and M-37 interchange, less than a minute from an I-96 ramp, and is positioned five miles north of downtown Grand Rapids. Additional parcel area may support parking or site-layout changes, while any drive-thru conversion would require municipal approval.
Key Highlights
- 5,884‑square‑foot multi‑tenant storefront building on 0.59 acres
- C‑4 commercial zoning supports retail, personal services, medical, and office uses
- 100 feet of direct frontage on Alpine Avenue NW with a dedicated pylon sign
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$85,293
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,705,860
$1.7M
Cap Rate 7%
$1,218,471
$1.2M
Cap Rate 9%
$947,700
$947.7K
Market Conditions
NOI Build-Up for 5,884 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$129.2K $21.96/SF
− Vacancy
−$7.4K −$1.25/SF
EGI
$121.8K $20.71/SF
− OpEx
−$36.6K −$6.21/SF
NOI
$85.3K $14.50/SF
Area
Grand Rapids, MI
Vacancy
5.70%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,705,860
Cap Rate 7%
$1,218,471
Cap Rate 9%
$947,700
Alternative Uses
Best Use
Retail
$1.22M
$1.07M – $1.42M
NOI $85,293 @ 7.0% cap · market cap 6.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.37M
$1.19M – $1.59M
NOI $95,586 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
595
Businesses Nearby
283k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 35%
Dining 30%
Shops & Services 20%
Home Improvements & Furnishings 15%
Meijer
Groceries
99,402 visits/mo
0.3 miles
The Home Depot
Home Improvements & Furnishings
41,384 visits/mo
0.1 miles
Meijer Gas Station
Shops & Services
19,913 visits/mo
0.2 miles
McDonald's
Dining
17,469 visits/mo
0.1 miles
Wendy's
Dining
13,600 visits/mo
0.4 miles
Demographics for 49544, MI
9,514
Population
4,195
Households
2.3
Avg Household Size
35
Median Age
34%
College-Educated
94%
High-School Grad
19.9 sq mi
ZIP Area
478
Density / Sq Mi
$69,706
Median Household Income
$43,785
Median Earnings
$1,119
Median Rent
$247,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - C-4-zoned retail property with separately configured storefront suites, customer restrooms, and utility divisions.
Where is this storefront property located?
The property is located at 2611 Alpine Avenue NW Grand Rapids, MI.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 5,884‑square‑foot multi‑tenant storefront building on 0.59 acres; C‑4 commercial zoning supports retail, personal services, medical, and office uses; 100 feet of direct frontage on Alpine Avenue NW with a dedicated pylon sign
