Gas Station
New
For Sale
$1,115,849
5342 S Westnedge Ave, Portage, MI 49002
Available individually or as part of a larger multi-property offering.
Property Size6,734 SF
Price / SF$165.70
Days on Market3
Property Features for 5342 S Westnedge Ave
General Information
Standard status
Active
Size
6,734 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
6,734 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 2:57AM
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 Portage asset is part of a 30-property Admiral Petroleum portfolio that includes 29 properties in Michigan and one in Indiana. Each property is available for individual acquisition or as part of a larger package.
Key Highlights
- Part of a 30‑property Admiral Petroleum portfolio
- Portfolio includes 29 Michigan assets and one Indiana asset
- Available individually or as part of a larger package
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,583
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,031,660
$2.0M
Cap Rate 7%
$1,451,186
$1.5M
Cap Rate 9%
$1,128,700
$1.1M
Market Conditions
NOI Build-Up for 6,734 SF
Gross rent
$148.7K $22.08/SF
− Vacancy
−$3.6K −$0.53/SF
EGI
$145.1K $21.55/SF
− OpEx
−$43.5K −$6.47/SF
NOI
$101.6K $15.09/SF
Area
Kalamazoo County, MI
Vacancy
2.40%
Lease Rate
$22.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,031,660
Cap Rate 7%
$1,451,186
Cap Rate 9%
$1,128,700
Alternative Uses
Best Use
Industrial
$1.45M
$1.27M – $1.69M
NOI $101,583 @ 7.0% cap · market cap 9.10%
Second Best
Specialty Retail
$902.5K
$789.7K – $1.05M
NOI $63,178 @ 7.0% cap · market cap 5.66%
Theoretical Best
Warehouse
$1.76M
$1.54M – $2.06M
NOI $123,351 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
515
Businesses Nearby
490k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Groceries 25%
Shops & Services 22%
Home Improvements & Furnishings 14%
Meijer
Groceries
101,867 visits/mo
0.3 miles
Lowe's
Home Improvements & Furnishings
29,124 visits/mo
0.4 miles
Panda Express
Dining
25,968 visits/mo
0.3 miles
Meijer Gas Station
Shops & Services
25,902 visits/mo
0.2 miles
Red Robin Gourmet Burgers
Dining
24,671 visits/mo
0.3 miles
Demographics for 49002, MI
19,553
Population
8,975
Households
2.2
Avg Household Size
41
Median Age
43%
College-Educated
96%
High-School Grad
17.3 sq mi
ZIP Area
1,130
Density / Sq Mi
$71,621
Median Household Income
$45,938
Median Earnings
$910
Median Rent
$223,000
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
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Frequently Asked Questions
What type of property is this?
Gas station - Available individually or as part of a larger multi-property offering.
Where is this gas station located?
The property is located at 5342 S Westnedge Ave Portage, MI.
What is the asking price?
The asking price for this property is $1,115,849.
What are key features of this property?
This property features: Part of a 30‑property Admiral Petroleum portfolio; Portfolio includes 29 Michigan assets and one Indiana asset; Available individually or as part of a larger package
