Storefront Building with
New
For Sale
$399,900
6908 E Apple Avenue, Muskegon, MI 49442
Commercial Sale, Muskegon, MI
Property Size2,400 SF
Lot Size10.00 Acres
Price / SF$166.63
Days on Market2
Property Features for 6908 E Apple Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C1/C2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
50
Elementary school district
Oakridge
Middle school district
Oakridge
High school district
Oakridge
Standard status
Active
APN
11-022-400-0017-00
Size
2,400 SF
Lot size
10.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
E-435-A EGELSTON TOWNSHIP W 330 FT OF E 1/2 OF SW 1/4 OF SE 1/4 EXC S 50 FT. SEC 22 T10N R15W.
Tax Annual Amount
5760
Legal Description
E-435-A EGELSTON TOWNSHIP W 330 FT OF E 1/2 OF SW 1/4 OF SE 1/4 EXC S 50 FT. SEC 22 T10N R15W.
Utilities
Utilities
Natural Gas Available
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Water source
Well
Amenities
central air
Building Details
Year built
1995
Number of units
1
Building materials
Block
Roof type
Composition
Listing Agency:
Greenridge - Nexes
(231) 739-3501
Listed By:
Brock Edward Carlston · License #6501370180
(231) 578-0556
Added: Sep 9
Last Checked: Sep 10 at 3:06AM
MLS# 26047851
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 storefront property includes a 2,400-square-foot commercial building on 10 acres at 6908 E Apple Avenue in Muskegon, Michigan. Built in 1995, the structure uses block construction and has a composition roof, forced-air heating, and central air conditioning. The interior includes a bathroom, while the larger parcel provides additional land area for parking, expansion, or outdoor operations as described in the property information.
Utilities include natural gas availability, a private well, and a septic tank. The property is located in Muskegon County and is identified with the 49442 postal code. The combination of an existing commercial structure and substantial land area creates a straightforward storefront configuration with supporting site capacity.
Utilities include natural gas availability, a private well, and a septic tank. The property is located in Muskegon County and is identified with the 49442 postal code. The combination of an existing commercial structure and substantial land area creates a straightforward storefront configuration with supporting site capacity.
Key Highlights
- 2,400‑square‑foot storefront building on 10 acres
- Block construction with a composition roof
- Built in 1995
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
—
—
no second resolved use
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
Well-served
Demand for This Use
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
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Block construction with central air, natural gas availability, well water, and septic service supports the existing commercial building.
Where is this storefront property located?
The property is located at 6908 E Apple Avenue 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 storefront building on 10 acres; Block construction with a composition roof; Built in 1995
