Industrial Building with Flexible
For Sale
$749,000
3129 E Laketon Avenue, Muskegon, MI 49442
Commercial Sale, Muskegon, MI
Property Size11,000 SF
Lot Size1.93 Acres
Price / SF$68.34
Days on Market92
Property Features for 3129 E Laketon Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
I-Lt Industrial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Elementary school district
Orchard View
Middle school district
Orchard View
High school district
Orchard View
Standard status
Active
APN
10-035-200-0009-50
Size
10,960 SF
Lot size
1.93 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Attached.
Tax Annual Amount
1
Legal Description
Attached.
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Building Details
Year built
2020
Floors in Building
1
Number of units
1
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
Core Realty Partners LLC
(231) 375-5273
Listed By:
Bryan D Bench · License #6505385692
(231) 578-2508
Added: Jun 9
Changed: Sep 7
Last Checked: Sep 8 at 4:06PM
MLS# 26028131
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 industrial property includes a 10,960-square-foot metal-sided building on 1.93 acres. Built in 2020, the facility has forced-air heating, metal roofing, two bathrooms, and natural gas available. HVAC and power infrastructure are in place for light industrial operations, while current renovation work is reconfiguring the interior for future occupancy. The prior use was a grow operation.
The property is located at 3129 E Laketon Avenue in Muskegon, approximately 3 miles east of the Laketon-US 31 interchange. Its combination of recently constructed improvements, sizable land area, and adaptable interior configuration supports a range of industrial occupancy requirements.
The property is located at 3129 E Laketon Avenue in Muskegon, approximately 3 miles east of the Laketon-US 31 interchange. Its combination of recently constructed improvements, sizable land area, and adaptable interior configuration supports a range of industrial occupancy requirements.
Key Highlights
- 10,960‑square‑foot industrial building on 1.93 acres
- Constructed in 2020 with metal siding and a metal roof
- HVAC and power infrastructure suited to light industrial operations
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
$47,315
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
6.32%
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%
$946,300
$946.3K
Cap Rate 7%
$675,929
$675.9K
Cap Rate 9%
$525,722
$525.7K
Market Conditions
NOI Build-Up for 10,960 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
$75.0K $6.84/SF
− Vacancy
−$2.2K −$0.20/SF
EGI
$72.8K $6.64/SF
− OpEx
−$25.5K −$2.32/SF
NOI
$47.3K $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%
$946,300
Cap Rate 7%
$675,929
Cap Rate 9%
$525,722
Alternative Uses
Best Use
Warehouse
$1.82M
$1.60M – $2.13M
NOI $127,658 @ 7.0% cap · market cap 17.04%
Second Best
Industrial
$1.50M
$1.31M – $1.75M
NOI $105,130 @ 7.0% cap · market cap 14.04%
Theoretical Best
Hotel Hospitality
$102.93M
$90.06M – $120.08M
NOI $7,204,801 @ 7.0% cap · market cap 961.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Explore this area
Business Placement
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 Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Metal-sided industrial facility with HVAC, substantial power infrastructure, and an active renovation to reconfigure the interior.
Where is this manufacturing property located?
The property is located at 3129 E Laketon Avenue Muskegon, MI.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 10,960‑square‑foot industrial building on 1.93 acres; Constructed in 2020 with metal siding and a metal roof; HVAC and power infrastructure suited to light industrial operations
