Downtown Office-Retail
380 W Western Avenue Muskegon, MI 49440
For Sale
$1,115,000
COMMERCIAL - Muskegon, MI
Property Size6,379 SF
Lot Size0.17 Acres
Price / SF$174.79
Days on Market1092
Property Features for 380 W Western Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bathroom 3, Bathroom 4, Bathroom 2
- 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 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 12:06PM
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.
Investment Insights
Based on property information with market context.
Main-floor commercial/office condominium located in the Hines Building / Chamber of Commerce Building. The unit is currently separated into one commercial office suite and one retail suite. The retail portion is occupied by Subway and totals approximately 2,480 SF. The remaining 3,900 SF commercial office suite includes eight private windowed offices, a vestibule, a large reception area, an open-concept multi-user bullpen, a large conference room, and a kitchenette. Additional improvements include two ADA restrooms, a janitor’s closet, and a large supply/file room.
Situated in downtown Muskegon as a corner location, the unit offers convenient client access and visibility, with walkability to restaurants, shopping, and waterfront activities.
This offering presents a turnkey, professionally configured space with dedicated areas for both office and retail use within the same condominium unit.
Situated in downtown Muskegon as a corner location, the unit offers convenient client access and visibility, with walkability to restaurants, shopping, and waterfront activities.
This offering presents a turnkey, professionally configured space with dedicated areas for both office and retail use within the same condominium unit.
Key Highlights
- Main‑floor downtown Muskegon commercial/office condo in the Hines Building/Chamber of Commerce Building
- Unit 2 totals 6,379 SF with one commercial office suite plus one retail suite
- Retail suite is occupied by Subway and includes approximately 2,480 SF
Financial Insights For Retail
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 | $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 Uses
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 Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
FAQs
What type of property is this?
Office units - Main-floor corner unit in the Hines/Chamber of Commerce building with a split layout for office and retail.
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: Main‑floor downtown Muskegon commercial/office condo in the Hines Building/Chamber of Commerce Building; Unit 2 totals 6,379 SF with one commercial office suite plus one retail suite; Retail suite is occupied by Subway and includes approximately 2,480 SF
