Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Boutique Retail/Office Space Title is generated by Realmo AI

    221 W Webster Ave 2G, Muskegon, MI 49440

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $28 SF/Yr

    Unique space in revitalized historic building with modern amenities.

    Type:Commercial
    Added:
    Apr 24, 2026
    Days on Market:
    29
    Last Refresh:
    Apr 24 at 6:07 pm

    Property Features for 221 W Webster Ave 2G

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1962

    We can help!

    Listing Contact
    Bryan D Bench

    Listing agent Bryan D Bench

    Listing office Core Realty Partners LLC

    Listing date Apr 24, 2026

    Source Elliman

    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 Core Realty Partners LLC

    HighLights

    • Prime downtown Muskegon location with high foot traffic due to on‑site food hall and bar.
    • Unique, historically restored former bank building with modern amenities.
    • On‑site gym, food hall, and bar (Liquid Assets) provide convenient amenities.
    • Second‑floor boutique suite ideal for retail, personal services, or creative concepts.
    • Located among a curated mix of lifestyle and creative businesses.
    • Lease term options from 12‑120 months.

    Overview

    Located in downtown Muskegon, this second-floor boutique suite is situated within a revitalized mid-century building, formerly a bank, blending historic character with modern energy. The space is surrounded by a mix of lifestyle and creative businesses, including a tattoo parlor, barbershop, salon, and photographer. The building features a gym in the basement, a food hall, and a bar on the first floor, providing foot traffic and on-site amenities. Floors 3-6 are occupied by office tenants. This space is suitable for boutique retail, personal services, or creative concepts, offering visibility and style. The location has a bike score of 64, indicating it is bikeable, and a walk score of 50, indicating car-dependence. Lease terms are available from 12-120 months.
    Location Intelligence

    Current Use by Public Records

    Retail space

    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
    -86.2491824
    Latitude
    43.2345665

    Nearby Similar for Lease

    • $10 SF/Yr
      5,280 SF

      Move-in Ready Commercial Building

      High-visibility commercial building suitable for medical, retail, or professional office.
      3044 Glade Street, Muskegon, MI 49444
      View Details
    • $13 SF/Yr
      3,000 SF

      Versatile Commercial Space in Muskegon

      Adaptable office or retail space in a high-visibility location.
      420 N Whitehall Road, Muskegon, MI 49445
      View Details
    • $11 SF/Yr
      5,000 SF

      Muskegon Commercial Space For Lease

      Flexible office or retail space in North Muskegon.
      420 N Whitehall Road, Muskegon, MI 49445
      View Details
    • $1,300/Mo
      1,774 SF

      Muskegon Commercial Space For Lease

      Versatile commercial space ready for customization in Muskegon, Michigan.
      3101 S Getty Street, Muskegon, MI 49444
      View Details
    • $14 SF/Yr
      4,492 SF

      Class A Office Space Available

      Modern office space for lease in Muskegon's Harvey Street corridor.
      5797 Harvey Street, Muskegon, MI 49444
      View Details
    • $13 SF/Yr
      5,234 SF

      Class A Office Space Available

      Modern office space for lease in Muskegon's Harvey Street corridor.
      5797 Harvey Street, Muskegon, MI 49444
      View Details
    • $1,300/Mo
      1,774 SF

      Muskegon Commercial Space For Lease

      Versatile commercial space ready for customization in Muskegon, Michigan.
      3101 S Getty Street, Muskegon, MI 49444
      View Details
    • $1,800/Mo
      1,114 SF

      Remodeled Office Building Near Port

      34,956 SF remodeled office building near Muskegon Lake.
      1161 W Southern Avenue, Muskegon, MI 49441
      View Details
    • $1,500/Mo
      708 SF

      Remodeled Office Building in Muskegon

      Completely remodeled office building near Muskegon Lake and Pere Marquette Park.
      1161 W Southern Avenue, Muskegon, MI 49441
      View Details
    • $13 SF/Yr
      80,700 SF

      Downtown Muskegon Mixed-Use Commercial Space

      Newer construction commercial space in downtown Muskegon for lease.
      1021 Jefferson Street, Muskegon, MI 49440
      View Details
    • $1,500/Mo
      690 SF

      Remodeled Office Building in Muskegon

      High-tech, remodeled office space near Muskegon Lake and Pere Marquette Park.
      1161 W Southern Avenue, Muskegon, MI 49441
      View Details
    • $13 SF/Yr
      80,700 SF

      Downtown Muskegon Mixed-Use Commercial Space

      Newer construction commercial space in downtown Muskegon.
      1021 Jefferson Street, Muskegon, MI 49440
      View Details

    FAQs

    What type of property is this?
    Retail space - Unique space in revitalized historic building with modern amenities.
    Where is this retail space located?
    The property is located at 221 W Webster Ave 2G Muskegon, MI.
    What is the lease rate?
    The lease rate is $28 SF/Yr.
    What are key features of this property?
    This property features: Prime downtown Muskegon location with **high foot traffic** due to on‑site food hall and bar.; Unique, **historically restored former bank building** with modern amenities.; On‑site gym, food hall, and bar (Liquid Assets) provide convenient amenities.
    (231) 578-2508
    We can help!
    Listing Contact
    Bryan D Bench
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    221 W Webster Ave 2G, Muskegon, MI 49440
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!