Three-Story Office Building For
318 River Ridge Dr NW Walker, MI 49544
For Sale
Contact for pricing
Three-story office building with leasing income and expansion potential.
Property Size32,403 SF
Price / SF$178
Days on Market765
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 Agency:
NAI Wisinski of West Michigan - Grand Rapids
Listed By:
Mary Anne Wisinski-Rosely, SIOR, CCIM · License #MI 6501268486
Source:
Crexi
Added: Jun 25, 2024
Changed: Jul 6
Last Checked: Jul 29 at 10:35AM
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 - Grand Rapids
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 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 |
32,403 SF · lease $14.64/SF/yr · vacancy 9.00% · expense 25.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
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.
