Retail Space for Beer &
For Sale
$249,900
793 W Laketon Avenue, Muskegon, MI 49441
For-sale retail space on Laketon Ave in Muskegon with seller-advanced beer and wine licensing and city-repriced plans.
Property Size1,248 SF
Price / SF$200.24
Days on Market184
Property Features for 793 W Laketon Avenue
General Information
Standard status
Active
Size
1,248 SF
Property subtype
Business Opportunities
Additional Details
Liquor License
Yes
Amenities
3
11091
Building Details
Year Built
1995
Listing Agency:
Nexes
(231) 578-0585
Listed By:
Greenridge
(231) 578-0585
Source:
Xome
Added: Feb 20
Changed: Aug 12
Last Checked: Aug 23 at 2:55AM
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 Nexes
Investment Insights
Based on property information with market context.
This for-sale retail space at 793 W Laketon Avenue in Muskegon is positioned for high visibility along Laketon Ave and is set up for conversion to a neighborhood beer and wine store. The sellers have completed much of the groundwork, including securing the beer and wine license process, and buyers can focus on the remaining finishing touches to bring the space to the finish line.
Building plans have also been repriced by the City for the proposed addition, providing clarity and momentum as the project moves forward. Buyer and buyer’s agent to verify all information.
Building plans have also been repriced by the City for the proposed addition, providing clarity and momentum as the project moves forward. Buyer and buyer’s agent to verify all information.
Key Highlights
- For‑sale retail space at 793 W Laketon Ave in Muskegon along Laketon Ave.
- Seller has completed the beer and wine license process for the proposed store.
- City‑repriced building plans are available for a proposed addition.
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
$16,133
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
6.46%
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%
$322,660
$322.7K
Cap Rate 7%
$230,471
$230.5K
Cap Rate 9%
$179,256
$179.3K
Market Conditions
NOI Build-Up for 1,248 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
$23.7K $18.96/SF
− Vacancy
−$615 −$0.49/SF
EGI
$23.0K $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%
$322,660
Cap Rate 7%
$230,471
Cap Rate 9%
$179,256
Alternative Uses
Best Use
Retail
$230.5K
$201.7K – $268.9K
NOI $16,133 @ 7.0% cap · market cap 6.46%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$11.72M
$10.26M – $13.67M
NOI $820,401 @ 7.0% cap · market cap 328.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
35k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Wesco
Shops & Services
18,321 visits/mo
0.4 miles
Dollar General
Shops & Services
8,492 visits/mo
0.4 miles
Marathon
Shops & Services
4,376 visits/mo
0.1 miles
Marathon
Shops & Services
3,495 visits/mo
0.5 miles
Demographics for 49441, MI
36,886
Population
16,491
Households
2.2
Avg Household Size
43
Median Age
28%
College-Educated
94%
High-School Grad
21.7 sq mi
ZIP Area
1,700
Density / Sq Mi
$65,235
Median Household Income
$38,132
Median Earnings
$1,080
Median Rent
$194,000
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?
Retail space - For-sale retail space on Laketon Ave in Muskegon with seller-advanced beer and wine licensing and city-repriced plans.
Where is this retail space located?
The property is located at 793 W Laketon Avenue Muskegon, MI.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: For‑sale retail space at 793 W Laketon Ave in Muskegon along Laketon Ave.; Seller has completed the beer and wine license process for the proposed store.; City‑repriced building plans are available for a proposed addition.
