Finished Retail Space with High
New
For Sale
$236,000
5694 Airline Road #A1, Fruitport, MI 49415
Newly built retail space with finished interiors and mini-split heating and cooling.
Property Size1,440 SF
Days on Market2
Property Features for 5694 Airline Road #A1
General Information
Standard status
Active
Size
1,440 SF
Total Parking Spaces
15
Property subtype
Commercial
Zoning
B-3
Amenities
18-foot ceilings
fully finished interiors
energy efficient mini-split systems
Building Details
Building Size
1,440 SF
Year Built
2025
Buildings
1
Stories
1
Units
1
Listing Agency:
Greenridge Realty Muskegon
(231) 670-6573
Listed By:
Trent Currie
(231) 670-6573
Source:
Irishhillsfivestarhomes
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 4:13AM
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 Greenridge Realty Muskegon
Investment Insights
Based on property information with market context.
Built in 2025, this retail property offers fully completed interiors, 18-foot ceilings, and energy-efficient mini-split systems for heating and cooling. The configuration includes twelve units available for purchase or lease, providing multiple commercial spaces within the development.
Located at 5694 Airline Road in Fruitport, Michigan, the property carries B-3 zoning. Unit A1 is identified within the project, while the broader development includes twelve available units.
Located at 5694 Airline Road in Fruitport, Michigan, the property carries B-3 zoning. Unit A1 is identified within the project, while the broader development includes twelve available units.
Key Highlights
- 18‑foot ceilings
- Fully finished interiors
- Energy‑efficient mini‑split heating and cooling systems
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
$18,615
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%
$372,300
$372.3K
Cap Rate 7%
$265,929
$265.9K
Cap Rate 9%
$206,833
$206.8K
Market Conditions
NOI Build-Up for 1,440 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
$27.3K $18.96/SF
− Vacancy
−$710 −$0.49/SF
EGI
$26.6K $18.47/SF
− OpEx
−$8.0K −$5.54/SF
NOI
$18.6K $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%
$372,300
Cap Rate 7%
$265,929
Cap Rate 9%
$206,833
Alternative Uses
Best Use
Retail
$265.9K
$232.7K – $310.3K
NOI $18,615 @ 7.0% cap · market cap 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$13.52M
$11.83M – $15.78M
NOI $946,616 @ 7.0% cap · market cap 401.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
847
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Napa Auto Parts
Shops & Services
847 visits/mo
0.1 miles
Demographics for 49415, MI
6,618
Population
2,566
Households
2.6
Avg Household Size
43
Median Age
23%
College-Educated
94%
High-School Grad
27.6 sq mi
ZIP Area
240
Density / Sq Mi
$77,140
Median Household Income
$40,776
Median Earnings
$1,113
Median Rent
$230,600
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 - Newly built retail space with finished interiors and mini-split heating and cooling.
Where is this retail space located?
The property is located at 5694 Airline Road #A1 Fruitport, MI.
What is the asking price?
The asking price for this property is $236,000.
What are key features of this property?
This property features: 18‑foot ceilings; Fully finished interiors; Energy‑efficient mini‑split heating and cooling systems
