Storefront Property with Restaurant
For Sale
$175,000
5706 Whitehall Rd, Whitehall, MI 49461
NC-zoned commercial site near Michigan’s Adventure with existing restaurant infrastructure.
Property Size1,242 SF
Price / SF$140.90
Days on Market126
Property Features for 5706 Whitehall Rd
General Information
Standard status
Active
Size
1,242 SF
Total Parking Spaces
10
Property subtype
Retail
Zoning
NC
Amenities
Vacant
10 Parking Spaces
Listing Agency:
Blu House Properties brokered by EXP Realty
(616) 862-1713
Listed By:
Duke Gray
(616) 862-1713
Source:
Carwm.resimplifi
Added: Apr 30
Changed: Aug 30
Last Checked: Sep 1 at 3:12PM
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 Blu House Properties brokered by EXP Realty
Investment Insights
Based on property information with market context.
This storefront property at 5706 Whitehall Rd includes existing restaurant infrastructure and is positioned for retail or restaurant use. The site is identified as a potential redevelopment property, with commercial or mixed-use repositioning described as an additional possibility. Residential development is also noted as a potential use.
The Whitehall location is near Michigan’s Adventure, a regional amusement park with more than 60 rides and attractions. The property is also described as being near Lake Michigan attractions and major travel corridors, placing it within a setting that serves both seasonal visitors and local customers. Zoning is NC.
The Whitehall location is near Michigan’s Adventure, a regional amusement park with more than 60 rides and attractions. The property is also described as being near Lake Michigan attractions and major travel corridors, placing it within a setting that serves both seasonal visitors and local customers. Zoning is NC.
Key Highlights
- Existing restaurant infrastructure supports retail or restaurant use
- NC zoning
- Near Michigan’s Adventure, which features 60+ rides and attractions
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
$16,055
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
9.17%
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%
$321,100
$321.1K
Cap Rate 7%
$229,357
$229.4K
Cap Rate 9%
$178,389
$178.4K
Market Conditions
NOI Build-Up for 1,242 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
$23.5K $18.96/SF
− Vacancy
−$612 −$0.49/SF
EGI
$22.9K $18.47/SF
− OpEx
−$6.9K −$5.54/SF
NOI
$16.1K $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%
$321,100
Cap Rate 7%
$229,357
Cap Rate 9%
$178,389
Alternative Uses
Best Use
Retail
$229.4K
$200.7K – $267.6K
NOI $16,055 @ 7.0% cap · market cap 9.17%
Second Best
Specialty Retail
$197.3K
$172.7K – $230.2K
NOI $13,814 @ 7.0% cap · market cap 7.89%
Theoretical Best
Hotel Hospitality
$11.66M
$10.21M – $13.61M
NOI $816,456 @ 7.0% cap · market cap 466.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49461, MI
9,295
Population
4,220
Households
2.2
Avg Household Size
47
Median Age
30%
College-Educated
97%
High-School Grad
43.2 sq mi
ZIP Area
215
Density / Sq Mi
$80,495
Median Household Income
$42,249
Median Earnings
$874
Median Rent
$245,600
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?
Storefront property - NC-zoned commercial site near Michigan’s Adventure with existing restaurant infrastructure.
Where is this storefront property located?
The property is located at 5706 Whitehall Rd Whitehall, MI.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Existing restaurant infrastructure supports retail or restaurant use; NC zoning; Near Michigan’s Adventure, which features 60+ rides and attractions
