380 W Western Avenue #Units 1 & 2, Muskegon, MI 49440
Own a fully occupied first-floor corner with combined office and retail space and direct client access in downtown Muskegon.
- Added:
- Jul 31, 2023
- Days on Market:
- 1074
- Last Refresh:
- Jul 8 at 3:35 am
Property Features for 380 W Western Avenue #Units 1 & 2
General Information
- Standard status
- Active
- Size
- 8,714 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2008
Listing office Capstone Real Estate LLC (616) 847-1031
Listing date Jul 31, 2023
Source Carolbollo
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 Capstone Real Estate LLC
HighLights
- Built in 2008 landmark multi‑tenant building—own the entire first‑floor commercial condominium units 1 and 2
- Units 1 and 2 total 8,714 SF of main level office/commercial/retail space
- Fully leased: 2 professional office tenants plus 1 national food retailer
- Corner location with convenient client access
- Walkable downtown Muskegon near restaurants, shopping, cultural attractions, and waterfront activities
Overview
Positioned on a corner, the property is described as offering convenient client access, with visibility supported by its downtown setting. The building is located in the heart of Downtown Muskegon, within walking distance to restaurants, shopping, and both cultural and waterfront activities.
For buyers seeking an owner-occupant or investment-minded hold, this structure offers a consolidated, first-floor footprint rather than a single small suite. With tenants already in place across office and retail uses, the space is suited for ownership by parties looking to maintain an operating mix at street level. As a commercial condominium interest, it provides a defined ownership structure within the larger multi-tenant building.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $165.2k | $18.96 |
| − Vacancy | −$4.3k | −$0.49 |
| EGI | $160.9k | $18.47 |
| − OpEx | −$48.3k | −$5.54 |
| NOI | $112.6k | $12.93 |
Alternative Uses
Current Use by Public Records
Map
- City
- Muskegon
- County
- Muskegon
- State
- Michigan
- Longitude
- -86.2532
- Latitude
- 43.2355
