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    318 River Ridge Dr NW Walker, MI 49544
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    Property profile & analytics

    318 River Ridge Dr NW Walker, MI 49544

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    • Commercial real estate
    • 22,582 SF
    • 11.03 lot acres
    For Sale
    $5,800,000
    View Listing →
    Three-Story Office Building For Sale For Sale
    $5,800,000
    32,403 SF

    Three-Story Office Building For Sale

    Three-story office building with leasing income and expansion potential.

    318 River Ridge Dr NW, Walker, MI 49544
    View Listing
    Property ID
    US43-4203415
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Centria Healthcare / Medical Clinic
    • Mercy Health / Corporate Office

    Property Details for 318 River Ridge Dr NW

    Year built
    2000
    Lot size
    11.03 lot acres
    Property size
    22,582 SF
    Zone code
    CPUD
    Property type
    Commercial real estate
    APN
    41-13-01-402-016
    APU
    411301402016

    Description

    This exceptional three-story, Class B executive office building, located at 318 River Ridge Dr NW in Walker, MI, presents a unique investment opportunity. Boasting 32,403 square feet on an expansive 11.03-acre lot (480,467 sq ft), this property offers significant potential. Conveniently situated near the Alpine and I-96 interchange, it enjoys a private setting behind the Alpine shopping corridor. The building is currently multi-tenant, with the ground floor fully leased to Trinity Health. The upper two floors offer a combination of open space, private offices, classrooms, and ample break room areas. The main floor features a large training room and boardroom. The property's zoning (CPUD) allows for expansion, with sufficient parking to accommodate a second building. This presents a rare chance to acquire a substantial office building in a prime location with room for future growth. The asking price is $5,800,000, translating to $179 per square foot. Built in 2000, the property includes one building with approximately 10,000 square feet per floor. The APN is 411301402016.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,719,000
      Market price range: $993k - $3.11M
      AI Estimate
      $2,719,000
      Market price range: $993k - $3.11M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,980,000
      Current use
      RETAIL STORES
      $1,835,000
      Change: -7% Conversion: Easy
      OFFICE BUILDING
      $1,730,000
      Change: -13% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Grand Rapids
    County
    Kent
    State
    Michigan
    Longitude
    -85.6791
    Latitude
    43.0211
    CBSA code
    24340
    CBSA name
    GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $54,399
    $0.00
    $0.00
    $1,632,900
    -
    $0.00
    $0.00
    $3,265,800

    Comparable in this City

    • Value Estimation by Request
      59.89 Acres

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      COMMERCIAL (GENERAL) • 59.89 Acres
      3800 Fruit Rdg NW Ave, Grand Rapids, MI 49544-9217
      View Details
    • Value Estimation by Request
      0.87 Acres

      2200 Alpine NW Ave

      COMMERCIAL (GENERAL) • 0.87 Acres
      2200 Alpine NW Ave, Grand Rapids, MI 49544-1974
      View Details
    • Value Estimation by Request

      2290 4th Mile NW Rd

      COMMERCIAL (GENERAL)
      2290 4th Mile NW Rd, Grand Rapids, MI 49544-9703
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    • Value Estimation by Request

      2500 Turner NW Ave

      COMMERCIAL (GENERAL)
      2500 Turner NW Ave, Grand Rapids, MI 49544-2058
      View Details
    • Value Estimation
      $1,070,000
      7,773 SF

      3179 Alpine NW Ave

      COMMERCIAL (GENERAL) • 7,773 SF
      3179 Alpine NW Ave, Grand Rapids, MI 49544-1630
      View Details
    • Value Estimation
      $1,330,000
      12,576 SF

      555 3rd Mile NW Rd

      COMMERCIAL (GENERAL) • 12,576 SF
      555 3rd Mile NW Rd, Grand Rapids, MI 49544-8223
      View Details

    Similar Nearby for Sale

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      0.43 Acres

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      Established Business, High Traffic Location, Great ROI
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      View Details
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      Grand Rapids Commercial Property

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      $349,900
      Pending

      Grand Rapids 10-Acre Homesite

      Rare 10-acre parcel ideal for custom new build.
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    • Contact for pricing
      32,403 SF

      Three-Story Office Building For Sale

      Three-story office building with leasing income and expansion potential.
      318 River Ridge Dr NW, Walker, MI 49544
      View Details
    • Contact for pricing

      Highway Commercial Zoned Lots Available

      Commercial lots near I-96 interchange, close to Grand Rapids.
      2365 Northridge Dr NW, Walker, MI 49544
      View Details
    View Listing
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    Walker, MI 49544
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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