380 W Western Avenue Muskegon, MI 49440
COMMERCIAL - Muskegon, MI
Property Features for 380 W Western Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bathroom 1
- Standard status
- Active
- APN
- 24-432-000-0001-00
- Size
- 2,335 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Year
- 2022
- Tax Description
- CITY OF MUSKEGON HINES BUILDING CONDOMINIUM UNIT 1 SBJT TO ESMNT FOR OVERHEAD/UNDERGROUND ELECTRIC LNS RECOR'D 3724/
- Tax Annual Amount
- 8033
Utilities
- Utilities
- Cable Available
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 2008
- Floors in Building
- 1
- Number of units
- 1
- Building materials
- Brick, Stone
Listing agent David Ten Cate License #6502325769 (616) 847-1031
Listing office Capstone Real Estate LLC PO Box 261, Grand Haven, MI (616) 847-1031
Listing date Jul 31, 2023
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Investment Insights
Based on property information with market context.
The suite is in the heart of downtown Muskegon and is described as walkable to restaurants, shopping, and waterfront activities, supporting client-accessible operations.
The offering is a 2,335-square-foot professional suite designed for a workplace layout that balances collaborative open space with dedicated private offices and a conference room.
Key Highlights
- Prime downtown Muskegon location in the Hines Building (Chamber of Commerce Building).
- 2,335 SF professional suite features an open floor plan, high ceilings, and large windows.
- Includes five private offices, a conference room, reception area, and kitchen.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.8k | $17.04 |
| − Vacancy | −$5.5k | −$2.35 |
| EGI | $34.3k | $14.69 |
| − OpEx | −$8.6k | −$3.67 |
| NOI | $25.7k | $11.02 |
