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Shopping Strip

Alpine Crossings

4174 Alpine Ave NW, Comstock Park, MI 49321

Listing Price: $2,659,144

Cap Rate
7.62%
Gross SF
12,048
Rentable SF
12,048
Price/Gross SF
$220.71
Lot Size
1.64 acres
Year Built
2007

Investment Overview

Marcus & Millichap is pleased to offer for sale Alpine Crossings, a three-tenant retail center located at 4174 Alpine Ave NW in Comstock Park, Michigan. The property was constructed in 2007 and sits on a 1.64-acre parcel with ample parking and 12,048 square feet of total rentable space. The 100 percent occupied center is tenanted by local retailers including Barking Boutique, El Burrito Loco and Galactic Toys. All tenants are on triple-net leases with annual rent increases and personal guarantees. The center is strategically located on Alpine Ave which experiences over 21,600 vehicles per day. Nearby is the US-131 and Interstate-96 highway interchange with a combined traffic count of over 127,000 vehicles per day. The area benefits from a dense retail market with 8.8 million square feet of retail in a five-mile radius. There are over 125,800 full-time residents with an average household income exceeding $70,000 per year within five miles of the asset. The subject property is positioned ten minutes north from Downtown Grand Rapids, across from a Menards. Adjacent to the asset is ALDI, Walmart and Sam’s Club. Other nearby national retailers include Gordon Food Service, Planet Fitness, JoAnn Fabrics, Best Buy, Hobby Lobby, Kohl’s, Target, Homegoods, Michaels, among many others. Alpine Crossings is an excellent opportunity to acquire a stabilized property in a core retail corridor north of Downtown Grand Rapids.

Investment Highlights

  • 100 Percent Occupied Center with Triple-Net Retail Tenants with Personal Guarantees
  • Barking Boutique has 4 Percent Annual Rent Increases
  • El Burrito Loco has 2 Percent Annual Rent Increases | Original Tenant
  • Galactic Toys has 3 Percent Annual Rent Increases
  • Across from Menards | Adjacent to Walmart, ALDI and Sam's Club
  • Dense Retail Market | 8.8 Million SF in Five Miles
  • Excellent Demographics | 125,852 Residents & Average Household Income of $70,236 within Five Miles
  • 10 Minutes North of Downtown Grand Rapids

Exclusively Listed By

Shopping Strip

Alpine Crossings

Listing Price: $2,659,144

Cap Rate
7.62%
Gross SF
12,048
Rentable SF
12,048
Price/Gross SF
$220.71
Lot Size
1.64 acres
Year Built
2007

Investment Highlights

  • 100 Percent Occupied Center with Triple-Net Retail Tenants with Personal Guarantees
  • Barking Boutique has 4 Percent Annual Rent Increases
  • El Burrito Loco has 2 Percent Annual Rent Increases | Original Tenant
  • Galactic Toys has 3 Percent Annual Rent Increases
  • Across from Menards | Adjacent to Walmart, ALDI and Sam's Club
  • Dense Retail Market | 8.8 Million SF in Five Miles
  • Excellent Demographics | 125,852 Residents & Average Household Income of $70,236 within Five Miles
  • 10 Minutes North of Downtown Grand Rapids

Investment Overview

Marcus & Millichap is pleased to offer for sale Alpine Crossings, a three-tenant retail center located at 4174 Alpine Ave NW in Comstock Park, Michigan. The property was constructed in 2007 and sits on a 1.64-acre parcel with ample parking and 12,048 square feet of total rentable space. The 100 percent occupied center is tenanted by local retailers including Barking Boutique, El Burrito Loco and Galactic Toys. All tenants are on triple-net leases with annual rent increases and personal guarantees. The center is strategically located on Alpine Ave which experiences over 21,600 vehicles per day. Nearby is the US-131 and Interstate-96 highway interchange with a combined traffic count of over 127,000 vehicles per day. The area benefits from a dense retail market with 8.8 million square feet of retail in a five-mile radius. There are over 125,800 full-time residents with an average household income exceeding $70,000 per year within five miles of the asset. The subject property is positioned ten minutes north from Downtown Grand Rapids, across from a Menards. Adjacent to the asset is ALDI, Walmart and Sam’s Club. Other nearby national retailers include Gordon Food Service, Planet Fitness, JoAnn Fabrics, Best Buy, Hobby Lobby, Kohl’s, Target, Homegoods, Michaels, among many others. Alpine Crossings is an excellent opportunity to acquire a stabilized property in a core retail corridor north of Downtown Grand Rapids.

Exclusively Listed By

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