318 River Ridge Dr NW, Walker, MI 49544
Three-story office building with leasing income and expansion potential.
- Added:
- Jun 25, 2024
- Days on Market:
- 720
- Last Refresh:
- May 12 at 9:42 pm
Property Features for 318 River Ridge Dr NW
General Information
- Standard status
- Active
- Size
- 32,403 SF
- Property subtype
- Office
Building Details
- Year Built
- 2000
Listing agent Mary Anne Wisinski-Rosely, SIOR, CCIM License #MI 6501268486
Listing office NAI Wisinski of West Michigan - Grand Rapids
Listing date Jun 25, 2024
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of NAI Wisinski of West Michigan - Grand Rapids
HighLights
- Upper floor available with a mix of open space, private offices, classroom, and breakroom.
- Excellent accessibility to the Alpine and I‑96 interchange.
- Existing large parking lot can support two buildings.
- Opportunity to expand the building on site or add a second building.
- Garden Level leased to Trinity Health and Main Floor leased to Centria Healthcare, providing existing income.
- Private setting located behind the Alpine shopping corridor.
Overview
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $474.4k | $14.64 |
| − Vacancy | −$42.7k | −$1.32 |
| EGI | $431.7k | $13.32 |
| − OpEx | −$107.9k | −$3.33 |
| NOI | $323.8k | $9.99 |
Alternative Uses
Current Use by Public Records
Map
- City
- Walker
- County
- Kent
- State
- Michigan
- Longitude
- -85.7675
- Latitude
- 43.0043