Flex Space with
For Sale
$225,000
1054 W Sherman, Muskegon, MI 49441
Insulated flex space includes a private bathroom, automatic overhead-door access, and a mezzanine.
Property Size1,800 SF
Price / SF$125
Days on Market584
Property Features for 1054 W Sherman
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Commercial/Industrial
Warehouse & Industrial
Mezzanine
360 SF
Drive-In Doors
1
Building Details
Year Built
2025
Listed By:
J.A. BACHLER
(810) 765-8895
Source:
Jabachler
Added: Mar 26, 2025
Changed: Oct 27
Last Checked: Oct 27 at 3:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of J.A. BACHLER
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2025 flex unit at 1054 W Sherman in Muskegon measures 1,800 square feet, with a 24' x 60' footprint and a 15' x 24' mezzanine. Ceiling height reaches 21 feet, with 10'6'' of clearance beneath the mezzanine. A 16' x 16' overhead door has an automatic opener, and the unit also includes a private bathroom.
Closed-cell spray foam insulation, a 100,000 BTU furnace, a 10-gallon electric water heater, LED lighting, and an industrial ceiling fan are installed. The mezzanine adds a separate elevated area within the unit.
Closed-cell spray foam insulation, a 100,000 BTU furnace, a 10-gallon electric water heater, LED lighting, and an industrial ceiling fan are installed. The mezzanine adds a separate elevated area within the unit.
Key Highlights
- 1,800‑square‑foot unit with a 24' x 60' layout
- 15' x 24' mezzanine
- 21' ceilings and 10'6'' clearance below the mezzanine
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,266
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$345,320
$345.3K
Cap Rate 7%
$246,657
$246.7K
Cap Rate 9%
$191,844
$191.8K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$25.3K $14.04/SF
− Vacancy
−$607 −$0.34/SF
EGI
$24.7K $13.70/SF
− OpEx
−$7.4K −$4.11/SF
NOI
$17.3K $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 Rate 5%
$345,320
Cap Rate 7%
$246,657
Cap Rate 9%
$191,844
Alternative Uses
Best Use
Warehouse
$299.5K
$262.1K – $349.4K
NOI $20,966 @ 7.0% cap · market cap 9.32%
Second Best
Industrial
$246.7K
$215.8K – $287.8K
NOI $17,266 @ 7.0% cap · market cap 7.67%
Theoretical Best
Hotel Hospitality
$16.90M
$14.79M – $19.72M
NOI $1,183,270 @ 7.0% cap · market cap 525.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49441, MI
36,886
Population
16,491
Households
2.2
Avg Household Size
43
Median Age
28%
College-Educated
94%
High-School Grad
21.7 sq mi
ZIP Area
1,700
Density / Sq Mi
$65,235
Median Household Income
$38,132
Median Earnings
$1,080
Median Rent
$194,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Insulated flex space includes a private bathroom, automatic overhead-door access, and a mezzanine.
Where is this flex space located?
The property is located at 1054 W Sherman Muskegon, MI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,800‑square‑foot unit with a 24' x 60' layout; 15' x 24' mezzanine; 21' ceilings and 10'6'' clearance below the mezzanine
