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    Retail Space on Harvey Street Title is generated by Realmo AI

    1664 E Sternberg Road, Muskegon, MI 49444

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    Claim this Listing
    For Lease
    $16 SF/Yr $3,393/Mo (calc)

    COMMERCIAL - Muskegon, MI

    Type:Retail
    Property size:
    2,545 SF
    Lot size:
    1.43 Acres
    Added:
    Apr 7, 2025
    Days on Market:
    411
    Last Refresh:
    May 22 at 4:06 am

    Property Features for 1664 E Sternberg Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Fireplace
    1
    Standard status
    Active
    APN
    15-122-100-0009-30
    Size
    2,545 SF
    Lot size
    1.43 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    FRUITPORT CHARTER TOWNSHIP SEC 22 T9N R16W PART OF SW 1/4 OF NW 1/4 OF SD SEC DESC AS FOLLOWS: COMM AT W 1/4 COR OF SD SEC TH S 88D 28M 13S E 300 FT FOR POB: TH N 1D 50M 06S E 300 FT TH S 88D 28M 13S E 250 FT TH S 01D 50M 06S W 300 FT TH N 88D 28M 13 S W 250 FT TO POB S 50 FT FOR RD PURPOSES 1.72 AC INC RD ROW 1.43 AC EXC RD ROW SUBJ TO PUD DEV AGREEMENT FOR STERNBERG CENTER SUBJ TO NUMEROUS AGREE

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    2001
    Building materials
    Brick, Metal Siding, Stone
    Roof type
    Rubber

    We can help!

    Listing Contact
    Bryan D Bench
    Bryan D Bench

    Listing agent Bryan D Bench License #6501293444

    Listing office Core Realty Partners LLC 700 Terrace Point Dr, Muskegon, MI

    Listing date Apr 7, 2025

    MLS# 25013881

    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.

    HighLights

    • Premier retail location on high‑traffic Harvey Street commercial corridor.
    • Located near the busy Harvey‑Sternberg intersection in Muskegon County.
    • 4,800 SF space available, formerly Meyer Music.
    • Space is in ''gray‑box'' condition, allowing for customized design.
    • Divisible into two 2,400 +/- SF retail units.
    • Neighboring national retailers include McDonald's, Meijer, Aldi, and more.

    Overview

    This retail space is located within the high-traffic Harvey Street commercial corridor in Norton Shores, situated just east of the Harvey-Sternberg intersection, one of the busiest in Muskegon County. The available space is approximately 4,800 square feet, formerly occupied by Meyer Music. Currently in a "gray-box" state, the space can be designed to fit specific requirements. Alternatively, the space could be divided into two retail units of approximately 2,400 square feet each. The property is located on a 1.43-acre lot. Neighboring properties include McDonald's, Crumbl Cookies, Meijer, Aldi, Qdoba, and Verizon, among other national retailers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Dental Office Hair Salon Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Muskegon
    County
    Muskegon
    State
    Michigan
    Longitude
    -86.2042101
    Latitude
    43.1545996

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    FAQs

    What type of property is this?
    Retail space - High-traffic retail location in Norton Shores, Muskegon.
    Where is this retail space located?
    The property is located at 1664 E Sternberg Road Muskegon, MI.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Premier retail location on high‑traffic Harvey Street commercial corridor.; Located near the busy Harvey‑Sternberg intersection in Muskegon County.; 4,800 SF space available, formerly Meyer Music.
    (231) 578-2508
    We can help!
    Listing Contact
    Bryan D Bench
    Bryan D Bench
    Real Estate License ID: 6501293444
    Learn More
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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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