Tudor-Style Office
For Sale
$225,000
1497 W Laketon, Muskegon, MI 49441
The brick building includes multiple entrances and on-site parking.
Property Size720 SF
Price / SF$312.50
Days on Market33
Property Features for 1497 W Laketon
General Information
Standard status
Active
Size
720 SF
Property subtype
Industrial
Zoning
LFBC
Additional Details
Corner Location
Yes
Amenities
3
Building Details
Year Built
1900
Construction
brick, Tudor
Listing Agency:
Medendorp Real Estate Group
(231) 777-7355
Listed By:
David Medendorp · License #6505367065
(231) 206-3367
Source:
Xome
Added: Aug 4
Changed: Sep 1
Last Checked: Sep 5 at 4:31AM
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 Medendorp Real Estate Group
Investment Insights
Based on property information with market context.
This brick office building presents a Tudor-style exterior, multiple entrances, and on-site parking on a corner lot. Constructed in 1900, the property carries LFBC (Lakefront Business Commercial) zoning, supporting a range of commercial applications.
The property is situated along a primary Muskegon corridor, with Lake Michigan, Pere Marquette Beach, and downtown Muskegon located nearby. Its corner positioning and multiple access points provide a clearly defined commercial presence, while the existing building character distinguishes it from more typical office improvements.
The property is situated along a primary Muskegon corridor, with Lake Michigan, Pere Marquette Beach, and downtown Muskegon located nearby. Its corner positioning and multiple access points provide a clearly defined commercial presence, while the existing building character distinguishes it from more typical office improvements.
Key Highlights
- Tudor‑style brick office building constructed in 1900
- LFBC (Lakefront Business Commercial) zoning
- Corner‑lot position along a primary Muskegon corridor
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
$9,307
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
4.14%
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%
$186,140
$186.1K
Cap Rate 7%
$132,957
$133.0K
Cap Rate 9%
$103,411
$103.4K
Market Conditions
NOI Build-Up for 720 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
$13.7K $18.96/SF
− Vacancy
−$355 −$0.49/SF
EGI
$13.3K $18.47/SF
− OpEx
−$4.0K −$5.54/SF
NOI
$9.3K $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%
$186,140
Cap Rate 7%
$132,957
Cap Rate 9%
$103,411
Alternative Uses
Best Use
Retail
$133.0K
$116.3K – $155.1K
NOI $9,307 @ 7.0% cap · market cap 4.14%
Second Best
Office B
$113.3K
$99.2K – $132.2K
NOI $7,932 @ 7.0% cap · market cap 3.53%
Theoretical Best
Hotel Hospitality
$6.76M
$5.92M – $7.89M
NOI $473,308 @ 7.0% cap · market cap 210.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
153
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - The brick building includes multiple entrances and on-site parking.
Where is this office building located?
The property is located at 1497 W Laketon Muskegon, MI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Tudor‑style brick office building constructed in 1900; LFBC (Lakefront Business Commercial) zoning; Corner‑lot position along a primary Muskegon corridor
