Office Units with Salon
For Sale
$169,900
1258 E Apple Avenue, Muskegon, MI 49442
Commercial Sale, Muskegon, MI
Property Size1,276 SF
Lot Size0.14 Acres
Price / SF$133.15
Days on Market534
Property Features for 1258 E Apple Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
B-2
Bathrooms
1
Full bathrooms
1
Rooms
Basement, Bathroom 1
Interior features
Broadband
Elementary school district
Muskegon
Middle school district
Muskegon
High school district
Muskegon
Directions
Apple Ave to corner of Apple and Plymouth Streets
Subdivision
Muskegon County - M
Standard status
Active
APN
24-850-001-0006-00
Size
1,276 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Lengthy-see attached.
Tax Annual Amount
2661
Legal Description
Lengthy-see attached.
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Window Unit(s)
Amenities
handicap-accessible ramp
gas furnace
window AC units
basement
Building Details
Year built
1940
Floors in Building
1
Number of units
1
Building materials
Wood Siding
Roof type
Metal
Listing Agency:
Core Realty Partners LLC
(231) 375-5273
Listed By:
Thomas Joseph Sanocki · License #6502387245
(231) 375-5271
Added: Mar 31, 2025
Changed: Sep 7
Last Checked: Sep 15 at 6:06AM
MLS# 25012559
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,276-square-foot commercial building at 1258 E Apple Avenue includes two distinct operating areas: a hair salon and an office-gallery space. The second floor is currently used for storage and may be converted to residential space with City of Muskegon approval. A clean basement provides additional storage, while the building includes a bathroom, broadband access, a gas furnace, and two window AC units.
Built in 1940, the property has wood siding, a metal roof installed in December 2024, and a recently painted exterior. A handicap-accessible ramp serves the building, and cable is available. The property sits on a 0.14-acre lot in Muskegon, Michigan, and is zoned commercial.
Built in 1940, the property has wood siding, a metal roof installed in December 2024, and a recently painted exterior. A handicap-accessible ramp serves the building, and cable is available. The property sits on a 0.14-acre lot in Muskegon, Michigan, and is zoned commercial.
Key Highlights
- 1,276‑square‑foot commercial building on a 0.14‑acre lot
- Hair salon and office‑gallery areas occupy separate portions of the building
- Second floor currently used for storage may convert to residential space with City of Muskegon approval
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,057
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$281,140
$281.1K
Cap Rate 7%
$200,814
$200.8K
Cap Rate 9%
$156,189
$156.2K
Market Conditions
NOI Build-Up for 1,276 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$21.7K $17.04/SF
− Vacancy
−$3.0K −$2.35/SF
EGI
$18.7K $14.69/SF
− OpEx
−$4.7K −$3.67/SF
NOI
$14.1K $11.02/SF
Area
Muskegon County, MI
Vacancy
13.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$281,140
Cap Rate 7%
$200,814
Cap Rate 9%
$156,189
Alternative Uses
Best Use
Retail
$235.6K
$206.2K – $274.9K
NOI $16,495 @ 7.0% cap · market cap 9.71%
Second Best
Office B
$200.8K
$175.7K – $234.3K
NOI $14,057 @ 7.0% cap · market cap 8.27%
Theoretical Best
Hotel Hospitality
$11.98M
$10.49M – $13.98M
NOI $838,807 @ 7.0% cap · market cap 493.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Explore this area
Business Placement
Demographics for 49442, MI
45,342
Population
17,759
Households
2.6
Avg Household Size
37
Median Age
11%
College-Educated
87%
High-School Grad
41.0 sq mi
ZIP Area
1,106
Density / Sq Mi
$50,069
Median Household Income
$33,257
Median Earnings
$889
Median Rent
$116,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - Commercial building with a hair salon, office-gallery area, storage basement, and potential second-floor residential conversion subject to city approval.
Where is this office units located?
The property is located at 1258 E Apple Avenue Muskegon, MI.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: 1,276‑square‑foot commercial building on a 0.14‑acre lot; Hair salon and office‑gallery areas occupy separate portions of the building; Second floor currently used for storage may convert to residential space with City of Muskegon approval
