Muskegon Net-Leased Auto Parts
For Sale
Contact for pricing
2703 Henry St, Muskegon, MI 49441
Single-tenant property leased to Advance Auto Parts until May 2032.
Property Size7,000 SF
Lot Size0.68 Acres
Price / SF$128.57
Days on Market231
Property Features for 2703 Henry St
General Information
Standard status
Active
Size
7,000 SF
Total Parking Spaces
35
Lot size
0.68 Acres
Property subtype
Retail
Zoning
C-1 | C-NE (Commercial)
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$63,000
Building Details
Year Built
1999
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
SAB Capital
Listed By:
Asher Wenig · License #10301219652
(646) 809-8856
Source:
Crexi
Added: Feb 25
Changed: Oct 11
Last Checked: Oct 12 at 9:08PM
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 SAB Capital
Investment Insights
Based on property information with market context.
The property at 2703 Henry Street in Muskegon, Michigan, is a single-tenant, net-leased building occupied by Advance Auto Parts. The building has approximately 7,000 square feet of rentable area and is situated on a 0.68-acre parcel. Advance Auto Parts, a nationally recognized and publicly traded automotive aftermarket retailer, is the sole tenant. The tenant has operated at this location for 27 years. The current lease expires in May 2032, and includes two five-year renewal options with contractual rent increases of 19% and 8%, respectively. The current in-place rent is $9 per square foot.
Key Highlights
- Long‑term tenant: Advance Auto Parts has operated at this location for 27 years.
- Passive net lease: Lease extends to May 2032, providing stable, long‑term income.
- Renewal options: Two five‑year renewal options with contractual rent increases of 19% and 8%.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,145
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,342,900
$1.3M
Cap Rate 7%
$959,214
$959.2K
Cap Rate 9%
$746,056
$746.1K
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$98.3K $14.04/SF
− Vacancy
−$2.4K −$0.34/SF
EGI
$95.9K $13.70/SF
− OpEx
−$28.8K −$4.11/SF
NOI
$67.1K $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 Rate 5%
$1,342,900
Cap Rate 7%
$959,214
Cap Rate 9%
$746,056
Alternative Uses
Best Use
Retail
$1.29M
$1.13M – $1.51M
NOI $90,488 @ 7.0% cap · market cap 10.05%
Second Best
Industrial
$959.2K
$839.3K – $1.12M
NOI $67,145 @ 7.0% cap · market cap 7.46%
Theoretical Best
Hotel Hospitality
$65.74M
$57.52M – $76.69M
NOI $4,601,606 @ 7.0% cap · market cap 511.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
625
Businesses Nearby
188k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 39%
Dining 26%
Groceries 19%
Home Improvements & Furnishings 14%
The Home Depot
Home Improvements & Furnishings
26,924 visits/mo
0.1 miles
Aldi
Groceries
18,796 visits/mo
0.1 miles
Dollar Tree
Shops & Services
17,655 visits/mo
0.0 miles
Gordon Food Service
Groceries
17,419 visits/mo
0.0 miles
Taco Bell
Dining
14,163 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Auto shop - Single-tenant property leased to Advance Auto Parts until May 2032.
Where is this auto shop located?
The property is located at 2703 Henry St Muskegon, MI.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Long‑term tenant: Advance Auto Parts has operated at this location for 27 years.; Passive net lease: Lease extends to May 2032, providing stable, long‑term income.; Renewal options: Two five‑year renewal options with contractual rent increases of 19% and 8%.
