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
- 4
- Rooms
- Bathroom 3, Bathroom 2, Bathroom 4, Bathroom 1
- Interior features
- Broadband
- Standard status
- Active
- APN
- 24-432-000-0002-00
- Size
- 6,379 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Year
- 2022
- Tax Description
- CITY OF MUSKEGON HINES BUILDING CONDOMINIUM UNIT 2 SBJT TO ESMNT FOR OVERHEAD/UNDERGROUND ELECTRIC LNS RECOR'D 3724/
- Tax Annual Amount
- 21718
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.
Situated in downtown Muskegon as a corner location, the unit offers convenient client access and visibility, with walkability to restaurants, shopping, and waterfront activities.
This offering presents a turnkey, professionally configured space with dedicated areas for both office and retail use within the same condominium unit.
Key Highlights
- Main‑floor downtown Muskegon commercial/office condo in the Hines Building/Chamber of Commerce Building
- Unit 2 totals 6,379 SF with one commercial office suite plus one retail suite
- Retail suite is occupied by Subway and includes approximately 2,480 SF
Local Financial Insights For Retail
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 | $120.9k | $18.96 |
| − Vacancy | −$3.1k | −$0.49 |
| EGI | $117.8k | $18.47 |
| − OpEx | −$35.3k | −$5.54 |
| NOI | $82.5k | $12.93 |
