Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    318 Houston Ave Muskegon, MI 49441

    Sponsored
    For Sale
    $825,000

    COMMERCIAL - Muskegon, MI

    Type:Office
    Property size:
    8,950 SF
    Lot size:
    0.20 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 3 at 10:06 pm

    Property Features for 318 Houston Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    Rooms
    Bathroom 6, Bathroom 2, Bathroom 5, Bathroom 4, Basement, Bathroom 1, Bathroom 3
    Bathrooms
    6
    APN
    24-205-349-0012-00
    Parking
    24
    Size
    8,950 SF
    Lot size
    0.20 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Heat Pump (Heating), Forced Air, Ductless (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1889
    Floors in Building
    4
    Number of units
    11
    Building materials
    Wood Siding
    Roof type
    Rubber, Composition

    We can help!

    Listing Contact
    David Medendorp
    David Medendorp

    Medendorp Real Estate Group (231) 777-7355

    Listing agent David Medendorp (231) 206-3367

    Listing date Feb 3, 2026

    MLS# 25026979

    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.

    Learn more

    Property Insight Report

    Overview

    Historic Queen Anne Victorian Office

    The historic Hovey House, a restored 1889 Queen Anne Victorian, is located one block from Muskegon Avenue and a short walk to Muskegon Lake and downtown attractions. Built by Horatio Hovey, co-founder of the Hovey & McCracken lumber company and President of Muskegon Savings Bank, this home reflects the craftsmanship and prosperity of Muskegon's lumber era. Hovey's influence helped shape the city's growth, and his residence stands as a tribute to Muskegon's past and future. Designated as a Michigan Historic Site, the property has been meticulously restored with attention to detail, showcasing original pocket doors, intricate trim work, and the charm of Victorian architecture. Zoned B-1, the building offers flexible use for professional office space, residential living, or investment purposes. The property is currently used as a combination of professional office space and a private apartment. In the past, it has also served as a single-family home and a restaurant. The main floor features shared office and conference room space, while the lower level includes a full kitchen and two bathrooms with a private rear entrance. The third floor offers a 2-bedroom, 1-bath apartment with in-unit laundry. The property has income potential and 24 private parking spaces. The property size is 8,950 square feet and the lot size is 0.2 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store 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
    -86.251667
    Latitude
    43.231491

    Nearby Similar for Sale

    • $575,000
      0.60 Acres

      Muskegon Multifamily Investment Portfolio

      Five-property portfolio in Muskegon with strong rental history and updated utilities.
      827 W Larch Ave, Muskegon, MI 49441
      View Details
    • $825,000
      0.20 Acres

      Historic Queen Anne Victorian Mansion

      Restored 1889 mansion near downtown Muskegon with income potential.
      318 Houston Ave, Muskegon, MI 49441
      View Details
    • $229,900
      0.17 Acres

      Updated Multifamily Home in Muskegon

      Multifamily home with updates, ideal for investors or owner-occupants.
      1514 6Th St, Muskegon, MI 49441
      View Details
    • $599,000
      16,488 SF

      Versatile Commercial Building in Muskegon

      16,488 SF commercial building suitable for retail, events, or warehousing.
      3367 Hoyt St, Muskegon, MI 49444
      View Details
    • $309,900
      1,760 SF

      Renovated Retail Building Near Lake Michigan

      Recently renovated commercial property with potential for various business uses.
      3470 Memorial Dr, Muskegon, MI 49445
      View Details
    • $1,495,000
      39,204 SF

      Historic Downtown Muskegon Commercial Building

      Rare 39,204 SF historic building in revitalized downtown Muskegon.
      521 W Western Ave, Muskegon, MI 49440
      View Details
    • $1,400,000
      Pending

      Historic Landmark Building in Downtown

      Restored commercial property in the heart of Muskegon.
      360 W Western Ave, Muskegon, MI 49440
      View Details
    • $1,299,000
      Pending

      Historic Landmark Building in Downtown Muskegon

      Restored Victorian building ideal for investment or owner-user opportunity.
      356 W Western Ave, Muskegon, MI 49440
      View Details
    • $169,900
      0.08 Acres

      Downtown Muskegon Duplex Opportunity

      Two-unit apartment building near downtown Muskegon with income potential.
      299 Mason Ave, Muskegon, MI 49441
      View Details
    • $264,900
      5,016 SF

      Muskegon Commercial Building For Sale

      5,016 sq ft commercial building in Muskegon Township.
      1099 Gordon St, Muskegon, MI 49442
      View Details
    • $149,900
      Pending

      Muskegon Multifamily Investment Opportunity

      Income-producing duplex in active Muskegon location near amenities.
      1580 8Th St, Muskegon, MI 49441
      View Details
    • $199,900
      0.15 Acres

      Updated Multi-Unit Home, Muskegon, MI

      Well-maintained multi-unit home with modern updates, ideal for investors.
      1157 W Dale Ave, Muskegon, MI 49441
      View Details

    FAQs

    What type of property is this?
    Office building - Restored 1889 Queen Anne Victorian with flexible use.
    Where is this office building located?
    The property is located at 318 Houston Ave Muskegon, MI.
    What is the asking price?
    The asking price for this property is $825,000.
    What are key features of this property?
    This property features: - High income potential exceeding $100,000 annually.; - Flexible B-1 zoning allows for professional office, residential, or investment use.; - **Meticulously restored 1889 Queen Anne Victorian with original features and timeless charm.**
    (231) 206-3367
    Request Owner's contact information
    318 Houston Ave Muskegon, MI 49441
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    318 Houston Ave
    Muskegon, MI 49441
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    318 Houston Ave Muskegon, MI 49441
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    David Medendorp
    David Medendorp
    Real Estate License ID: 6502399695
    (231) 206-3367
    Learn more
    Google sign-in failed. Please try again or use another login method.