Multi-Tenant Storefront
New
For Sale
$1,250,000
2611 Alpine Ave NW, Grand Rapids, MI 49544
C-4-zoned retail building with separate storefront suites, customer restrooms, utility divisions, and Alpine Avenue exposure.
Property Size5,884 SF
Lot Size0.59 Acres
Price / SF$212.44
Days on Market5
Property Features for 2611 Alpine Ave NW
General Information
Standard status
Active
Size
5,884 SF
Lot size
0.59 Acres
Property subtype
Retail
Zoning
C-4
Site & Location
Pylon Signage
Yes
Highway Access
Yes
Road Access
Yes
Amenities
Power
Water
Sewer
Natural Gas
Vacant
Building Details
Year Built
1970
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Rivertown
Listed By:
Vinay Baria
(916) 769-8513
Source:
Carwm.resimplifi
Added: Sep 10
Changed: Sep 14
Last Checked: Sep 14 at 2:25PM
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 Keller Williams Rivertown
Investment Insights
Based on property information with market context.
Built in 1970, the 5,884-square-foot retail building contains multiple storefront suites with independent customer restrooms and separate utility service. The layout supports distinct occupancy arrangements within a single commercial property, while the C-4 zoning accommodates retail, personal-service, medical, and office uses identified for the site.
The property occupies 0.59 acres along Alpine Avenue in Grand Rapids, with 100 feet of road frontage and a dedicated pylon sign. A 280-foot lot depth provides substantial room for parking configuration and vehicle circulation. The site is positioned south of the I-96 and M-37 interchange, approximately five miles north of downtown Grand Rapids and less than a minute from an I-96 ramp.
The property occupies 0.59 acres along Alpine Avenue in Grand Rapids, with 100 feet of road frontage and a dedicated pylon sign. A 280-foot lot depth provides substantial room for parking configuration and vehicle circulation. The site is positioned south of the I-96 and M-37 interchange, approximately five miles north of downtown Grand Rapids and less than a minute from an I-96 ramp.
Key Highlights
- 5,884‑square‑foot multi‑tenant retail building
- C‑4 commercial zoning supports retail, personal‑service, medical, and office uses
- 0.59‑acre parcel with 100 feet of Alpine Avenue frontage
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
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
624
Businesses Nearby
316k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 32%
Groceries 31%
Shops & Services 23%
Home Improvements & Furnishings 13%
Meijer
Groceries
99,402 visits/mo
0.3 miles
The Home Depot
Home Improvements & Furnishings
41,384 visits/mo
0.3 miles
Meijer Gas Station
Shops & Services
19,913 visits/mo
0.2 miles
McDonald's
Dining
17,469 visits/mo
0.3 miles
Kum & Go
Shops & Services
15,946 visits/mo
0.5 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
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Frequently Asked Questions
What type of property is this?
Storefront property - C-4-zoned retail building with separate storefront suites, customer restrooms, utility divisions, and Alpine Avenue exposure.
Where is this storefront property located?
The property is located at 2611 Alpine Ave 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 retail building; C‑4 commercial zoning supports retail, personal‑service, medical, and office uses; 0.59‑acre parcel with 100 feet of Alpine Avenue frontage
