5100 E Apple Avenue, Muskegon, MI 49442

Building Details

Building Size 8,000 SF More

Year Built 1998 More

Buildings 2 More

Stories 1 More

Listing Agency: RE/MAX West Show Phone

Listed By: Renee Kirksey Show Phone

Source: Moayyerrealestate

Added: Nov 5 Changed: Nov 6 Last Checked: Nov 6 at 3:22PM

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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 RE/MAX West

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Investment Insights

Based on property information with market context.

This flex property contains approximately 8,000 square feet across two buildings. The 3,200-square-foot original building, built in 1998, has office and retail space at the front and shop space behind it, with three overhead service doors. A 4,800-square-foot temperature-controlled pole building adds open interior area. The site is 1.13 acres and zoned C-2.

The property is located at 5100 E Apple Avenue in Muskegon. Site features include a well and paved areas.

Key Highlights

• Approximately 8,000 square feet across two buildings
• Original 3,200‑square‑foot building constructed in 1998
• 4,800‑square‑foot temperature‑controlled pole building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,537

Cap Rate

5.76%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$690,740 $690.7K

Cap Rate 7%

$493,386 $493.4K

Cap Rate 9%

$383,744 $383.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,000 SF

Gross rent

$54.7K $6.84/SF

− Vacancy

−$1.6K −$0.20/SF

EGI

$53.1K $6.64/SF

− OpEx

−$18.6K −$2.32/SF

NOI

$34.5K $4.32/SF

Area

Muskegon County, MI

Vacancy

2.90%

Lease Rate

$6.84 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$690,740

Cap Rate 7%

$493,386

Cap Rate 9%

$383,744

Alternative Uses

Best Use

Retail

$1.48M

$1.29M – $1.72M (±1% cap)

NOI $103,415 @ 7.0% cap · market cap 17.24%

Second Best

Warehouse

$1.33M

$1.16M – $1.55M (±1% cap)

NOI $93,181 @ 7.0% cap · market cap 15.53%

Theoretical Best

Hotel Hospitality

$75.13M

$65.74M – $87.65M (±1% cap)

NOI $5,258,979 @ 7.0% cap · market cap 876.50%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Hair Salon Building Supply Big Box & Wholesale Store Grocery & Convenience Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

79

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 49442, MI

45,342

Population

17,759

Households

2.6

Avg Household Size

37

Median Age

11%

College-Educated

87%

High-School Grad

41.0 sq mi

ZIP Area

1,106

Density / Sq Mi

$50,069

Median Household Income

$33,257

Median Earnings

$889

Median Rent

$116,100

Median Home Value

Market

Average Price Trend$/SF for Flex space in Muskegon, MI

$104 Jul

$103 Aug

$109 Sep

$111 Oct

Properties on Market for Flex space in Muskegon

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Front office and retail areas connect to rear shop space with three overhead service doors.

Where is this flex space located?

The property is located at 5100 E Apple Avenue Muskegon, MI.

What is the asking price?

The asking price for this property is $600,000.

What are key features of this property?

This property features: Approximately 8,000 square feet across two buildings; Original 3,200‑square‑foot building constructed in 1998; 4,800‑square‑foot temperature‑controlled pole building