Commercial Land with
New
For Sale
$449,900
3843 Russell Road, Muskegon, MI 49445
Commercial Sale, Muskegon, MI
Property Size1,536 SF
Lot Size9.94 Acres
Price / SF$292.90
Days on Market1
Property Features for 3843 Russell Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Elementary school district
Reeths-Puffer
Middle school district
Reeths-Puffer
High school district
Reeths-Puffer
Directions
U.S. 31 North To Russell Rd Exit Then Right
Standard status
Active
APN
07-020-400-0010-10
Size
1,536 SF
Lot size
9.94 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
*Please see attached legal description.
Tax Annual Amount
3012
Legal Description
*Please see attached legal description.
Utilities
Utilities
Electricity Available
Sewer type
Septic Tank
Heating system
Radiant
Water source
Well
Water front features
Pond
Water front
1
Building Details
Year built
1994
Number of units
1
Listing Agency:
RE/MAX Lakeshore · RE/MAX International
(616) 935-1150
Listed By:
Sandi L Gentry
(616) 638-3900
Added: Oct 19
Last Checked: Oct 19 at 5:06PM
MLS# 26055592
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.
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Investment Insights
Based on property information with market context.
This 9.94-acre commercial property at 3843 Russell Road includes a 1,536-square-foot building constructed in 1994. The building has radiant heat, two bathrooms, and a pond is among the property’s waterfront features. Water is supplied by a well, and the site uses a septic tank; electricity is available.
The property is near the US-31 and Russell Road intersection in Muskegon, Michigan.
The property is near the US-31 and Russell Road intersection in Muskegon, Michigan.
Key Highlights
- 9.94‑acre commercial parcel
- Existing 1,536‑square‑foot building, built in 1994
- Pond on the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,856
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$397,120
$397.1K
Cap Rate 7%
$283,657
$283.7K
Cap Rate 9%
$220,622
$220.6K
Market Conditions
NOI Build-Up for 1,536 SF
Gross rent
$29.1K $18.96/SF
− Vacancy
−$757 −$0.49/SF
EGI
$28.4K $18.47/SF
− OpEx
−$8.5K −$5.54/SF
NOI
$19.9K $12.93/SF
Area
Muskegon County, MI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$397,120
Cap Rate 7%
$283,657
Cap Rate 9%
$220,622
Alternative Uses
Best Use
Retail
$283.7K
$248.2K – $330.9K
NOI $19,856 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$14.42M
$12.62M – $16.83M
NOI $1,009,724 @ 7.0% cap · market cap 224.43%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 49445, MI
21,245
Population
9,109
Households
2.3
Avg Household Size
43
Median Age
29%
College-Educated
96%
High-School Grad
61.1 sq mi
ZIP Area
348
Density / Sq Mi
$80,514
Median Household Income
$45,874
Median Earnings
$1,163
Median Rent
$209,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Commercial land - The parcel includes an existing building, well water, septic service, and electricity availability.
Where is this commercial land located?
The property is located at 3843 Russell Road Muskegon, MI.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 9.94‑acre commercial parcel; Existing 1,536‑square‑foot building, built in 1994; Pond on the property
