Industrial Flex Unit with Overhead
For Sale
$210,000
1054 W Sherman Boulevard Unit 201, Muskegon, MI 49441
Insulated commercial unit with private bath, dedicated utilities, and a large automatic overhead door.
Property Size1,440 SF
Price / SF$145.83
Days on Market92
Property Features for 1054 W Sherman Boulevard Unit 201
General Information
Standard status
Active
Size
1,440 SF
Warehouse & Industrial
Clear Height
21 ft
Power
100 amps
Building Details
Year Built
2025
Listing Agency:
Greenridge - Nexes
Listed By:
Brock Edward Carlston, William E Carlston · License #6501370180
(231) 578-0556
Source:
Katie-k
Added: Jul 20
Changed: Oct 11
Last Checked: Oct 7 at 3:25PM
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 Greenridge - Nexes
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Investment Insights
Based on property information with market context.
This 1,440-square-foot flex unit combines industrial functionality with finished building systems suited to work, storage, or small-business operations. The space has 21-foot ceilings, a 16-foot by 16-foot overhead door with automatic opener, private bathroom, floor drains, LED lighting, and an industrial ceiling fan.
Closed-cell spray-foam insulation supports an enclosed, efficient workspace. Building systems include a 100,000 BTU furnace, 10-gallon electric water heater, individually metered gas and electric service, and 100-amp electrical service per unit. The property is located at 1054 W Sherman Boulevard in Muskegon, Michigan.
Closed-cell spray-foam insulation supports an enclosed, efficient workspace. Building systems include a 100,000 BTU furnace, 10-gallon electric water heater, individually metered gas and electric service, and 100-amp electrical service per unit. The property is located at 1054 W Sherman Boulevard in Muskegon, Michigan.
Key Highlights
- 1,440‑square‑foot flex unit with 21‑foot ceilings
- 16‑foot by 16‑foot overhead door with automatic opener
- Private bathroom, floor drains, LED lighting, and industrial ceiling fan
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,773
Cap Rate
7.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$335,460
$335.5K
Cap Rate 7%
$239,614
$239.6K
Cap Rate 9%
$186,367
$186.4K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$20.2K $14.04/SF
− Vacancy
−$485 −$0.34/SF
EGI
$19.7K $13.70/SF
− OpEx
−$3.0K −$2.06/SF
NOI
$16.8K $11.65/SF
Area
Muskegon County, MI
Vacancy
2.40%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$335,460
Cap Rate 7%
$239,614
Cap Rate 9%
$186,367
Alternative Uses
Best Use
Warehouse
$239.6K
$209.7K – $279.6K
NOI $16,773 @ 7.0% cap · market cap 7.99%
Second Best
Industrial
$197.3K
$172.7K – $230.2K
NOI $13,813 @ 7.0% cap · market cap 6.58%
Theoretical Best
Hotel Hospitality
$13.52M
$11.83M – $15.78M
NOI $946,616 @ 7.0% cap · market cap 450.77%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
21 ft
Clear height
Location Intelligence
Trade Area within ½ mile
516
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- T&K Custom Catering LLC, — 1413 Winchester Dr, Muskegon, MI 49441
Frequently Asked Questions
What type of property is this?
Flex space - Insulated commercial unit with private bath, dedicated utilities, and a large automatic overhead door.
Where is this flex space located?
The property is located at 1054 W Sherman Boulevard Unit 201 Muskegon, MI.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: 1,440‑square‑foot flex unit with 21‑foot ceilings; 16‑foot by 16‑foot overhead door with automatic opener; Private bathroom, floor drains, LED lighting, and industrial ceiling fan
