Street-Level Office or Retail
For Sale
$349,000
296 W Clay Avenue, Muskegon, MI 49440
COMMERCIAL - Muskegon, MI
Property Size1,166 SF
Lot Size0.24 Acres
Price / SF$299.31
Days on Market54
Property Features for 296 W Clay Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Basement
Interior features
Broadband
Elementary school district
Muskegon
Middle school district
Muskegon
High school district
Muskegon
Standard status
Active
APN
24-433-000-0004-00
Size
1,166 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CITY OF MUSKEGON HERITAGE SQUARE COMMONS UNIT 4C
Tax Annual Amount
5307
Legal Description
CITY OF MUSKEGON HERITAGE SQUARE COMMONS UNIT 4C
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2017
Floors in Building
1
Number of units
4
Building materials
Brick, Stone
Roof type
Composition
Listing Agency:
Greenridge - Nexes
(231) 739-3501
Listed By:
Euginnia Seyferth
(231) 750-2828
Added: Jun 9
Changed: Jul 28
Last Checked: Aug 1 at 12:06AM
MLS# 26028002
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 street-level office or retail suite is located within the brownstone-style Heritage Square development. The current layout includes four private offices, a welcoming reception area, a kitchenette, and two open workspaces, supporting a variety of professional or service-focused uses. Additional on-site utility includes approximately 200 square feet of dedicated basement storage.
The property is situated in downtown Muskegon and is described as being surrounded by museums, theaters, restaurants, hotels, the culinary institute, festivals, parks, and marinas. Buyer and buyer’s agent are advised to verify all information.
The building and suite configuration are designed for flexible occupancy, with multiple private rooms plus open workspace areas and dedicated storage to support day-to-day operations.
The property is situated in downtown Muskegon and is described as being surrounded by museums, theaters, restaurants, hotels, the culinary institute, festivals, parks, and marinas. Buyer and buyer’s agent are advised to verify all information.
The building and suite configuration are designed for flexible occupancy, with multiple private rooms plus open workspace areas and dedicated storage to support day-to-day operations.
Key Highlights
- Over 1,000 sq ft street‑level office/retail unit in the Heritage Square development in downtown Muskegon
- Layout includes four private offices, reception area, kitchenette, and two open workspaces
- Approximately 200 sq ft of dedicated basement storage
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.1k | $18.96 |
| − Vacancy | −$575 | −$0.49 |
| EGI | $21.5k | $18.47 |
| − OpEx | −$6.5k | −$5.54 |
| NOI | $15.1k | $12.93 |
1,166 SF · lease $18.96/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$215.3K
$188.4K – $251.2K
NOI $15,073 @ 7.0% cap · market cap 4.32%
Second Best
Office B
$183.5K
$160.6K – $214.1K
NOI $12,845 @ 7.0% cap · market cap 3.68%
Theoretical Best
Hotel Hospitality
$10.95M
$9.58M – $12.77M
NOI $766,496 @ 7.0% cap · market cap 219.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,317
Businesses Nearby
Explore this area
Business Placement
Demographics for 49440, MI
1,320
Population
860
Households
1.5
Avg Household Size
44
Median Age
36%
College-Educated
93%
High-School Grad
0.6 sq mi
ZIP Area
2,200
Density / Sq Mi
$42,500
Median Household Income
$37,067
Median Earnings
$791
Median Rent
$163,100
Median Home Value
Market
Vacancy Rate% for Office 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?
Office units - Street-level suite in a brownstone-style development with four private offices, reception, kitchenette, and two open workspaces.
Where is this office units located?
The property is located at 296 W Clay Avenue Muskegon, MI.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Over 1,000 sq ft street‑level office/retail unit in the Heritage Square development in downtown Muskegon; Layout includes four private offices, reception area, kitchenette, and two open workspaces; Approximately 200 sq ft of dedicated basement storage
