Industrial Land with Storage
For Sale
$185,000
Pending
8251 Fruit Ridge Avenue NW, Sparta, MI 49345
Land, Sparta, MI
Property Size1,324 SF
Lot Size8.27 Acres
Days on Market99
Property Features for 8251 Fruit Ridge Avenue NW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
I-1
Elementary school district
Sparta
Middle school district
Sparta
High school district
Sparta
Directions
West on 10 Mile, south on Fruit Ridge, property is on the right.
Standard status
Pending
APN
41-09-06-200-036
Lot size
8.27 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
410906200036 PART OF NE 1/4 COM 673.0 FT S ALONG E SEC LINE & 283.0 FT W FROM NE COR OF SEC TH E 283.0 FT TO E SEC LINE TH S ALONG E SEC LINE TO N LINE OF S 765.05 FT OF NE 1/4 TH N 87D 29M 18S W ALONG SD N LINE 283.0 FT TH N PAR WITH E SEC LINE TO B EG * SEC 6 T8N R12W 8.27 A. SPLIT ON 08/03/2009 FROM 41-09-06-200-007, 41-09-06-200-020;
Tax Annual Amount
2086
Legal Description
410906200036 PART OF NE 1/4 COM 673.0 FT S ALONG E SEC LINE & 283.0 FT W FROM NE COR OF SEC TH E 283.0 FT TO E SEC LINE TH S ALONG E SEC LINE TO N LINE OF S 765.05 FT OF NE 1/4 TH N 87D 29M 18S W ALONG SD N LINE 283.0 FT TH N PAR WITH E SEC LINE TO B EG * SEC 6 T8N R12W 8.27 A. SPLIT ON 08/03/2009 FROM 41-09-06-200-007, 41-09-06-200-020;
Utilities
Utilities
Electricity Available
Listing Agency:
Greenridge Realty (EGR)
(616) 458-3655
Listed By:
Giuseppe Lupis
(616) 443-4821
Added: Jun 20
Changed: Sep 12
Last Checked: Sep 26 at 2:06AM
MLS# 26030855
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 8.27-acre industrial land parcel includes two commercial storage buildings measuring 396 square feet and 928 square feet. One building has an established electrical setup, and the property is partially fenced. The existing improvements can support storage or contractor operations, while the larger parcel provides a substantial land component for future commercial development.
The property fronts Fruit Ridge Avenue NW with 1,269 feet of road frontage and is located in Sparta, within Kent County. Electricity is available. The parcel is identified in the source information as light industrial land and is master-planned for Agricultural Preservation; agricultural rezoning would be consistent with Alpine Township’s Master Plan for a single-family residential use.
The property fronts Fruit Ridge Avenue NW with 1,269 feet of road frontage and is located in Sparta, within Kent County. Electricity is available. The parcel is identified in the source information as light industrial land and is master-planned for Agricultural Preservation; agricultural rezoning would be consistent with Alpine Township’s Master Plan for a single-family residential use.
Key Highlights
- 8.27‑acre industrial land parcel
- 1,269 feet of frontage along Fruit Ridge Avenue NW
- Two commercial storage buildings: 396 SF and 928 SF
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
$7,518
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
4.06%
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%
$150,360
$150.4K
Cap Rate 7%
$107,400
$107.4K
Cap Rate 9%
$83,533
$83.5K
Market Conditions
NOI Build-Up for 1,324 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
$9.1K $6.88/SF
− Vacancy
−$264 −$0.20/SF
EGI
$8.8K $6.68/SF
− OpEx
−$1.3K −$1.00/SF
NOI
$7.5K $5.68/SF
Area
Kent County, MI
Vacancy
2.90%
Lease Rate
$6.88 /SF/Yr
Expense Ratio
15.00%
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%
$150,360
Cap Rate 7%
$107,400
Cap Rate 9%
$83,533
Alternative Uses
Best Use
Warehouse
$107.4K
$94.0K – $125.3K
NOI $7,518 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$236.8K
$207.2K – $276.3K
NOI $16,576 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 49345, MI
13,734
Population
5,074
Households
2.7
Avg Household Size
39
Median Age
28%
College-Educated
93%
High-School Grad
52.2 sq mi
ZIP Area
263
Density / Sq Mi
$84,918
Median Household Income
$44,051
Median Earnings
$968
Median Rent
$261,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial land - Partially fenced commercial parcel with existing storage improvements and electricity available.
Where is this industrial land located?
The property is located at 8251 Fruit Ridge Avenue NW Sparta, MI.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 8.27‑acre industrial land parcel; 1,269 feet of frontage along Fruit Ridge Avenue NW; Two commercial storage buildings: 396 SF and 928 SF
