Freestanding Office
1921 Ruddiman, Muskegon, MI 49441
For Sale
$209,000
Four private work rooms accompany a reception area and kitchen.
Property Size1,200 SF
Price / SF$174.17
Days on Market99
Property Features for 1921 Ruddiman
General Information
Standard status
Size
Property subtype
Additional Details
Condition
Property Use
Building Details
Year Built
Listing Agency:
Core Realty Partners LLC
(231) 375-5273
Listed By:
Bryan Bench · License MI #6501293444
(231) 578-2508
Source:
Jabachler
Added: Aug 5
Changed: Nov 11
Last Checked: Nov 11 at 2:03AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,200-square-foot office building has four private offices, a reception area, and a kitchen on the main level. That floor has been renovated with modern finishes. A full basement adds storage space and includes a restroom. The grounds are landscaped, and an asphalt parking lot provides on-site parking.
The property is near the four corners in North Muskegon, with the Whitehall Road commercial corridor nearby. Built in 1950, the building is offered for sale or lease.
The property is near the four corners in North Muskegon, with the Whitehall Road commercial corridor nearby. Built in 1950, the building is offered for sale or lease.
Key Highlights
- 1,200‑square‑foot office building
- Four private offices, reception area, and kitchen on the main floor
- Renovated main level with modern finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,220
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$264,400
$264.4K
Cap Rate 7%
$188,857
$188.9K
Cap Rate 9%
$146,889
$146.9K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$20.4K $17.04/SF
− Vacancy
−$2.8K −$2.35/SF
EGI
$17.6K $14.69/SF
− OpEx
−$4.4K −$3.67/SF
NOI
$13.2K $11.02/SF
Area
Muskegon County, MI
Vacancy
13.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$264,400
Cap Rate 7%
$188,857
Cap Rate 9%
$146,889
Alternative Uses
Best Use
Office B
$188.9K
$165.3K – $220.3K
NOI $13,220 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$252.5K
$221.0K – $294.6K
NOI $17,676 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
164
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
$194,000
Median Home Value
Market
Average Price Trend$/SF for Office buildings in Muskegon County, MI
Properties on Market for Office buildings in Muskegon County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Four private work rooms accompany a reception area and kitchen.
Where is this office building located?
The property is located at 1921 Ruddiman Muskegon, MI.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: 1,200‑square‑foot office building; Four private offices, reception area, and kitchen on the main floor; Renovated main level with modern finishes
