Standalone Cinder Block
For Sale
$284,900
2256 E Apple Avenue, Muskegon, MI 49442
COMMERCIAL - Muskegon, MI
Property Size2,418 SF
Lot Size1.22 Acres
Price / SF$117.82
Days on Market205
Property Features for 2256 E Apple Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
Orchard View
Middle school district
Orchard View
High school district
Orchard View
Directions
US 31 to Apple Ave exit, East to 2256/2260 E. Apple Ave between Quarterline and Sheridan on the north side of the road.
Standard status
Active
APN
62-10-688-012-0005-00
Size
2,418 SF
Lot size
1.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lengthy Legal See Attached Documents
Tax Annual Amount
4296
Legal Description
Lengthy Legal See Attached Documents
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
1959
Number of units
1
Listing Agency:
Besteman Properties Group Inc.
(616) 724-3000
Listed By:
Susan Besteman · License #6502417127
(616) 890-0198
Added: Jan 28
Changed: Aug 4
Last Checked: Aug 21 at 3:06AM
MLS# 26003281
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This standalone, one-story storefront is constructed with solid cinder block and contains 2,418 square feet of commercial space. The property includes a bathroom, forced-air heat, broadband, and cable availability. A separate house is also included on the parcel, creating a two-structure commercial property configuration. The building was constructed in 1959 and previously supported a motorsports dealership and service operation for personal watercraft, ATVs, and UTVs.
The 1.22-acre site fronts E Apple Avenue in Muskegon, with 143 feet of road frontage. Apple Avenue is identified as a high-traffic corridor, and the property sits just east of US 31. A quick oil-change and car-wash business is located to the west, while a jewelry store is situated to the east. Baker College and Muskegon Community College are approximately three-quarters of a mile away. C1 zoning and ample parking support a range of commercial applications, subject to applicable approvals.
The 1.22-acre site fronts E Apple Avenue in Muskegon, with 143 feet of road frontage. Apple Avenue is identified as a high-traffic corridor, and the property sits just east of US 31. A quick oil-change and car-wash business is located to the west, while a jewelry store is situated to the east. Baker College and Muskegon Community College are approximately three-quarters of a mile away. C1 zoning and ample parking support a range of commercial applications, subject to applicable approvals.
Key Highlights
- 2,418‑square‑foot standalone commercial storefront
- 1.22‑acre parcel with 143 feet of road frontage
- Solid cinder block, one‑story building constructed in 1959
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
$23,194
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
8.14%
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%
$463,880
$463.9K
Cap Rate 7%
$331,343
$331.3K
Cap Rate 9%
$257,711
$257.7K
Market Conditions
NOI Build-Up for 2,418 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
$33.9K $14.04/SF
− Vacancy
−$815 −$0.34/SF
EGI
$33.1K $13.70/SF
− OpEx
−$9.9K −$4.11/SF
NOI
$23.2K $9.59/SF
Area
Muskegon County, MI
Vacancy
2.40%
Lease Rate
$14.04 /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%
$463,880
Cap Rate 7%
$331,343
Cap Rate 9%
$257,711
Alternative Uses
Best Use
Retail
$446.5K
$390.7K – $521.0K
NOI $31,257 @ 7.0% cap · market cap 10.97%
Second Best
Industrial
$331.3K
$289.9K – $386.6K
NOI $23,194 @ 7.0% cap · market cap 8.14%
Theoretical Best
Hotel Hospitality
$22.71M
$19.87M – $26.49M
NOI $1,589,526 @ 7.0% cap · market cap 557.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
63k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 67%
Dining 13%
Groceries 12%
Electronics 8%
Corner Store
Shops & Services
11,049 visits/mo
0.2 miles
Dollar General
Shops & Services
8,273 visits/mo
0.4 miles
Save-A-Lot
Groceries
7,628 visits/mo
0.2 miles
Little Caesars Pizza
Dining
6,832 visits/mo
0.1 miles
The UPS Store
Shops & Services
6,136 visits/mo
0.5 miles
Demographics for 49442, MI
45,342
Population
17,759
Households
2.6
Avg Household Size
37
Median Age
11%
College-Educated
87%
High-School Grad
41.0 sq mi
ZIP Area
1,106
Density / Sq Mi
$50,069
Median Household Income
$33,257
Median Earnings
$889
Median Rent
$116,100
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?
Storefront property - C1-zoned commercial property with a separate house, on-site parking, and broadband availability.
Where is this storefront property located?
The property is located at 2256 E Apple Avenue Muskegon, MI.
What is the asking price?
The asking price for this property is $284,900.
What are key features of this property?
This property features: 2,418‑square‑foot standalone commercial storefront; 1.22‑acre parcel with 143 feet of road frontage; Solid cinder block, one‑story building constructed in 1959
