Add Listing
    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

    380 W Western Avenue unit -Unit #1 Muskegon, MI 49440

    View on Map
    For Sale
    $415,000

    COMMERCIAL - Muskegon, MI

    Type:Office
    Property size:
    2,335 SF
    Lot size:
    0.08 Acres
    Added:
    Jul 31, 2023
    Days on Market:
    976
    Last Refresh:
    Apr 1 at 3:06 pm

    Property Features for 380 W Western Avenue unit -Unit #1

    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

    TaxYear
    2022
    TaxDescription
    CITY OF MUSKEGON HINES BUILDING CONDOMINIUM UNIT 1 SBJT TO ESMNT FOR OVERHEAD/UNDERGROUND ELECTRIC LNS RECOR'D 3724/
    TaxAnnualAmount
    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

    We can help!

    Listing Contact
    David Ten Cate

    Listing agent David Ten Cate License #6502325769

    Listing office Capstone Real Estate LLC PO Box 261, Grand Haven, MI

    Listing date Jul 31, 2023

    MLS# 23027569

    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.

    Overview

    Downtown Muskegon Office Condominium

    Located in the Hines Building (Chamber of Commerce Building) in the heart of downtown Muskegon, this commercial/office condominium offers 2,335 square feet of professional space. The suite features an open floor plan with high ceilings and large windows, providing excellent visibility. It includes five private offices, two centrally-located workstations, a conference room, a reception area, a kitchen, and two ADA restrooms. This professional setting is conveniently walkable to restaurants, shopping, and waterfront activities, making it ideal for client access. The property occupies a 0.08-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Muskegon
    County
    Muskegon
    State
    Michigan
    Longitude
    -86.2532
    Latitude
    43.2355

    Nearby Similar for Sale

    • $369,900
      3,868 SF

      Muskegon Commercial Building For Sale

      3868 SF commercial building, rezoned for many uses.
      1787 Wagner Avenue, Muskegon, MI 49442
      View Details
    • $165,000
      5,120 SF

      Versatile Commercial Building on Apple Avenue

      Adaptable commercial building suitable for various business uses.
      3639 E Apple Avenue, Muskegon, MI 49442
      View Details
    • $350,000
      8,967 SF

      Muskegon Office Building For Sale

      8,967 SF stand-alone building, recently renovated, suitable for office use.
      721 W Laketon Avenue unit: Office, Muskegon, MI 49441
      View Details
    • $1,350,000
      6,522 SF

      Muskegon Commercial Investment Opportunity

      Downtown Muskegon property with new improvements, suitable for restaurant/bar.
      1208 8th Street, Muskegon, MI 49440
      View Details
    • $225,000
      3,168 SF

      Operating Car Wash Investment Opportunity

      Fully operational 6-bay self-service car wash for sale.
      1671 E River Road, Muskegon, MI 49445
      View Details
    • $1,299,000
      14,985 SF

      Historic Landmark Building in Downtown Muskegon

      Restored Victorian building ideal for investment or owner-user opportunity.
      356 W Western Avenue, Muskegon, MI 49440
      View Details
    • $269,900
      1,248 SF

      Retail Property on Laketon Avenue

      High-visibility retail property primed for a beer and wine store.
      793 W Laketon Avenue, Muskegon, MI 49441
      View Details
    • $284,900
      2,418 SF

      Commercial Property on Apple Avenue

      High-visibility commercial property with ample parking and road frontage.
      2256 E Apple Avenue, Muskegon, MI 49442
      View Details
    • $375,000
      4,320 SF

      Muskegon Commercial Building on Whitehall

      Well-maintained commercial building on high-traffic road, ideal for business.
      2865 Whitehall Road, Muskegon, MI 49445
      View Details
    • $140,000
      1,152 SF

      Muskegon Commercial Property For Sale

      Commercial property with equipment included, potential for various food businesses.
      2106 S Getty Street, Muskegon, MI 49444
      View Details
    • $174,900
      6,027 SF

      Turnkey Office Building in Muskegon

      6,027 SF office building with furniture and ample parking.
      1170 W Southern Avenue, Muskegon, MI 49441
      View Details
    • $199,900
      3,375 SF

      Muskegon Commercial Storage Facility

      Updated 3,375 sq ft facility with 13 heated storage units.
      2930 Heights Ravenna Road, Muskegon, MI 49444
      View Details

    FAQs

    What type of property is this?
    Office units - Main-floor office condo in downtown Muskegon with open floor plan.
    Where is this office units located?
    The property is located at 380 W Western Avenue unit -Unit #1 Muskegon, MI.
    What is the asking price?
    The asking price for this property is $415,000.
    What are key features of this property?
    This property features: 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.
    (616) 847-1031
    We can help!
    Listing Contact
    David Ten Cate
    Real Estate License ID: 6502325769
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!