3130 Alpine NW Ave Grand Rapids, MI 49544-1651

Property Details for 3130 Alpine NW Ave

Year built

1989

Lot size

3.81 lot acres

Zone code

CPUD

Property type

Commercial real estate

APN

41-13-01-301-006

APU

411301301006

Description

This exceptional investment opportunity presents a 45,763 square foot, single-tenant, Class A retail property featuring a 15-year net lease with Crunch Fitness, a well-established franchisee. The property, located at 3130 Alpine Ave NW in Walker, MI (49544), boasts a strong 7.95% cap rate and a substantial NOI of $647,546. Built in 1989 and renovated in 2024, this building sits on a 4-6 acre lot and benefits from excellent visibility and accessibility along a major commercial corridor with over 50,600 vehicles passing daily. The lease includes three, 5-year options with a 10% rent increase every 5 years and in each option, providing a hedge against inflation. The property is strategically positioned near numerous national retailers, including Burger King, Hobby Lobby, Home Goods, McDonald's, Meijer, Sam's Club, Target, Ulta, and Walmart, and adjacent to a new McAlister's Deli. Its location within the Grand Rapids MSA, a market of approximately 1.1 million people experiencing significant growth, further enhances its value. The property's proximity to major employers like Bissell Homecare, Meijer, and Spectrum Health, coupled with a strong population density and high average household income within a 5-mile radius, ensures a stable and lucrative investment. The asking price is $8,145,000, with a price per square foot of $177.98 and a land value price per square foot of $191.22. This is a rare opportunity to acquire a high-performing, long-term net lease investment in a thriving market.