Admiral Petroleum Gas
New
For Sale
$1,640,952
2525 S State Rd, Ionia, MI 48846
The Ionia site is offered on its own or as part of a multi-property acquisition.
Property Size3,755 SF
Price / SF$437
Days on Market4
Property Features for 2525 S State Rd
General Information
Standard status
Active
Size
3,755 SF
Property subtype
Auto Service - Gas-Conv
Lease Type
NNN
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
3,755 SF
Listed By:
Timothy Nichols · License #License(s): IL: 475.159619
(630) 570-2183
Source:
Marcusmillichap
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 11 at 3:03AM
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 Timothy Nichols
Investment Insights
Based on property information with market context.
The gas station at 2525 S State Rd in Ionia, Michigan, is included in an Admiral Petroleum portfolio of 30 properties. The portfolio spans 29 Michigan locations and one Indiana location, with the option to acquire this property individually or alongside other portfolio assets.
Key Highlights
- Part of a 30‑property Admiral Petroleum portfolio
- Portfolio includes 29 Michigan properties and one Indiana property
- Available individually or as part of a larger acquisition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,086
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,001,720
$1.0M
Cap Rate 7%
$715,514
$715.5K
Cap Rate 9%
$556,511
$556.5K
Market Conditions
NOI Build-Up for 3,755 SF
Gross rent
$71.2K $18.96/SF
− Vacancy
−$4.4K −$1.18/SF
EGI
$66.8K $17.78/SF
− OpEx
−$16.7K −$4.45/SF
NOI
$50.1K $13.34/SF
Area
Ionia County, MI
Vacancy
6.20%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,001,720
Cap Rate 7%
$715,514
Cap Rate 9%
$556,511
Alternative Uses
Best Use
Specialty Retail
$715.5K
$626.1K – $834.8K
NOI $50,086 @ 7.0% cap · market cap 3.05%
Second Best
Retail
$523.8K
$458.4K – $611.1K
NOI $36,668 @ 7.0% cap · market cap 2.23%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
116k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Shops & Services 42%
Electronics 1%
McDonald's
Dining
29,422 visits/mo
0.3 miles
Meijer Gas Station
Shops & Services
20,953 visits/mo
0.2 miles
Culver's
Dining
17,411 visits/mo
0.0 miles
Arby's
Dining
11,170 visits/mo
0.2 miles
Mobil
Shops & Services
8,819 visits/mo
0.4 miles
Demographics for 48846, MI
22,470
Population
7,597
Households
3
Avg Household Size
38
Median Age
12%
College-Educated
88%
High-School Grad
110.6 sq mi
ZIP Area
203
Density / Sq Mi
$66,717
Median Household Income
$37,858
Median Earnings
$804
Median Rent
$172,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Gas station - The Ionia site is offered on its own or as part of a multi-property acquisition.
Where is this gas station located?
The property is located at 2525 S State Rd Ionia, MI.
What is the asking price?
The asking price for this property is $1,640,952.
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; Available individually or as part of a larger acquisition
