Warehouse Flex Space with
For Sale
$299,900
3711 E Apple Avenue, Muskegon, MI 49442
COMMERCIAL - Muskegon, MI
Property Size6,300 SF
Lot Size0.72 Acres
Price / SF$47.60
Days on Market115
Property Features for 3711 E Apple Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C-1
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
Directions
Using 31, exit East onto E Apple Ave. Property is on the right after S Mill Iron Rd.
Standard status
Active
APN
10-025-200-0006-00
Size
6,300 SF
Lot size
0.72 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MUSKEGON CHARTER TOWNSHIP SEC 25 T10N R16W MU-620D, F; THE W 6 3/4 RODS, OF E 41 3/4 RODS OF N 1/4, OF NW 1/4, NE 1/4
Tax Annual Amount
6058
Legal Description
MUSKEGON CHARTER TOWNSHIP SEC 25 T10N R16W MU-620D, F; THE W 6 3/4 RODS, OF E 41 3/4 RODS OF N 1/4, OF NW 1/4, NE 1/4
Utilities
Utilities
Cable Available
Heating system
Forced Air
Water source
Well
Building Details
Year built
1950
Number of units
1
Building materials
Block
Listing Agency:
Legacy Real Estate Partners
(616) 402-3595
Listed By:
Jay Kilgo · License #6504431414
(231) 327-5332
Added: Apr 29
Changed: Aug 4
Last Checked: Aug 21 at 5:06PM
MLS# 26018556
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.
For sale is a 6,300-square-foot warehouse flex space on a 0.72-acre lot at 3711 E Apple Avenue in Muskegon. The interior features soaring 16-foot ceilings with a wide-open layout, complemented by front office space. The rear area is laid out with room for refrigeration or expanded operations, providing flexibility for different commercial uses.
Access and loading are supported by two overhead doors and drive-through capability. The property sits on M-46 and includes additional outdoor area on the 0.71-acre parcel footprint measuring approximately 111 by 279.
This configuration offers an adaptable mix of office frontage and open warehouse space, backed by straightforward drive-through and overhead-door service for moving equipment, supplies, or product.
Access and loading are supported by two overhead doors and drive-through capability. The property sits on M-46 and includes additional outdoor area on the 0.71-acre parcel footprint measuring approximately 111 by 279.
This configuration offers an adaptable mix of office frontage and open warehouse space, backed by straightforward drive-through and overhead-door service for moving equipment, supplies, or product.
Key Highlights
- 6,300 sq ft commercial space on M‑46
- 0.71‑acre lot (111x279) with drive‑through capability
- 16‑ft ceilings and a wide‑open layout with front office space
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
$27,198
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
9.07%
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%
$543,960
$544.0K
Cap Rate 7%
$388,543
$388.5K
Cap Rate 9%
$302,200
$302.2K
Market Conditions
NOI Build-Up for 6,300 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
$43.1K $6.84/SF
− Vacancy
−$1.2K −$0.20/SF
EGI
$41.8K $6.64/SF
− OpEx
−$14.6K −$2.32/SF
NOI
$27.2K $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%
$543,960
Cap Rate 7%
$388,543
Cap Rate 9%
$302,200
Alternative Uses
Best Use
Industrial
$863.3K
$755.4K – $1.01M
NOI $60,430 @ 7.0% cap · market cap 20.15%
Second Best
Flex RnD
$388.5K
$340.0K – $453.3K
NOI $27,198 @ 7.0% cap · market cap 9.07%
Theoretical Best
Hotel Hospitality
$59.16M
$51.77M – $69.02M
NOI $4,141,446 @ 7.0% cap · market cap 1,380.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - 6,300 sq ft flex warehouse on a 0.72-acre lot with 16-ft ceilings, two overhead doors, and drive-through capability.
Where is this flex space located?
The property is located at 3711 E Apple Avenue Muskegon, MI.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 6,300 sq ft commercial space on M‑46; 0.71‑acre lot (111x279) with drive‑through capability; 16‑ft ceilings and a wide‑open layout with front office space
