Former Pizza Hut Redevelopment
For Sale
Contact for pricing
4318 Grand Haven Road, Muskegon, MI 49441
Former Pizza Hut on a C-2 zoned site with strong frontage along Grand Haven Road.
Property Size2,165 SF
Lot Size0.54 Acres
Price / SF$161.62
Days on Market34
Property Features for 4318 Grand Haven Road
General Information
Standard status
Active
Size
2,165 SF
Lot size
0.54 Acres
Property subtype
Business for Sale, Retail
Zoning
C-2
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1972
Buildings
1
Units
1
Listing Agency:
The Shore Real Estate Group
(269) 757-2769
Listed By:
Josh Frazee · License #MI 6506049708
Source:
Crexi
Added: Jul 21
Changed: Aug 16
Last Checked: Aug 22 at 4:35PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Shore Real Estate Group
Investment Insights
Based on property information with market context.
The property is a former Pizza Hut storefront building offered for sale as a commercial redevelopment opportunity. The site totals 0.54 acres and includes an approximately 2,165-square-foot building, with existing utilities and ample on-site parking.
Located on Grand Haven Road in Norton Shores, the property is positioned just minutes from the US-31 freeway and I-96 interchange, providing convenient access for local and regional customers. The site is in a C-2 commercially zoned corridor and benefits from visibility along an established retail/business area.
The property offers flexibility for a range of commercial uses (subject to municipal approval), including restaurant, retail, office, medical, and service-oriented operations.
Located on Grand Haven Road in Norton Shores, the property is positioned just minutes from the US-31 freeway and I-96 interchange, providing convenient access for local and regional customers. The site is in a C-2 commercially zoned corridor and benefits from visibility along an established retail/business area.
The property offers flexibility for a range of commercial uses (subject to municipal approval), including restaurant, retail, office, medical, and service-oriented operations.
Key Highlights
- Former Pizza Hut with approximately 2,165 SF building on a 0.54‑acre C‑2 commercially zoned site
- Highly visible location with strong frontage along Grand Haven Road
- On‑site parking and existing utilities
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
$27,987
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
8.00%
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%
$559,740
$559.7K
Cap Rate 7%
$399,814
$399.8K
Cap Rate 9%
$310,967
$311.0K
Market Conditions
NOI Build-Up for 2,165 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
$41.0K $18.96/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$40.0K $18.47/SF
− OpEx
−$12.0K −$5.54/SF
NOI
$28.0K $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 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%
$559,740
Cap Rate 7%
$399,814
Cap Rate 9%
$310,967
Alternative Uses
Best Use
Retail
$399.8K
$349.8K – $466.5K
NOI $27,987 @ 7.0% cap · market cap 8.00%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$20.33M
$17.79M – $23.72M
NOI $1,423,211 @ 7.0% cap · market cap 406.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
24k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 75%
Dining 25%
BP
Shops & Services
7,450 visits/mo
0.1 miles
Family Dollar
Shops & Services
7,100 visits/mo
0.1 miles
Pizza Hut
Dining
4,392 visits/mo
0.1 miles
Shell
Shops & Services
3,738 visits/mo
0.1 miles
SUBWAY
Dining
1,626 visits/mo
0.1 miles
Demographics for 49441, MI
36,886
Population
16,491
Households
2.2
Avg Household Size
43
Median Age
28%
College-Educated
94%
High-School Grad
21.7 sq mi
ZIP Area
1,700
Density / Sq Mi
$65,235
Median Household Income
$38,132
Median Earnings
$1,080
Median Rent
$194,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- LeFleur Shoppe — 4210 Grand Haven Rd, Muskegon, MI 49441
Frequently Asked Questions
What type of property is this?
Storefront property - Former Pizza Hut on a C-2 zoned site with strong frontage along Grand Haven Road.
Where is this storefront property located?
The property is located at 4318 Grand Haven Road Muskegon, MI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Former Pizza Hut with approximately 2,165 SF building on a 0.54‑acre C‑2 commercially zoned site; Highly visible location with strong frontage along Grand Haven Road; On‑site parking and existing utilities
