Multi-Use Retail Service
For Sale
$650,000
1930 Lakeshore Drive, Muskegon, MI 49441
COMMERCIAL - Muskegon, MI
Property Size2,306 SF
Lot Size0.42 Acres
Price / SF$281.87
Days on Market428
Property Features for 1930 Lakeshore Drive
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Interior features
Broadband
Elementary school district
Muskegon
Middle school district
Muskegon
High school district
Muskegon
Directions
Take Lakeshore Drive to the property.
Subdivision
Muskegon County - M
Standard status
Active
APN
24205596000400
Size
2,306 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Year
25
Tax Description
CITY OF MUSKEGON REVISED PLAT OF 1903 WLY 16 FT LOT 3 & ELY 173 1/2 FT LOT 4 BLK 596
Tax Annual Amount
8314
Legal Description
CITY OF MUSKEGON REVISED PLAT OF 1903 WLY 16 FT LOT 3 & ELY 173 1/2 FT LOT 4 BLK 596
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
1969
Floors in Building
2
Number of units
1
Building materials
Block, Brick
Roof type
Composition
Listing Agency:
Five Star Real Estate-Holland
(616) 335-6050
Listed By:
Jared Brown · License #6501434065
(616) 414-0980
Added: Jun 26, 2025
Changed: Aug 14
Last Checked: Aug 27 at 11:06PM
MLS# 25031110
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multi-use commercial property at 1930 Lakeshore Drive has operated continuously under family ownership since 1969. The site has previously functioned as a full-service station and gas station, and it is currently in use as a novelty candy store that has been operating for nearly two decades. The property is set on a large parcel and is offered for sale for continued commercial use.
The offering includes approximately 2,306 square feet of property area on a 0.42-acre lot. Interested buyers and brokers should review the existing improvements and operating layout to confirm fit for their intended retail or service concept.
The offering includes approximately 2,306 square feet of property area on a 0.42-acre lot. Interested buyers and brokers should review the existing improvements and operating layout to confirm fit for their intended retail or service concept.
Key Highlights
- Multi‑use commercial property in Muskegon’s Lakeside District; originally a full‑service and gas station, currently a novelty candy store.
- Built in 1969 with block and brick construction and a composition roof.
- Heating is forced air.
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
$29,809
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
4.59%
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%
$596,180
$596.2K
Cap Rate 7%
$425,843
$425.8K
Cap Rate 9%
$331,211
$331.2K
Market Conditions
NOI Build-Up for 2,306 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
$43.7K $18.96/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$42.6K $18.47/SF
− OpEx
−$12.8K −$5.54/SF
NOI
$29.8K $12.93/SF
Area
Muskegon County, MI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
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%
$596,180
Cap Rate 7%
$425,843
Cap Rate 9%
$331,211
Alternative Uses
Best Use
Retail
$425.8K
$372.6K – $496.8K
NOI $29,809 @ 7.0% cap · market cap 4.59%
Second Best
Specialty Retail
$366.4K
$320.6K – $427.5K
NOI $25,648 @ 7.0% cap · market cap 3.95%
Theoretical Best
Hotel Hospitality
$21.66M
$18.95M – $25.27M
NOI $1,515,901 @ 7.0% cap · market cap 233.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
154
Businesses Nearby
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 Retail 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?
Retail space - Property currently operates as a novelty candy store on a sizable lakeside commercial parcel.
Where is this retail space located?
The property is located at 1930 Lakeshore Drive Muskegon, MI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Multi‑use commercial property in Muskegon’s Lakeside District; originally a full‑service and gas station, currently a novelty candy store.; Built in 1969 with block and brick construction and a composition roof.; Heating is forced air.
