Downtown Muskegon Commercial/Office
380 W Western Avenue, Muskegon, MI 49440
COMMERCIAL - Muskegon, MI
Type:Office
Property size:
6,379 SFLot size:
0.17 AcresPrice / SF:
$174/SF- Added:
- Jul 31, 2023
- Days on Market:
- 1028
- Last Refresh:
- May 23 at 6:06 am
Property Features for 380 W Western Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Bathrooms
- 4
- Rooms
- Bathroom 4, Bathroom 1, Bathroom 2, Bathroom 3
- Interior features
- Broadband
- Standard status
- Active
- APN
- 24-432-000-0002-00
- Size
- 6,379 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Year
- 2022
- Tax Description
- CITY OF MUSKEGON HINES BUILDING CONDOMINIUM UNIT 2 SBJT TO ESMNT FOR OVERHEAD/UNDERGROUND ELECTRIC LNS RECOR'D 3724/
- Tax Annual Amount
- 21718
Utilities
- Utilities
- Cable Available
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 2008
- Floors in Building
- 1
- Number of units
- 1
- Building materials
- Brick, Stone
Listing agent David Ten Cate License #6502325769 (616) 847-1031
Listing office Capstone Real Estate LLC PO Box 261, Grand Haven, MI (616) 847-1031
Listing date Jul 31, 2023
MLS# 23027583
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.
HighLights
- Prime downtown Muskegon location in the Hines Building/Chamber of Commerce Building.
- Total of 6,379 SF, currently separated into two suites: a 2,480 SF retail space leased by Subway and a 3,900 SF commercial office suite.
- Commercial suite features 8 private windowed offices, large conference room, reception area, and open‑concept workspace.
- Corner location with excellent visibility and convenient client access.
- Desirable walkability to restaurants, shopping, and waterfront activities.
- Built in 2008 with modern amenities including central air, forced air heating, and ADA restrooms.
Overview
Located in downtown Muskegon, this main-floor commercial/office condominium is situated in the Hines Building/Chamber of Commerce Building. Unit 2 offers a total of 6,379 square feet, divided into a commercial office suite and a retail suite. A Subway restaurant occupies approximately 2,480 square feet of retail space, while a law firm leases the remaining 3,900 square feet. The 3,900-square-foot commercial suite includes 8 private windowed offices, a vestibule, a large reception area, an open-concept multi-user "bullpen", a large conference room, a kitchenette, 2 ADA restrooms, a janitor's closet, and a large supply/file room. This corner location provides client access, visibility, and walkability to restaurants, shopping, and waterfront activities. The property is situated on a lot of approximately 0.17 acres.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$916.2K
NOI $82,461 @ 9.00% cap · cautious / downside scenario
Moderate
$1.18M
NOI $82,461 @ 7.00% cap · market / base-case scenario
Aggressive
$1.65M
NOI $82,461 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $120.9k | $18.96 |
| − Vacancy | −$3.1k | −$0.49 |
| EGI | $117.8k | $18.47 |
| − OpEx | −$35.3k | −$5.54 |
| NOI | $82.5k | $12.93 |
6,379 SF · lease $18.96/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$1.18M
$1.03M – $1.37M
NOI $82,461 @ 7.0% cap · market cap 7.40%
Second Best
Office B
$1.00M
$878.4K – $1.17M
NOI $70,273 @ 7.0% cap · market cap 6.30%
Theoretical Best
Hotel Hospitality
$59.91M
$52.42M – $69.89M
NOI $4,193,378 @ 7.0% cap · market cap 376.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Location Insight
- Map
- Local Demand
- City
- Muskegon
- County
- Muskegon
- State
- Michigan
- Longitude
- -86.2529819
- Latitude
- 43.2358258
Nearby Similar for Sale
FAQs
What type of property is this?
Office units - Main-floor condo in Hines Building with office and retail suites.
Where is this office units located?
The property is located at 380 W Western Avenue Muskegon, MI.
What is the asking price?
The asking price for this property is $1,115,000.
What are key features of this property?
This property features: Prime downtown Muskegon location in the Hines Building/Chamber of Commerce Building.; Total of 6,379 SF, currently separated into two suites: a 2,480 SF retail space leased by Subway and a 3,900 SF commercial office suite.; Commercial suite features **8 private windowed offices**, large conference room, reception area, and open‑concept workspace.
