Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    20 W Muskegon Ave Muskegon, MI 49440

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $500,000

    Centrally located office building with ample parking.

    Lot size:
    0.85 Acres

    Property Features for 20 W Muskegon Ave

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.85 Acres

    Building Details

    Year built
    1948

    We can help!

    Listing Contact
    David Ten Cate
    Source: Elliman

    Listing Agency: Capstone Real Estate LLC Listing Agent: David Ten Cate

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Functional Office Building with Parking

    This fully-bricked, 6,330 square foot building is centrally located on the corner of Pine and W Muskegon, close to governmental offices and the revitalized downtown area. The structure includes an air-locked foyer, a reception and waiting area, four private offices, a large executive office, a copy/workroom, a large conference room, a kitchen, mechanical/utility rooms, and two ADA restrooms. It also features over 2,000 square feet of open-concept space, suitable for multi-purpose, shared workspace applications. The corner parcel includes an expansive parking lot with over 65 off-street spaces and is highly visible and easily accessible.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Muskegon
    County
    Muskegon
    State
    Michigan
    Longitude
    -86.24504
    Latitude
    43.2365461

    Nearby Similar for Sale

    • $799,900
      7,530 SF

      Muskegon Township Commercial Opportunity

      Commercial building with additional land for sale in Muskegon Township.
      2144 Whitehall Rd, Muskegon, MI 49445
      View Details
    • $339,900
      Pending

      Muskegon Commercial Building on Whitehall

      Commercial building on 1.36 acres in thriving Whitehall Rd corridor.
      1343 Whitehall Rd, Muskegon, MI 49445
      View Details
    • New
      $369,900
      3,868 SF

      Muskegon Commercial Building For Sale

      3868 SF commercial building, rezoned for many uses.
      1787 Wagner Ave, Muskegon, MI 49442
      View Details
    • $540,000
      3,191 SF

      Established Bar & Restaurant Landmark

      Landmark bar and restaurant near Lake Michigan.
      2998 N Scenic Dr, Muskegon, MI 49445
      View Details
    • $500,000
      Pending

      Corner Office Building with Parking

      Centrally located office building with ample parking in Muskegon, MI.
      20 W Muskegon Ave, Muskegon, MI 49440
      View Details
    • $570,000
      9,690 SF

      Lakeside District Warehouse/Retail Opportunity

      9,690 SF multi-use building in Muskegon's Lakeside District.
      1812 Lakeshore Dr, Muskegon, MI 49441
      View Details
    • New
      $1,350,000
      6,522 SF

      Muskegon Commercial Investment Opportunity

      Downtown Muskegon property with new improvements, suitable for restaurant/bar.
      1208 8Th St, Muskegon, MI 49440
      View Details
    • $399,900
      1,740 SF

      Established Disc Golf Retail Business

      Turn-key disc golf retail business, building, and stock for sale.
      3142 Glade St, Muskegon, MI 49444
      View Details
    • $245,000
      4,516 SF

      High-Traffic Commercial Opportunity in Muskegon

      Commercial property in high-traffic location near Gerber Collision and VA Hospital.
      3010 E Apple Ave, Muskegon, MI 49442
      View Details
    • $424,900
      2,505 SF

      Iconic Restaurant & Bar For Sale

      Turn-key restaurant and bar with room to grow on 1+ acre.
      1300 W Sherman Blvd, Muskegon, MI 49441
      View Details
    • New
      $140,000
      1,152 SF

      Muskegon Commercial Property For Sale

      Commercial property with equipment included, potential for various food businesses.
      2106 S Getty St, Muskegon, MI 49444
      View Details
    • $159,000
      1,007 SF

      Downtown Muskegon Commercial Opportunity

      Versatile commercial building in downtown Muskegon, ideal for office space.
      986 Pine St, Muskegon, MI 49442
      View Details

    FAQs

    What type of property is this?
    Office building - Centrally located office building with ample parking.
    Where is this office building located?
    The property is located at 20 W Muskegon Ave Muskegon, MI.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: - Centrally located near governmental offices and downtown.; - Expansive parking lot with 65+ off-street spaces.; - 6,330 SF of functional space including private offices, conference room, and open-concept area.
    (616) 847-1031
    Request Owner's contact information
    20 W Muskegon Ave Muskegon, MI 49440
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    20 W Muskegon Ave
    Muskegon, MI 49440
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    20 W Muskegon Ave Muskegon, MI 49440
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    David Ten Cate
    Real Estate License ID: 6502325769
    (616) 847-1031 (616) 502-1155
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!