Restaurant Property with C-2
For Sale
Under Contract
$349,900
4318 Grand Haven Road, Muskegon, MI 49441
Commercial Sale, Muskegon, MI
Property Size2,165 SF
Lot Size0.54 Acres
Price / SF$161.62
Days on Market49
Property Features for 4318 Grand Haven Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Misc Com Svcs
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Subdivision
Mccombs
Elementary school district
Mona Shores
Middle school district
Mona Shores
High school district
Mona Shores
Directions
Airport Rd to Grand Haven Rd to listing
Standard status
Active Under Contract
APN
27-601-000-0063-00
Size
2,165 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CITY OF NORTON SHORES MC CO MBS NO 1 LOTS 63 AND 65
Tax Annual Amount
6754
Legal Description
CITY OF NORTON SHORES MC CO MBS NO 1 LOTS 63 AND 65
Utilities
Utilities
Electricity Available
Heating system
Forced Air
Cooling system
Central Air
Amenities
on-site parking
Building Details
Year built
1972
Number of units
1
Listing Agency:
The Shore Real Estate Group
(269) 921-7261
Listed By:
Josh Frazee · License #6506049708
(269) 757-2769
Added: Jul 21
Changed: Aug 23
Last Checked: Sep 7 at 11:06AM
MLS# 26037532
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.
This former Pizza Hut property includes approximately 2,165 square feet on a 0.54-acre commercially zoned site. The building was constructed in 1972 and includes two bathrooms, forced-air heating, and central air conditioning. Existing restaurant improvements provide a foundation for continued food-service use or another approved commercial application.
Located on Grand Haven Road, the property offers frontage along a visible commercial corridor with on-site parking and electricity available. The site is positioned minutes from the US-31 freeway and the I-96 interchange, providing access for customers and operators. C-2 zoning supports a range of commercial possibilities, subject to municipal approval.
Located on Grand Haven Road, the property offers frontage along a visible commercial corridor with on-site parking and electricity available. The site is positioned minutes from the US-31 freeway and the I-96 interchange, providing access for customers and operators. C-2 zoning supports a range of commercial possibilities, subject to municipal approval.
Key Highlights
- 2,165‑square‑foot former Pizza Hut restaurant building
- 0.54‑acre C‑2 commercially zoned site
- Frontage along Grand Haven Road
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
Specialty Retail
$344.0K
$301.0K – $401.3K
NOI $24,080 @ 7.0% cap · market cap 6.88%
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
Property Profile
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Former restaurant facility with commercial zoning, on-site parking, and access to existing electrical service.
Where is this conventional restaurant 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: 2,165‑square‑foot former Pizza Hut restaurant building; 0.54‑acre C‑2 commercially zoned site; Frontage along Grand Haven Road
