Mixed-Use Building with Central
New
For Sale
$399,900
6908 E Apple Ave, Muskegon, MI 49442
Flexible commercial property with central air and potential for retail, restaurant, office, or light manufacturing use.
Property Size2,400 SF
Lot Size10.00 Acres
Price / SF$166.63
Days on Market6
Property Features for 6908 E Apple Ave
General Information
Standard status
Active
Size
2,400 SF
Lot size
10.00 Acres
Amenities
central air
Building Details
Year Built
1995
Buildings
1
Listing Agency:
Greenridge - Nexes
Listed By:
Brock Edward Carlston, William E Carlston
Source:
Katie-k
Added: Sep 20
Last Checked: Sep 24 at 12:28PM
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 Greenridge - Nexes
Investment Insights
Based on property information with market context.
Built in 1995, this 2,400-square-foot mixed-use building sits on a 10-acre parcel and includes central air. The property has been identified for potential bar, restaurant, professional office, retail, and light manufacturing applications, with room described for expansion or outdoor operations.
Located at 6908 E Apple Ave in Muskegon, Michigan, the property offers visibility and access along a commercial corridor. Parking potential is noted, providing additional flexibility for future business operations.
Located at 6908 E Apple Ave in Muskegon, Michigan, the property offers visibility and access along a commercial corridor. Parking potential is noted, providing additional flexibility for future business operations.
Key Highlights
- 2,400‑square‑foot building on a 10‑acre parcel
- Built in 1995
- Central air included
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
$31,025
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
7.76%
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%
$620,500
$620.5K
Cap Rate 7%
$443,214
$443.2K
Cap Rate 9%
$344,722
$344.7K
Market Conditions
NOI Build-Up for 2,400 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
$45.5K $18.96/SF
− Vacancy
−$1.2K −$0.49/SF
EGI
$44.3K $18.47/SF
− OpEx
−$13.3K −$5.54/SF
NOI
$31.0K $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%
$620,500
Cap Rate 7%
$443,214
Cap Rate 9%
$344,722
Alternative Uses
Best Use
Retail
$443.2K
$387.8K – $517.1K
NOI $31,025 @ 7.0% cap · market cap 7.76%
Second Best
Specialty Retail
$381.3K
$333.7K – $444.9K
NOI $26,694 @ 7.0% cap · market cap 6.68%
Theoretical Best
Hotel Hospitality
$22.54M
$19.72M – $26.29M
NOI $1,577,694 @ 7.0% cap · market cap 394.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 88%
Dining 12%
Mobil
Shops & Services
10,557 visits/mo
0.4 miles
Little Caesars Pizza
Dining
1,513 visits/mo
0.4 miles
Marathon Petroleum
Shops & Services
335 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial property with central air and potential for retail, restaurant, office, or light manufacturing use.
Where is this mixed-use property located?
The property is located at 6908 E Apple Ave Muskegon, MI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 2,400‑square‑foot building on a 10‑acre parcel; Built in 1995; Central air included
