Commercial Flex Storage
For Sale
$179,500
11-2050 Northwoods Ave, Muskegon, MI 49442
Newly constructed flex storage units feature 20-foot ceilings, private full bathrooms, and heating and air conditioning.
Property Size2,040 SF
Price / SF$87.99
Days on Market72
Property Features for 11-2050 Northwoods Ave
General Information
Standard status
Active
Size
2,040 SF
Additional Details
Clear Height
20 ft
Taxes and HOA fees
Annual Taxes
$27
Amenities
private full bathroom
heating and air conditioning
epoxy flooring
100-amp electrical service
Listing Agency:
RE/MAX West
(231) 733-1236
Listed By:
Renee Kirksey
(231) 903-5533
Source:
Exprealty
Added: Jun 28
Changed: Sep 5
Last Checked: Sep 6 at 3:13PM
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 RE/MAX West
Investment Insights
Based on property information with market context.
Newly constructed flex storage units and recreational caves are offered for sale at 2050 Northwoods Drive in Muskegon. Each unit measures approximately 30' x 68' with 20-foot ceilings and includes a private full bathroom. Interior features include heating and air conditioning, epoxy flooring, and 100-amp electrical service.
Owners can customize their space with options such as mezzanines, ceiling fans, windows, and more, depending on their intended use. These units are positioned for storage, business use, hobbies, recreational vehicles, or personal retreat space, with the flexibility to tailor the interior layout to fit the buyer’s plan.
Owners can customize their space with options such as mezzanines, ceiling fans, windows, and more, depending on their intended use. These units are positioned for storage, business use, hobbies, recreational vehicles, or personal retreat space, with the flexibility to tailor the interior layout to fit the buyer’s plan.
Key Highlights
- Newly constructed commercial flex storage units at 2050 Northwoods Drive in Muskegon
- Each unit is approximately 30' x 68' with 20‑foot ceilings
- Units include a private full bathroom, heating and air conditioning
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
$8,807
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
4.91%
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%
$176,140
$176.1K
Cap Rate 7%
$125,814
$125.8K
Cap Rate 9%
$97,856
$97.9K
Market Conditions
NOI Build-Up for 2,040 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
$14.0K $6.84/SF
− Vacancy
−$405 −$0.20/SF
EGI
$13.5K $6.64/SF
− OpEx
−$4.7K −$2.32/SF
NOI
$8.8K $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%
$176,140
Cap Rate 7%
$125,814
Cap Rate 9%
$97,856
Alternative Uses
Best Use
Warehouse
$339.4K
$297.0K – $396.0K
NOI $23,761 @ 7.0% cap · market cap 13.24%
Second Best
Self Storage
$281.9K
$246.7K – $328.9K
NOI $19,735 @ 7.0% cap · market cap 10.99%
Theoretical Best
Hotel Hospitality
$19.16M
$16.76M – $22.35M
NOI $1,341,040 @ 7.0% cap · market cap 747.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Balanced
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 - Newly constructed flex storage units feature 20-foot ceilings, private full bathrooms, and heating and air conditioning.
Where is this flex space located?
The property is located at 11-2050 Northwoods Ave Muskegon, MI.
What is the asking price?
The asking price for this property is $179,500.
What are key features of this property?
This property features: Newly constructed commercial flex storage units at 2050 Northwoods Drive in Muskegon; Each unit is approximately 30' x 68' with 20‑foot ceilings; Units include a private full bathroom, heating and air conditioning
