Crunch Fitness 3130 Alpine Ave NW 45,763 SF Retail Building Grand Rapids, MI 49544 $11,465,961 CAD ($250.55 CAD/SF) 7.95% Cap Rate
INVESTMENT HIGHLIGHTS
- New Long-Term 15-Year Lease with Three, 5-Year Options Available
- Positioned Along a Main Commercial Corridor Surrounded by a Plethora of National Retailers
- Situated Along Alpine Avenue which is a Main North-South Thoroughfare Connecting the City of Walker to I-96 and US Route 131
- Lease Features Strong 10% Rental Increases Every 5 Years Throughout the Term and in Each Option Offering a Hedge Against Inflation
- New McAlister's Deli Currently Being Developed Adjacent to the Subject Property Displaying Strong Continuous Economic Development in the Immediate Are
- Excellent Visibility with Frontage and Signage Along Alpine Avenue | Traffic Counts Exceed 50,600+ Vehicles Per Day
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Retail
Building Size
45,763 SF
Building Class
C
Year Built/Renovated
1989/2024
Price
$11,465,961 CAD
Price Per SF
$250.55 CAD
Cap Rate
7.95%
NOI
$911,568 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
5.56 AC
Parking
300 Spaces (6.56 Spaces per 1,000 SF Leased)
Frontage
482’ on Alpine Ave
AMENITIES
- Pylon Sign
- Signage
- Signalized Intersection
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $0 CAD | Total Assessment | $3,087,045 CAD |
