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    4322 Alpine NW Ave Comstock Park, MI 49321-8506
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    Property profile & analytics

    4322 Alpine NW Ave, Comstock Park, MI 49321-8506

    View on Map
    • Grocery and convenience stores
    • 15,650 SF
    • 2.04 lot acres
    Off-Market
    Last Sale May 2, 2023
    Property ID
    US43-0997479
    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
    $1,665,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Gordon Food Service Store / Grocery & Convenience Store / Food Market

    Property Details for 4322 Alpine NW Ave

    Year built
    1996
    Lot size
    2.04 lot acres
    Zone code
    C-2
    Property type
    Grocery and convenience stores
    APN
    41-09-36-101-045
    APU
    410936101045

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 2, 2023 — Michigan Retail Stores LLC Pinnacle Real Estate INC Warranty Deed —
    Apr 14, 2023 — Michigan Retail Stores LLC Michigan Retail Stores LLC Intrafamily Transfer · related —
    May 17, 2022 — Connacht Realty LLC Van Westen Capital LLC Quit Claim Deed —
    Nov 20, 2014 $1,330,000 Connacht Realty LLC Gaelic Financial Services LLC Warranty Deed —
    Mar 23, 2011 — Gaelic Financial Services LLC — Deed Of Trust · related $50M · Barclays Bank Plc

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,666,000
      Market price range: $690k - $1.84M
      AI Estimate
      $1,666,000
      Market price range: $690k - $1.84M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,270,000
      Current use
      COMMERCIAL (GENERAL)
      $1,285,000
      Change: +1% Conversion: Easy
      OFFICE BUILDING
      $1,200,000
      Change: -6% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Comstock Park
    County
    Kent
    State
    Michigan
    Longitude
    -85.6889
    Latitude
    43.0421
    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
    2019
    $24,253
    $0.00
    $0.00
    $758,300
    -
    $0.00
    $0.00
    $1,516,600

    Comparable in this City

    • Value Estimation
      $855,000
      7,260 SF

      5960 Alpine NW Ave

      GROCERY, SUPERMARKET
      5960 Alpine NW Ave, Comstock Park, MI 49321-9717
      View Details
    • Value Estimation
      $2,180,000
      18,533 SF

      4101 Alpine NW Ave

      GROCERY, SUPERMARKET
      4101 Alpine NW Ave, Comstock Park, MI 49321-8349
      View Details
    • Value Estimation by Request
      3,644 SF

      5568 Alpine NW Ave

      GROCERY, SUPERMARKET
      5568 Alpine NW Ave, Comstock Park, MI 49321-8310
      View Details
    • Value Estimation
      $535,000
      4,560 SF

      3623 Alpine NW Ave

      GROCERY, SUPERMARKET
      3623 Alpine NW Ave, Comstock Park, MI 49321-9705
      View Details
    • Value Estimation
      $625,000
      5,290 SF

      5133 Alpine NW Ave

      GROCERY, SUPERMARKET
      5133 Alpine NW Ave, Comstock Park, MI 49321-9729
      View Details
    • Value Estimation
      $525,000
      4,478 SF

      4258 Alpine NW Ave

      GROCERY, SUPERMARKET
      4258 Alpine NW Ave, Comstock Park, MI 49321-8505
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Commercial Auto Shop

      Commercial auto shop on busy Alpine Avenue near I-96.
      4411 Alpine Ave NW, Comstock Park, MI 49321
      View Details
    • Contact for pricing
      111,242 SF

      Retail Property For Sale/Lease

      Retail property available for sale or lease.
      4273 Alpine Ave NW, Comstock Park, MI 49321
      View Details
    • Contact for pricing
      4,931 SF

      Comstock Park Mixed-Use Investment Opportunity

      Highly visible commercial building with apartments in Comstock Park.
      3955 W River Dr NE, Comstock Park, MI 49321
      View Details
    • $848,900
      4,931 SF

      Comstock Park Commercial Building

      Highly visible commercial building with apartments and income potential.
      3955 W River Dr NE, Comstock Park, MI 49321
      View Details
    • Contact for pricing

      Comstock Park Auto Services Opportunity

      Established auto services business, building, land, and inventory for sale.
      4765 West River Dr NE, Comstock Park, MI 49321
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space on Alpine Avenue

      1,150 SF retail suite with high traffic and visibility.
      4669 Alpine Ave NW, Comstock Park, MI 49321
      View Details
    • Contact for pricing

      Industrial Single Tenant Warehouse

      Single tenant industrial warehouse property available for rent.
      5180 W River Dr NE, Comstock Park, MI 49321
      View Details
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    Comstock Park, MI 49321-8506
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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.

    More about this property
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    4322 Alpine NW Ave, Comstock Park, MI, 49321
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