Updated Flex Space with Heated
For Sale
$189,900
Pending
2930 Heights Ravenna Road, Muskegon, MI 49444
Commercial Sale, Muskegon, MI
Property Size3,375 SF
Lot Size0.70 Acres
Days on Market305
Property Features for 2930 Heights Ravenna Road
General Information
Property type
Commercial Sale
Property subtype
Other
Interior features
Broadband
Elementary school district
Fruitport
Middle school district
Fruitport
High school district
Fruitport
Directions
From US 31. Take Exit 104 for Sherman Blvd. Merge onto E Sherman Blvd heading east. Stay on E Sherman Blvd for approximately 2 miles. Turn left onto Heights Ravenna Rd. Follow Heights Ravenna Rd for about 2.4 miles. Continue on Heights Ravenna Rd until you reach 2930 Heights Ravenna Rd
Subdivision
Muskegon County - M
Standard status
Pending
APN
15-320-000-0038-00
Size
3,375 SF
Lot size
0.70 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
FRUITPORT CHARTER TOWNSHIP SUPER PLAT OF DE FEYTERS SUB LOT 38 EXC W 20 FT AND E 15 FT THEREOF SEC 2 T9N R16W
Tax Annual Amount
1163
Legal Description
FRUITPORT CHARTER TOWNSHIP SUPER PLAT OF DE FEYTERS SUB LOT 38 EXC W 20 FT AND E 15 FT THEREOF SEC 2 T9N R16W
Utilities
Utilities
Electricity Available
Heating system
Forced Air
Amenities
Wi-Fi access
Building Details
Year built
1984
Floors in Building
1
Number of units
1
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
RE/MAX Lakeshore · RE/MAX International
(616) 935-1150
Listed By:
Sandi L Gentry · License #6506045021
(616) 638-3900
Added: Oct 29, 2025
Changed: Aug 28
Last Checked: Aug 29 at 7:06PM
MLS# 25055533
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 updated flex property contains 3,375 square feet on a 0.7-acre parcel. The facility includes heated storage areas, broadband access, 7' x 6' steel roll-up doors, and a utility room with furnace and electrical service. Forced-air heating supports temperature control, while metal siding and a metal roof contribute to the building’s functional design. Constructed in 1984, the property also has electricity available.
The facility is located at 2930 Heights Ravenna Road in Muskegon, along the corridor between Muskegon and Coopersville. The site offers access to surrounding communities and major routes. Interior walls and doors may be removed to create a more open configuration, subject to negotiation and inclusion in the purchase agreement.
The facility is located at 2930 Heights Ravenna Road in Muskegon, along the corridor between Muskegon and Coopersville. The site offers access to surrounding communities and major routes. Interior walls and doors may be removed to create a more open configuration, subject to negotiation and inclusion in the purchase agreement.
Key Highlights
- 3,375‑square‑foot flex facility on 0.7 acres
- Heated storage areas with broadband access
- 7' x 6' steel roll‑up doors
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
$14,570
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
7.67%
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%
$291,400
$291.4K
Cap Rate 7%
$208,143
$208.1K
Cap Rate 9%
$161,889
$161.9K
Market Conditions
NOI Build-Up for 3,375 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
$23.1K $6.84/SF
− Vacancy
−$669 −$0.20/SF
EGI
$22.4K $6.64/SF
− OpEx
−$7.8K −$2.32/SF
NOI
$14.6K $4.32/SF
Area
Muskegon County, MI
Vacancy
2.90%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
35.00%
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%
$291,400
Cap Rate 7%
$208,143
Cap Rate 9%
$161,889
Alternative Uses
Best Use
Warehouse
$561.6K
$491.4K – $655.2K
NOI $39,311 @ 7.0% cap · market cap 20.70%
Second Best
Self Storage
$466.4K
$408.1K – $544.2K
NOI $32,650 @ 7.0% cap · market cap 17.19%
Theoretical Best
Hotel Hospitality
$31.69M
$27.73M – $36.98M
NOI $2,218,632 @ 7.0% cap · market cap 1,168.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49444, MI
26,281
Population
11,635
Households
2.3
Avg Household Size
38
Median Age
18%
College-Educated
91%
High-School Grad
24.7 sq mi
ZIP Area
1,064
Density / Sq Mi
$52,143
Median Household Income
$34,423
Median Earnings
$941
Median Rent
$159,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Gawlik's Catering — 3426 Scotch Pine Dr, Muskegon, MI 49444
Frequently Asked Questions
What type of property is this?
Flex space - Heated storage facility includes broadband access, steel roll-up doors, and forced-air heating.
Where is this flex space located?
The property is located at 2930 Heights Ravenna Road Muskegon, MI.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: 3,375‑square‑foot flex facility on 0.7 acres; Heated storage areas with broadband access; 7' x 6' steel roll‑up doors
