Building Details

Year Built 1970

Buildings 1

Tenancy Multi

Listing Agency: Keller Williams Professionals

Listed By: Jeffrey Glover · License #6502408794 Show Phone

Source: Vmrealestatemichigan

Added: Feb 18 Changed: Oct 1 Last Checked: Oct 16 at 8:56AM

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Investment Insights

Based on property information with market context.

This 5,884-square-foot retail property contains multiple storefront suites within a 1970-built building. Each suite includes its own customer restroom and separate utility arrangements, supporting distinct occupancy configurations. The 0.59-acre parcel also includes a dedicated pylon sign and 100 feet of frontage along Alpine Avenue.

The property is positioned south of the I-96 and M-37 interchange, less than a minute from an I-96 ramp and approximately five miles north of downtown Grand Rapids. Its C-4 commercial zoning supports general retail, specialized personal services, and medical or office configurations. A 280-foot lot depth provides flexibility for parking organization and vehicle circulation, while any drive-through conversion would require local municipal approval.

Key Highlights

• 5,884‑square‑foot multi‑tenant retail building on a 0.59‑acre lot
• C‑4 commercial zoning supports retail, personal services, medical, and office configurations
• 100 feet of direct frontage on Alpine Avenue with a dedicated pylon street sign

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$61,081

Cap Rate

4.89%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,221,620 $1.2M

Cap Rate 7%

$872,586 $872.6K

Cap Rate 9%

$678,678 $678.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,884 SF

Gross rent

$91.1K $15.48/SF

− Vacancy

−$3.8K −$0.65/SF

EGI

$87.3K $14.83/SF

− OpEx

−$26.2K −$4.45/SF

NOI

$61.1K $10.38/SF

Area

Kent County, MI

Vacancy

4.20%

Lease Rate

$15.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,221,620

Cap Rate 7%

$872,586

Cap Rate 9%

$678,678

Alternative Uses

Best Use

Retail

$872.6K

$763.5K – $1.02M (±1% cap)

NOI $61,081 @ 7.0% cap · market cap 4.89%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.05M

$920.8K – $1.23M (±1% cap)

NOI $73,667 @ 7.0% cap · market cap 5.89%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Retail space

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Restaurant Spa & Massage Center Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Retail space - C-4-zoned commercial building with separated storefront suites, customer restrooms, and independent utility arrangements.

Where is this retail space located?

The property is located at 2611 Alpine Ave NW Walker, 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 on a 0.59‑acre lot; C‑4 commercial zoning supports retail, personal services, medical, and office configurations; 100 feet of direct frontage on Alpine Avenue with a dedicated pylon street sign