Three-Story Office Building For
For Sale
Contact for pricing
318 River Ridge Dr NW, Walker, MI 49544
Three-story office building with leasing income and expansion potential.
Property Size32,403 SF
Price / SF$178
Days on Market861
Property Features for 318 River Ridge Dr NW
General Information
Standard status
Active
Size
32,403 SF
Class
B
Property subtype
Office
Zoning
CPUD
Building Details
Year Built
2000
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
NAI Wisinski of West Michigan
Listed By:
Jason Makowski, SIOR · License #MI
(616) 262-8532
Source:
Crexi
Added: Jun 25, 2024
Changed: Oct 30
Last Checked: Nov 1 at 4:01AM
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 NAI Wisinski of West Michigan
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Investment Insights
Based on property information with market context.
This three-story office building is located in a private setting behind the Alpine shopping corridor, with accessibility to the Alpine and I-96 interchange. Each floor has approximately 10,000 sq ft. The garden level is leased to Trinity Health, and the main floor is leased to Centria Healthcare. The upper floor, available for a new tenant or owner, features a mix of open space, private offices, a classroom, and a breakroom. The property size is 32403 sq ft. There is room on-site to expand the building or add a second building adjacent to the existing one. The existing parking lot is large enough to support two buildings.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$323,764
Cap Rate
5.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,475,280
$6.5M
Cap Rate 7%
$4,625,200
$4.6M
Cap Rate 9%
$3,597,378
$3.6M
Market Conditions
NOI Build-Up for 32,403 SF
Gross rent
$474.4K $14.64/SF
− Vacancy
−$42.7K −$1.32/SF
EGI
$431.7K $13.32/SF
− OpEx
−$107.9K −$3.33/SF
NOI
$323.8K $9.99/SF
Area
Kent County, MI
Vacancy
9.00%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,475,280
Cap Rate 7%
$4,625,200
Cap Rate 9%
$3,597,378
Alternative Uses
Best Use
Office B
$4.63M
$4.05M – $5.40M
NOI $323,764 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.80M
$5.07M – $6.76M
NOI $405,683 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
147
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Three-story office building with leasing income and expansion potential.
Where is this office building located?
The property is located at 318 River Ridge Dr NW Walker, MI.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: 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.
