Remodeled Retail Showroom
For Sale
$129,900
2184 S Getty Street, Muskegon, MI 49444
Remodeled showroom building with restroom, lobby, office, one-stall garage, and ample front, side, and rear parking.
Property Size720 SF
Price / SF$180.42
Days on Market196
Property Features for 2184 S Getty Street
General Information
Standard status
Active
Size
720 SF
Property subtype
Industrial
Amenities
3
Composition
80128
Building Details
Year Built
1974
Listing Agency:
Coldwell Banker Woodland Schmidt ART Office
(616) 901-7556
Listed By:
Cristi Brophy · License #6501372915
(616) 901-7556
Source:
Xome
Added: Jan 28
Changed: Aug 12
Last Checked: Aug 12 at 4:05AM
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 Coldwell Banker Woodland Schmidt ART Office
Investment Insights
Based on property information with market context.
This remodeled retail showroom building includes a restroom, lobby, and office, along with a one-stall garage. Updates include new windows, doors, flooring, bathroom improvements, and a new business sign. Plenty of parking is available in front, as well as along the side and rear of the building.
The property is located at S 2184 S Getty Street Unit SourceFi in Muskegon, MI 49444. The site has previously been used as a car lot and has performed well under that configuration.
The listing is for sale, and the owner indicates they are not interested in renting. The remarks also note that the transaction will not be structured as a land contract.
The property is located at S 2184 S Getty Street Unit SourceFi in Muskegon, MI 49444. The site has previously been used as a car lot and has performed well under that configuration.
The listing is for sale, and the owner indicates they are not interested in renting. The remarks also note that the transaction will not be structured as a land contract.
Key Highlights
- Remodeled showroom building with a restroom, lobby, and office space
- Includes 1‑stall garage plus ample parking in the front, side, and rear of the building
- Recent updates include new windows, new doors, new flooring, and an updated bathroom
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
7.16%
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 7.16%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$6.76M
$5.92M – $7.89M
NOI $473,308 @ 7.0% cap · market cap 364.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Dining 44%
Beauty & Spa 8%
Little Caesars Pizza
Dining
5,005 visits/mo
0.3 miles
Sunoco
Shops & Services
4,624 visits/mo
0.1 miles
The Works
Beauty & Spa
938 visits/mo
0.3 miles
Napa Auto Parts
Shops & Services
918 visits/mo
0.3 miles
Demographics for 49444, MI
26,281
Population
11,635
Households
2.3
Avg Household Size
38
Median Age
18%
College-Educated
91%
High-School Grad
24.7 sq mi
ZIP Area
1,064
Density / Sq Mi
$52,143
Median Household Income
$34,423
Median Earnings
$941
Median Rent
$159,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Showroom - Remodeled showroom building with restroom, lobby, office, one-stall garage, and ample front, side, and rear parking.
Where is this showroom located?
The property is located at 2184 S Getty Street Muskegon, MI.
What is the asking price?
The asking price for this property is $129,900.
What are key features of this property?
This property features: Remodeled showroom building with a restroom, lobby, and office space; Includes 1‑stall garage plus ample parking in the front, side, and rear of the building; Recent updates include new windows, new doors, new flooring, and an updated bathroom
