Corner Flex
For Sale
$74,900
1202 Wood St, Muskegon, MI 49442
Commercial building with office, retail, and service-oriented use potential at a prominent corner location.
Property Size1,368 SF
Price / SF$54.75
Days on Market46
Property Features for 1202 Wood St
General Information
Standard status
Active
Size
1,368 SF
Additional Details
Corner Location
Yes
Building Details
Year Built
1960
Buildings
1
Building Size
1,368 SF
Listing Agency:
Legacy Real Estate Partners
(231) 855-5001
Listed By:
Terry Puffer · License #6501424238
Source:
Katie-k
Added: Jul 17
Changed: Aug 29
Last Checked: Aug 30 at 8:07PM
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 Legacy Real Estate Partners
Investment Insights
Based on property information with market context.
This commercial building offers 1,368 square feet of space within a structure built in 1960. Its flexible configuration is identified as suitable for office, retail, or service-oriented business uses, giving occupants several practical ways to use the premises.
The property occupies the corner of Wood Street and McLaughlin Avenue in Muskegon, Michigan. Corner placement supports visibility from both streets, while the location provides straightforward access for customers and clients. The building’s established commercial setting and adaptable use profile support a range of business concepts without limiting the space to a single operating format.
The property occupies the corner of Wood Street and McLaughlin Avenue in Muskegon, Michigan. Corner placement supports visibility from both streets, while the location provides straightforward access for customers and clients. The building’s established commercial setting and adaptable use profile support a range of business concepts without limiting the space to a single operating format.
Key Highlights
- 1,368‑square‑foot commercial building
- Built in 1960
- Corner location at Wood Street and McLaughlin Avenue
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
$5,906
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
7.89%
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%
$118,120
$118.1K
Cap Rate 7%
$84,371
$84.4K
Cap Rate 9%
$65,622
$65.6K
Market Conditions
NOI Build-Up for 1,368 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
$9.4K $6.84/SF
− Vacancy
−$271 −$0.20/SF
EGI
$9.1K $6.64/SF
− OpEx
−$3.2K −$2.32/SF
NOI
$5.9K $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%
$118,120
Cap Rate 7%
$84,371
Cap Rate 9%
$65,622
Alternative Uses
Best Use
Retail
$252.6K
$221.1K – $294.7K
NOI $17,684 @ 7.0% cap · market cap 23.61%
Second Best
Industrial
$187.5K
$164.0K – $218.7K
NOI $13,122 @ 7.0% cap · market cap 17.52%
Theoretical Best
Hotel Hospitality
$12.85M
$11.24M – $14.99M
NOI $899,285 @ 7.0% cap · market cap 1,200.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
514
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
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial building with office, retail, and service-oriented use potential at a prominent corner location.
Where is this flex space located?
The property is located at 1202 Wood St Muskegon, MI.
What is the asking price?
The asking price for this property is $74,900.
What are key features of this property?
This property features: 1,368‑square‑foot commercial building; Built in 1960; Corner location at Wood Street and McLaughlin Avenue
