Flex Building with Fenced Storage
New
For Sale
$499,900
3015 S Brooks Road, Muskegon, MI 49444
Commercial Sale, Muskegon, MI
Property Size5,800 SF
Lot Size1.69 Acres
Price / SF$86.19
Days on Market5
Property Features for 3015 S Brooks Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
M-1 Comm Ind
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Elementary school district
Fruitport
Middle school district
Fruitport
High school district
Fruitport
Standard status
Active
APN
15-101-400-0008-00
Size
5,800 SF
Lot size
1.69 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FRUITPORT CHARTER TOWNSHIP SEC 1 T9N R16W PART OF NE 1/4 OF SE 1/4 OF SD SEC 1 DESC AS FOLLOWS: BEG AT E 1/4 COR
Tax Annual Amount
5272
Legal Description
FRUITPORT CHARTER TOWNSHIP SEC 1 T9N R16W PART OF NE 1/4 OF SE 1/4 OF SD SEC 1 DESC AS FOLLOWS: BEG AT E 1/4 COR
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Water source
Well
Amenities
full bathroom with shower
kitchen and break room
lighted ground sign
Building Details
Year built
1996
Number of units
1
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Five Star Real Estate - N Musk
(231) 880-4886
Listed By:
Jenny Locke
(231) 638-2081
Added: Sep 28
Changed: Oct 2
Last Checked: Oct 2 at 11:06AM
MLS# 26051754
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 5,800-square-foot flex building, constructed in 1996, combines 4,640 square feet of warehouse area with 1,160 square feet of office space. The heated warehouse has 14-foot ceilings, a 10-foot overhead door, a truck bay, 230-volt three-phase power, and LED lighting. Office areas include two private offices, a kitchen, a break room, and a bathroom; a separate full bathroom includes a shower. Forced-air heat and central air serve the building.
The 1.69-acre property is less than 4 miles east of US-31. Its site improvements include a fenced rear area for outdoor storage, a large paved parking lot, and a lighted ground sign. Water is supplied by a well, and the property uses a septic system.
The 1.69-acre property is less than 4 miles east of US-31. Its site improvements include a fenced rear area for outdoor storage, a large paved parking lot, and a lighted ground sign. Water is supplied by a well, and the property uses a septic system.
Key Highlights
- 5,800 square feet total: 4,640 square feet of warehouse and 1,160 square feet of office
- Heated warehouse with 14' ceilings, a 10' overhead door, and a truck bay
- 230 three‑phase power and LED lighting throughout
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
$25,039
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
5.01%
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%
$500,780
$500.8K
Cap Rate 7%
$357,700
$357.7K
Cap Rate 9%
$278,211
$278.2K
Market Conditions
NOI Build-Up for 5,800 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
$39.7K $6.84/SF
− Vacancy
−$1.2K −$0.20/SF
EGI
$38.5K $6.64/SF
− OpEx
−$13.5K −$2.32/SF
NOI
$25.0K $4.32/SF
Area
Muskegon County, MI
Vacancy
2.90%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
35.00%
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%
$500,780
Cap Rate 7%
$357,700
Cap Rate 9%
$278,211
Alternative Uses
Best Use
Warehouse
$965.1K
$844.5K – $1.13M
NOI $67,556 @ 7.0% cap · market cap 13.51%
Second Best
Industrial
$794.8K
$695.4K – $927.2K
NOI $55,634 @ 7.0% cap · market cap 11.13%
Theoretical Best
Hotel Hospitality
$54.47M
$47.66M – $63.55M
NOI $3,812,760 @ 7.0% cap · market cap 762.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - The heated warehouse pairs practical shop space with private offices, a kitchen, break area, and two bathrooms.
Where is this flex space located?
The property is located at 3015 S Brooks Road Muskegon, MI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 5,800 square feet total: 4,640 square feet of warehouse and 1,160 square feet of office; Heated warehouse with 14' ceilings, a 10' overhead door, and a truck bay; 230 three‑phase power and LED lighting throughout
