Admiral Petroleum Gas
2366 Alpine Ave NW, Walker, MI 49544
For Sale
$1,406,531
Available for purchase on its own or alongside other portfolio properties.
Property Size7,007 SF
Price / SF$200.73
Days on Market29
Property Features for 2366 Alpine Ave NW
General Information
Standard status
Size
Property subtype
Lease Type
Amenities
Long Term Lease | Current Term Runs Through May 2036
Four, Five Year Renewal Options | Built-In Annual Rent Increases
Can be Purchased as an Individual Property or as Part of a Portfolio
Building Details
Building Size
Listing Agency:
Chicago Oak Brook Office
Listed By:
Timothy Nichols · License #License(s): IL: 475.159619
(630) 570-2183
Source:
Marcusmillichap
Added: Oct 9
Changed: Nov 6
Last Checked: Nov 6 at 3:23PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Chicago Oak Brook Office
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This gas station is part of an Admiral Petroleum portfolio comprising 30 properties. The portfolio includes 29 Michigan assets and one Indiana asset, with properties offered individually or in larger groupings.
The listed property is located at 2366 Alpine Ave NW in Walker, Michigan.
The listed property is located at 2366 Alpine Ave NW in Walker, Michigan.
Key Highlights
- Part of a 30‑property Admiral Petroleum portfolio
- Portfolio includes 29 Michigan properties and one Indiana property
- May be acquired individually or as part of a larger package
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,935
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,558,700
$1.6M
Cap Rate 7%
$1,113,357
$1.1M
Cap Rate 9%
$865,944
$865.9K
Market Conditions
NOI Build-Up for 7,007 SF
Gross rent
$108.5K $15.48/SF
− Vacancy
−$4.6K −$0.65/SF
EGI
$103.9K $14.83/SF
− OpEx
−$26.0K −$3.71/SF
NOI
$77.9K $11.12/SF
Area
Kent 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 Rate 5%
$1,558,700
Cap Rate 7%
$1,113,357
Cap Rate 9%
$865,944
Alternative Uses
Best Use
Specialty Retail
$1.11M
$974.2K – $1.30M
NOI $77,935 @ 7.0% cap · market cap 5.54%
Second Best
Retail
$1.04M
$909.2K – $1.21M
NOI $72,739 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,727 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
147
Businesses Nearby
7k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 100%
Great Lakes Ace
Home Improvements & Furnishings
6,579 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
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Gas station - Available for purchase on its own or alongside other portfolio properties.
Where is this gas station located?
The property is located at 2366 Alpine Ave NW Walker, MI.
What is the asking price?
The asking price for this property is $1,406,531.
What are key features of this property?
This property features: Part of a 30‑property Admiral Petroleum portfolio; Portfolio includes 29 Michigan properties and one Indiana property; May be acquired individually or as part of a larger package
