Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    957-983 E Broadway Ave Norton Shores, MI 49444

    View on Map
    Claim this Listing
    For Sale
    $85,000

    COMMERCIAL - Norton Shores, MI

    Added:
    Dec 4, 2024
    Days on Market:
    520
    Last Refresh:
    May 8 at 3:06 pm

    Property Features for 957-983 E Broadway Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    27700004000100

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    1333

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    David Medendorp
    David Medendorp

    Listing agent David Medendorp License #6502399695

    Listing office Medendorp Real Estate Group 493 W Norton Ave, Ste C, Muskegon, MI

    Listing date Dec 4, 2024

    MLS# 24061741 Listing URL

    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.

    HighLights

    • Prime vacant land in a high‑traffic location near Getty Street and the new Trinity Health facility.
    • Zoned C‑2 General Retail District, allowing for a wide range of business uses.
    • Frontage on three streets provides excellent accessibility and visibility.
    • Recently repaved Broadway with new sidewalks offers a modern and inviting infrastructure.
    • Ample space for parking, storage, and outdoor vehicle enclosures.
    • Public water and sewer available; natural gas available.

    Overview

    Norton Shores Vacant Commercial Land

    This vacant land is located in Norton Shores, Michigan, just two blocks east of Getty Street and minutes from the new Trinity Health facility on Sherman. The property benefits from recent infrastructure improvements, as Broadway was repaved three years ago and features new sidewalks. The site offers frontage on three streets, enhancing accessibility and visibility. It is zoned C-2 General Retail District, which is designed for businesses catering to the general public on a larger scale. Permitted uses include retail, food and beverage establishments, motels, and contract-based home services. The zoning also allows for ample space for parking, storage, and outdoor vehicle enclosures, making it suitable for businesses requiring both retail and operational functionality. The parcel numbers are 27700004000100, 27700004000400, and 27700004000700.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Norton Shores
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.1901
    Latitude
    43.1832

    Nearby Similar for Sale

    • $479,900
      2,854 SF

      Norton Shores Office Property For Sale

      2.13 acre office property in prime Norton Shores location.
      4631 S Harvey Street, Norton Shores, MI 49444
      View Details
    • $1,300,000
      12,000 SF

      Retail Space in Norton Shores

      Prime retail location in a high-traffic shopping corridor.
      1476 E Ellis Road, Norton Shores, MI 49444
      View Details
    • $99,900
      632 SF

      Norton Shores Commercial Office Space

      Turn-key office space near Trinity Hospital and US 31.
      922 E Broadway Avenue, Norton Shores, MI 49444
      View Details
    • $371,000
      3,175 SF

      Established Restaurant in Norton Shores

      Well-established restaurant for sale in Norton Shores, Michigan.
      1971 W Sherman Boulevard, Norton Shores, MI 49441
      View Details
    • $69,000

      Norton Shores Commercial Land Parcel

      Vacant commercial land parcel suitable for various business uses.
      1263 E Broadway Avenue, Norton Shores, MI 49444
      View Details
    • $379,900

      Norton Shores Cleared Land Parcel

      2+ acre commercial land parcel ready for development in Norton Shores.
      4685 S Harvey Street, Norton Shores, MI 49444
      View Details
    • $200,000

      Commercial Land on Henry Street

      Highly visible commercial parcel in Norton Shores, Michigan.
      2906 Henry Street, Norton Shores, MI 49441
      View Details
    • $399,900
      2,184 SF

      Norton Shores Restaurant Opportunity

      Established drive-in restaurant with high traffic location in Norton Shores.
      4221 Grand Haven Road, Norton Shores, MI 49441
      View Details
    • $1,750,000
      15,099 SF

      Industrial Building Near Muskegon Airport

      15,000 SqFt industrial building near major highways and airport.
      851 E Porter Road, Norton Shores, MI 49441
      View Details
    • $179,000

      Lake Michigan Association Beach Access Land

      Buildable parcel near Lake Michigan with association beach access.
      5043 MARANATHA DRIVE, NORTON SHORES, MI 49441
      View Details
    • $525,000

      Norton Shores Commercial Land Available

      5.75 acres of retail/commercial land in Norton Shores, Michigan.
      6561 Grand Haven Road, Norton Shores, MI 49441
      View Details
    • $159,000

      Norton Shores Commercial Parcel For Sale

      2.12-acre commercial parcel in a developing high-traffic corridor.
      1061 E Pontaluna Road, Norton Shores, MI 49456
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime commercial land opportunity in Norton Shores, Michigan.
    Where is this commercial land located?
    The property is located at 957-983 E Broadway Ave Norton Shores, MI.
    What is the asking price?
    The asking price for this property is $85,000.
    What are key features of this property?
    This property features: Prime vacant land in a high‑traffic location near Getty Street and the new Trinity Health facility.; Zoned C‑2 General Retail District, allowing for a wide range of business uses.; **Frontage on three streets provides excellent accessibility and visibility.**
    (231) 206-3367
    We can help!
    Listing Contact
    David Medendorp
    David Medendorp
    Real Estate License ID: 6502399695
    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

    Thank You for Inquiry
    957-983 E Broadway Ave, Norton Shores, MI 49444
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!