Retail Center on Major
For Sale
Contact for pricing
518 North Beacon Boulevard, Grand Haven, MI 49417
40,428 SF shopping center with major-tenant mix and prominent US-31 corridor access in Grand Haven.
Property Size40,428 SF
Lot Size4.12 Acres
Price / SF$172.23
Days on Market58
Property Features for 518 North Beacon Boulevard
General Information
Standard status
Active
Size
40,428 SF
Lot size
4.12 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Net Operating Income
$470,000
Site & Location
Traffic Count
76,000 vehicles/day
Highway Access
Yes
Additional Details
Cap Rate
6.75%
Building Details
Tenancy
Multi
Listing Agency:
APEX Commercial Real Estate Advisors
(248) 702-0940
Listed By:
Sal Yaldo · License #6501443637
Source:
Crexi
Added: Jun 16
Changed: Aug 11
Last Checked: Aug 11 at 10:17AM
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 APEX Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
This trophy retail center totals 40,428 square feet on 4.12 acres and is anchored by a mix of national and regional tenants. The center’s tenant roster includes Dollar Tree, O’Reilly Auto Parts, Wingstop, Jet’s Pizza, and Walgreens. Walgreens is not included in the sale. The property is positioned as a concentrated retail offering along an established commercial corridor.
The center is located on North Beacon Boulevard (US-31/N Beacon Boulevard) in Grand Haven, Michigan. The location is noted for visibility to a highly trafficked corridor, with traffic counts exceeding 76,000 vehicles per day at the nearby intersection. The site also benefits from proximity to a major tourist destination, with more than 2.1 million annual visitors reported for the area.
For buyers, this asset provides a professionally managed retail format with an existing in-place tenant mix and a referenced 6.75% cap rate. Its concentration of everyday retail and quick-service concepts may support continued consumer draw from both local shoppers and seasonal visitors. The offering is structured for long-term hold given the stated proven operating history and cash flow focus within a dynamic lakeshore market.
The center is located on North Beacon Boulevard (US-31/N Beacon Boulevard) in Grand Haven, Michigan. The location is noted for visibility to a highly trafficked corridor, with traffic counts exceeding 76,000 vehicles per day at the nearby intersection. The site also benefits from proximity to a major tourist destination, with more than 2.1 million annual visitors reported for the area.
For buyers, this asset provides a professionally managed retail format with an existing in-place tenant mix and a referenced 6.75% cap rate. Its concentration of everyday retail and quick-service concepts may support continued consumer draw from both local shoppers and seasonal visitors. The offering is structured for long-term hold given the stated proven operating history and cash flow focus within a dynamic lakeshore market.
Key Highlights
- 40,428‑SF trophy retail center on 4.12 acres in Grand Haven, MI
- Strategically located along the US‑31/N Beacon Blvd corridor with access to a highly trafficked intersection
- Traffic counts exceeding 76,000 vehicles per day at the nearby intersection
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
$419,679
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
6.03%
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%
$8,393,580
$8.4M
Cap Rate 7%
$5,995,414
$6.0M
Cap Rate 9%
$4,663,100
$4.7M
Market Conditions
NOI Build-Up for 40,428 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
$625.8K $15.48/SF
− Vacancy
−$26.3K −$0.65/SF
EGI
$599.5K $14.83/SF
− OpEx
−$179.9K −$4.45/SF
NOI
$419.7K $10.38/SF
Area
Ottawa County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$8,393,580
Cap Rate 7%
$5,995,414
Cap Rate 9%
$4,663,100
Alternative Uses
Best Use
Retail
$6.00M
$5.25M – $6.99M
NOI $419,679 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$502.73M
$439.89M – $586.52M
NOI $35,191,320 @ 7.0% cap · market cap 505.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
76,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
176k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 26%
Home Improvements & Furnishings 15%
Office Supplies 5%
The Home Depot
Home Improvements & Furnishings
25,975 visits/mo
0.3 miles
Culver's
Dining
23,196 visits/mo
0.4 miles
Starbucks
Dining
13,210 visits/mo
0.3 miles
Dollar Tree
Shops & Services
12,376 visits/mo
0.4 miles
Wendy's
Dining
12,171 visits/mo
0.3 miles
Demographics for 49417, MI
32,406
Population
14,709
Households
2.2
Avg Household Size
43
Median Age
38%
College-Educated
95%
High-School Grad
46.9 sq mi
ZIP Area
691
Density / Sq Mi
$84,476
Median Household Income
$45,392
Median Earnings
$1,101
Median Rent
$287,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - 40,428 SF shopping center with major-tenant mix and prominent US-31 corridor access in Grand Haven.
Where is this shopping center located?
The property is located at 518 North Beacon Boulevard Grand Haven, MI.
What is the asking price?
The asking price for this property is $6,962,963.
What are key features of this property?
This property features: 40,428‑SF trophy retail center on 4.12 acres in Grand Haven, MI; Strategically located along the US‑31/N Beacon Blvd corridor with access to a highly trafficked intersection; Traffic counts exceeding 76,000 vehicles per day at the nearby intersection
