Automotive Body
For Sale
$234,900
851 W Mcmillan Road, Muskegon, MI 49445
COMMERCIAL - Muskegon, MI
Property Size1,792 SF
Lot Size1.18 Acres
Price / SF$131.08
Days on Market335
Property Features for 851 W Mcmillan Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Interior features
Broadband
Elementary school district
Reeths-Puffer
Middle school district
Reeths-Puffer
High school district
Reeths-Puffer
Directions
31/Whitehall rd to W McMillan
Subdivision
Muskegon County - M
Standard status
Active
APN
07-031-200-0002-00
Size
1,792 SF
Lot size
1.18 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
DALTON TOWNSHIP D-0497J SEC 31 T11N R16W N 256 FT OF E 100 FT OF NW 1/4 OF NE 1/4 OF NW 1/4 OF NE 1/4 EXC N 33 FT FOR..
Tax Annual Amount
1766
Legal Description
DALTON TOWNSHIP D-0497J SEC 31 T11N R16W N 256 FT OF E 100 FT OF NW 1/4 OF NE 1/4 OF NW 1/4 OF NE 1/4 EXC N 33 FT FOR..
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air, Space Heater
Amenities
paint room
Building Details
Number of units
1
Building materials
Aluminum Siding
Roof type
Rubber
Listing Agency:
Aldyn Breeze Realty LLC
(231) 343-0404
Listed By:
Lynda Lear Balkema · License #6502414997
(231) 327-8480
Added: Sep 9, 2025
Changed: Aug 5
Last Checked: Aug 9 at 11:06PM
MLS# 25046331
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 1,792-square-foot automotive body shop occupies a 1.18-acre parcel and includes a large paint room, storage areas, and a fenced rear storage enclosure. The building has aluminum siding, a rubber roof, forced-air heating, and a space heater. The roof was freshly sealed two years ago, and the heater is two years old.
Included equipment encompasses a Black Hawk Power Pad System with clamps and chains, two power posts, a drill press with grinder, air grinders, buffers, sandblasting equipment, floor jacks, a Uni-Spotter, a Miller Matic 200, torches, and other shop tools. A large rolling tool chest is negotiable. Natural gas is available, and broadband service is listed for the property.
Included equipment encompasses a Black Hawk Power Pad System with clamps and chains, two power posts, a drill press with grinder, air grinders, buffers, sandblasting equipment, floor jacks, a Uni-Spotter, a Miller Matic 200, torches, and other shop tools. A large rolling tool chest is negotiable. Natural gas is available, and broadband service is listed for the property.
Key Highlights
- 1,792 SF automotive body shop on 1.18 acres
- Large fenced rear storage area
- Paint room and additional storage within the building
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
$17,189
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
7.32%
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%
$343,780
$343.8K
Cap Rate 7%
$245,557
$245.6K
Cap Rate 9%
$190,989
$191.0K
Market Conditions
NOI Build-Up for 1,792 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
$25.2K $14.04/SF
− Vacancy
−$604 −$0.34/SF
EGI
$24.6K $13.70/SF
− OpEx
−$7.4K −$4.11/SF
NOI
$17.2K $9.59/SF
Area
Muskegon County, MI
Vacancy
2.40%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
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%
$343,780
Cap Rate 7%
$245,557
Cap Rate 9%
$190,989
Alternative Uses
Best Use
Retail
$330.9K
$289.6K – $386.1K
NOI $23,165 @ 7.0% cap · market cap 9.86%
Second Best
Industrial
$245.6K
$214.9K – $286.5K
NOI $17,189 @ 7.0% cap · market cap 7.32%
Theoretical Best
Hotel Hospitality
$16.83M
$14.73M – $19.63M
NOI $1,178,011 @ 7.0% cap · market cap 501.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49445, MI
21,245
Population
9,109
Households
2.3
Avg Household Size
43
Median Age
29%
College-Educated
96%
High-School Grad
61.1 sq mi
ZIP Area
348
Density / Sq Mi
$80,514
Median Household Income
$45,874
Median Earnings
$1,163
Median Rent
$209,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- C & T Auto & Repair — 2915 Whitehall Rd, Muskegon, MI 49445
- Riverside Automotive — 2505 Whitehall Rd, Muskegon, MI 49445
- DAN AUTO SERVICE INC — 2915 Whitehall Rd, Muskegon, MI 49445
- Lundholm Garage — 2950 Whitehall Rd, Muskegon, MI 49445
- Woodring Automotive Repair — 2836 Whitehall Rd, Muskegon, MI 49445
Frequently Asked Questions
What type of property is this?
Auto shop - Established body shop with a fenced storage area, paint room, equipment, and substantial on-site storage.
Where is this auto shop located?
The property is located at 851 W Mcmillan Road Muskegon, MI.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: 1,792 SF automotive body shop on 1.18 acres; Large fenced rear storage area; Paint room and additional storage within the building
