Gas
New
For Sale
$830,963
3221 Division Ave S, Wyoming, MI 49548
This Michigan asset may be acquired individually or alongside other properties in a multi-state petroleum portfolio.
Property Size7,028 SF
Price / SF$118.24
Days on Market3
Property Features for 3221 Division Ave S
General Information
Standard status
Active
Size
7,028 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
7,028 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 10 at 2:51AM
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 offering is part of a 30-property petroleum portfolio spanning Michigan and Indiana. Acquisition options include purchasing this asset individually or as part of a larger group. The portfolio contains 29 Michigan properties and one Indiana property.
The listed property is located at 3221 Division Ave S in Wyoming, Michigan.
The listed property is located at 3221 Division Ave S in Wyoming, Michigan.
Key Highlights
- Part of a 30‑property petroleum portfolio
- Portfolio includes 29 Michigan assets and one Indiana asset
- Available individually or as part of a larger portfolio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,957
Cap Rate
8.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,459,140
$1.5M
Cap Rate 7%
$1,042,243
$1.0M
Cap Rate 9%
$810,633
$810.6K
Market Conditions
NOI Build-Up for 7,028 SF
Gross rent
$108.8K $15.48/SF
− Vacancy
−$4.6K −$0.65/SF
EGI
$104.2K $14.83/SF
− OpEx
−$31.3K −$4.45/SF
NOI
$73.0K $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%
$1,459,140
Cap Rate 7%
$1,042,243
Cap Rate 9%
$810,633
Alternative Uses
Best Use
Specialty Retail
$1.12M
$977.1K – $1.30M
NOI $78,168 @ 7.0% cap · market cap 9.41%
Second Best
Retail
$1.04M
$912.0K – $1.22M
NOI $72,957 @ 7.0% cap · market cap 8.78%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $87,990 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
746
Businesses Nearby
22k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 80%
Dining 20%
Speedway
Shops & Services
11,780 visits/mo
0.2 miles
Little Caesars Pizza
Dining
4,492 visits/mo
0.2 miles
Chase Bank
Shops & Services
4,333 visits/mo
0.3 miles
Pak Mail
Shops & Services
1,440 visits/mo
0.2 miles
Demographics for 49548, MI
34,741
Population
13,174
Households
2.6
Avg Household Size
34
Median Age
17%
College-Educated
86%
High-School Grad
10.8 sq mi
ZIP Area
3,217
Density / Sq Mi
$62,218
Median Household Income
$35,831
Median Earnings
$1,129
Median Rent
$149,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - This Michigan asset may be acquired individually or alongside other properties in a multi-state petroleum portfolio.
Where is this gas station located?
The property is located at 3221 Division Ave S Wyoming, MI.
What is the asking price?
The asking price for this property is $830,963.
What are key features of this property?
This property features: Part of a 30‑property petroleum portfolio; Portfolio includes 29 Michigan assets and one Indiana asset; Available individually or as part of a larger portfolio
