Freestanding Corner Retail
For Sale
Contact for pricing
24 South Beechtree Street, Grand Haven, MI 49417
Single-story corner retail building with strong frontage and visibility, suitable for an owner-user or redevelopment.
Property Size1,877 SF
Price / SF$159.30
Days on Market65
Property Features for 24 South Beechtree Street
General Information
Standard status
Active
Size
1,877 SF
Property subtype
Retail
Zoning
Commercial - Improved
Investment Type
Owner/User
Building Details
Year Built
1926
Buildings
1
Stories
1
Listing Agency:
Northstar Commercial - Grand Haven
Listed By:
Steve Wilson · License #MI
Source:
Crexi
Added: Jun 9
Changed: Aug 8
Last Checked: Aug 11 at 4:21PM
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 Northstar Commercial - Grand Haven
Investment Insights
Based on property information with market context.
This freestanding, single-story retail building offers approximately 1,877 square feet and is situated on a corner parcel. The property was most recently operated as Lakeview Marine & Tackle, supporting straightforward retail use. It is positioned to serve customers coming from multiple directions thanks to its corner configuration.
Located at the corner of South Beechtree Street and Franklin Avenue in Grand Haven, the building benefits from street frontage and visibility on an established South Beechtree commercial corridor. The site’s corner presence is designed to capture passing traffic and improve exposure to both street directions.
The layout and existing retail orientation make the property a practical fit for an owner-user looking to establish or relocate a storefront business. It also presents an option for buyers considering redevelopment along an active commercial corridor, leveraging the site’s frontage and visibility for a new retail concept.
Located at the corner of South Beechtree Street and Franklin Avenue in Grand Haven, the building benefits from street frontage and visibility on an established South Beechtree commercial corridor. The site’s corner presence is designed to capture passing traffic and improve exposure to both street directions.
The layout and existing retail orientation make the property a practical fit for an owner-user looking to establish or relocate a storefront business. It also presents an option for buyers considering redevelopment along an active commercial corridor, leveraging the site’s frontage and visibility for a new retail concept.
Key Highlights
- Freestanding single‑story retail building built in 1926
- 1,877 SF single‑story retail building, most recently operated as Lakeview Marine & Tackle
- Located on the corner of South Beechtree Street and Franklin Avenue in Grand Haven
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
$19,485
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
6.52%
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%
$389,700
$389.7K
Cap Rate 7%
$278,357
$278.4K
Cap Rate 9%
$216,500
$216.5K
Market Conditions
NOI Build-Up for 1,877 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
$29.1K $15.48/SF
− Vacancy
−$1.2K −$0.65/SF
EGI
$27.8K $14.83/SF
− OpEx
−$8.4K −$4.45/SF
NOI
$19.5K $10.38/SF
Area
Ottawa County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$389,700
Cap Rate 7%
$278,357
Cap Rate 9%
$216,500
Alternative Uses
Best Use
Retail
$278.4K
$243.6K – $324.8K
NOI $19,485 @ 7.0% cap · market cap 6.52%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$23.34M
$20.42M – $27.23M
NOI $1,633,870 @ 7.0% cap · market cap 546.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
6k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
4,450 visits/mo
0.1 miles
Enterprise Rent-A-Car
Shops & Services
796 visits/mo
0.1 miles
Napa Auto Parts
Shops & Services
265 visits/mo
0.1 miles
Demographics for 49417, MI
32,406
Population
14,709
Households
2.2
Avg Household Size
43
Median Age
38%
College-Educated
95%
High-School Grad
46.9 sq mi
ZIP Area
691
Density / Sq Mi
$84,476
Median Household Income
$45,392
Median Earnings
$1,101
Median Rent
$287,800
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?
Storefront property - Single-story corner retail building with strong frontage and visibility, suitable for an owner-user or redevelopment.
Where is this storefront property located?
The property is located at 24 South Beechtree Street Grand Haven, MI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Freestanding single‑story retail building built in 1926; 1,877 SF single‑story retail building, most recently operated as Lakeview Marine & Tackle; Located on the corner of South Beechtree Street and Franklin Avenue in Grand Haven
