Versatile Flex Retail Industrial
For Sale
$199,900
981 S Getty Street, Muskegon, MI 49442
COMMERCIAL - Muskegon, MI
Property Size4,200 SF
Lot Size0.19 Acres
Price / SF$47.60
Days on Market148
Property Features for 981 S Getty Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Muskegon
Middle school district
Muskegon
High school district
Muskegon
Directions
Head south on US-31. Take the Apple Ave exit toward Muskegon. Turn right onto MI-46 W/Apple Ave and continue west for about 2.5 miles. Turn left onto S Getty St and continue for about 0.7 miles. Your destination will be on the left.
Standard status
Active
APN
24-205-061-0001-20
Size
4,200 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
In Agent Remarks
Tax Annual Amount
1034
Legal Description
In Agent Remarks
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1946
Number of units
3
Listing Agency:
Legacy Real Estate Partners
(616) 402-3595
Listed By:
Terry Puffer · License #6501424238
(231) 855-5001
Added: Apr 3
Changed: Aug 4
Last Checked: Aug 28 at 12:06AM
MLS# 26013397
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 versatile commercial building at 981 S Getty Street is currently vacant and ready for immediate use. The space features an open layout designed to support flexible configuration, along with a freshly painted exterior. Multiple garage access points are available, including a large front garage door to support straightforward loading and operations.
The property is located on S Getty Street in Muskegon, MI, in an area described as high-traffic and high-visibility. Electrical service is listed at 480 amps, and the property is identified with B4 and B2 zoning.
With its combination of open interior space and multiple garage entrances, the building is suited for a range of commercial uses consistent with its listed zoning.
The property is located on S Getty Street in Muskegon, MI, in an area described as high-traffic and high-visibility. Electrical service is listed at 480 amps, and the property is identified with B4 and B2 zoning.
With its combination of open interior space and multiple garage entrances, the building is suited for a range of commercial uses consistent with its listed zoning.
Key Highlights
- High‑traffic, high‑visibility location ideal for business growth
- Vacant and ready for immediate use
- Flexible, open layout for easy configuration
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
$18,132
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
9.07%
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%
$362,640
$362.6K
Cap Rate 7%
$259,029
$259.0K
Cap Rate 9%
$201,467
$201.5K
Market Conditions
NOI Build-Up for 4,200 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
$28.7K $6.84/SF
− Vacancy
−$833 −$0.20/SF
EGI
$27.9K $6.64/SF
− OpEx
−$9.8K −$2.32/SF
NOI
$18.1K $4.32/SF
Area
Muskegon County, MI
Vacancy
2.90%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
35.00%
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%
$362,640
Cap Rate 7%
$259,029
Cap Rate 9%
$201,467
Alternative Uses
Best Use
Industrial
$575.5K
$503.6K – $671.5K
NOI $40,287 @ 7.0% cap · market cap 20.15%
Second Best
Flex RnD
$259.0K
$226.7K – $302.2K
NOI $18,132 @ 7.0% cap · market cap 9.07%
Theoretical Best
Hotel Hospitality
$39.44M
$34.51M – $46.02M
NOI $2,760,964 @ 7.0% cap · market cap 1,381.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49442, MI
45,342
Population
17,759
Households
2.6
Avg Household Size
37
Median Age
11%
College-Educated
87%
High-School Grad
41.0 sq mi
ZIP Area
1,106
Density / Sq Mi
$50,069
Median Household Income
$33,257
Median Earnings
$889
Median Rent
$116,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Vacant flex/industrial building with an open layout, multiple garage access points, and 480-amp electrical service.
Where is this flex space located?
The property is located at 981 S Getty Street Muskegon, MI.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: High‑traffic, high‑visibility location ideal for business growth; Vacant and ready for immediate use; Flexible, open layout for easy configuration
