Downtown Office Condominium
380 W Western Avenue Muskegon, MI 49440
For Sale
$415,000
COMMERCIAL - Muskegon, MI
Property Size2,335 SF
Lot Size0.08 Acres
Price / SF$177.73
Days on Market1092
Property Features for 380 W Western Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2
- Standard status
- Active
- APN
- 24-432-000-0001-00
- Size
- 2,335 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Year
- 2022
- Tax Description
- CITY OF MUSKEGON HINES BUILDING CONDOMINIUM UNIT 1 SBJT TO ESMNT FOR OVERHEAD/UNDERGROUND ELECTRIC LNS RECOR'D 3724/
- Tax Annual Amount
- 8033
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 Agency:
Capstone Real Estate LLC
(616) 847-1031
Listed By:
David Ten Cate · License #6502325769
(616) 847-1031
Added: Jul 31, 2023
Changed: Jul 25
Last Checked: Jul 26 at 11:06AM
MLS# 23027569
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.
Main-floor office condominium suite located in the Hines Building (Chamber of Commerce Building). The space is configured with an open floor plan with high ceilings and large windows, along with five private offices and two centrally-located workstations. Additional improvements include a conference room, reception area, kitchen, and two ADA restrooms.
The suite is in the heart of downtown Muskegon and is described as walkable to restaurants, shopping, and waterfront activities, supporting client-accessible operations.
The offering is a 2,335-square-foot professional suite designed for a workplace layout that balances collaborative open space with dedicated private offices and a conference room.
The suite is in the heart of downtown Muskegon and is described as walkable to restaurants, shopping, and waterfront activities, supporting client-accessible operations.
The offering is a 2,335-square-foot professional suite designed for a workplace layout that balances collaborative open space with dedicated private offices and a conference room.
Key Highlights
- Prime downtown Muskegon location in the Hines Building (Chamber of Commerce Building).
- 2,335 SF professional suite features an open floor plan, high ceilings, and large windows.
- Includes five private offices, a conference room, reception area, and kitchen.
Financial Insights For Office B
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 | $39.8k | $17.04 |
| − Vacancy | −$5.5k | −$2.35 |
| EGI | $34.3k | $14.69 |
| − OpEx | −$8.6k | −$3.67 |
| NOI | $25.7k | $11.02 |
2,335 SF · lease $17.04/SF/yr · vacancy 13.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$367.5K
$321.5K – $428.7K
NOI $25,723 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$21.93M
$19.19M – $25.58M
NOI $1,534,964 @ 7.0% cap · market cap 369.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
FAQs
What type of property is this?
Office units - Main-floor professional suite in the Hines Building with private offices, conference room, reception, and ADA restrooms.
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 $415,000.
What are key features of this property?
This property features: Prime downtown Muskegon location in the Hines Building (Chamber of Commerce Building).; 2,335 SF professional suite features an open floor plan, high ceilings, and large windows.; Includes five private offices, a conference room, reception area, and kitchen.
