Convenience Store
For Sale
$399,900
17176 W Spring Lake Road, Spring Lake, MI 49456
Commercial Sale, Spring Lake, MI
Property Size1,738 SF
Lot Size0.10 Acres
Price / SF$230.09
Days on Market47
Property Features for 17176 W Spring Lake Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
RG - 1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Grand Haven
Middle school district
Grand Haven
High school district
Grand Haven
Directions
US-31 north to Exit 104B towards Ferrysburg; Turn Right onto 3rd Street; Left onto Pine Street; Continue straight onto W Spring Lake Road to address.
Standard status
Active
APN
70-03-15-103-002
Size
1,738 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
W 85.7 FT LOT 21 BLK 3 SUNNYSIDE PLAT
Tax Annual Amount
4022
Legal Description
W 85.7 FT LOT 21 BLK 3 SUNNYSIDE PLAT
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1946
Number of units
1
Building materials
Wood Siding
Listing Agency:
RE/MAX Lakeshore · RE/MAX International
(616) 396-1400
Listed By:
Leslie Baker · License #6502416607
(616) 218-0650
Added: Jul 13
Changed: Aug 20
Last Checked: Aug 28 at 12:06AM
MLS# 26035701
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 commercial property includes a 1,738-square-foot building on 0.1 acres. Constructed in 1946, the building has wood siding, forced-air heating, central air conditioning, and one bathroom. The property is classified within the grocery and convenience store category.
Located at 17176 W Spring Lake Road in Spring Lake, Michigan, the site carries RG-1 zoning. Commercial use may continue despite the zoning designation, providing an established framework for continued commercial occupancy. The property is situated in Ottawa County and is identified by postal code 49456.
Located at 17176 W Spring Lake Road in Spring Lake, Michigan, the site carries RG-1 zoning. Commercial use may continue despite the zoning designation, providing an established framework for continued commercial occupancy. The property is situated in Ottawa County and is identified by postal code 49456.
Key Highlights
- 1,738‑square‑foot building on a 0.1‑acre parcel
- RG‑1 zoning with commercial use able to continue
- Built in 1946 with wood siding construction
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
$19,331
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
4.83%
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%
$386,620
$386.6K
Cap Rate 7%
$276,157
$276.2K
Cap Rate 9%
$214,789
$214.8K
Market Conditions
NOI Build-Up for 1,738 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
$26.9K $15.48/SF
− Vacancy
−$1.1K −$0.65/SF
EGI
$25.8K $14.83/SF
− OpEx
−$6.4K −$3.71/SF
NOI
$19.3K $11.12/SF
Area
Ottawa County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
25.00%
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%
$386,620
Cap Rate 7%
$276,157
Cap Rate 9%
$214,789
Alternative Uses
Best Use
Specialty Retail
$276.2K
$241.6K – $322.2K
NOI $19,331 @ 7.0% cap · market cap 4.83%
Second Best
Retail
$257.7K
$225.5K – $300.7K
NOI $18,042 @ 7.0% cap · market cap 4.51%
Theoretical Best
Multifamily LT 5
$21.61M
$18.91M – $25.21M
NOI $1,512,875 @ 7.0% cap · market cap 378.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49456, MI
19,727
Population
9,776
Households
2
Avg Household Size
45
Median Age
47%
College-Educated
98%
High-School Grad
25.3 sq mi
ZIP Area
780
Density / Sq Mi
$85,807
Median Household Income
$50,887
Median Earnings
$1,184
Median Rent
$294,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - RG-1-zoned commercial property with existing building improvements and central air conditioning.
Where is this grocery and convenience store located?
The property is located at 17176 W Spring Lake Road Spring Lake, MI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 1,738‑square‑foot building on a 0.1‑acre parcel; RG‑1 zoning with commercial use able to continue; Built in 1946 with wood siding construction
