Beer and Wine Convenience
For Sale
$249,900
793 W Laketon Avenue, Muskegon, MI 49441
City-repriced plans support a proposed building addition.
Property Size1,248 SF
Price / SF$200.24
Days on Market12
Property Features for 793 W Laketon Avenue
General Information
Standard status
Active
Size
1,248 SF
Taxes and HOA fees
Annual Taxes
$4,327
Amenities
true
1
1248
Broadband
Non-Applicable
0.23
15
110 x 91
false
Paved
Building Details
Building Size
1,248 SF
Year Built
1995
Stories
1248
Listing Agency:
(616) 402-4115
Listed By:
Dan Hendrick
(616) 842-5970
Source:
Danhendrick.clydehendrickrealtors
Added: Oct 19
Changed: Oct 28
Last Checked: Oct 28 at 4:16PM
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 Dan Hendrick
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 1,248-square-foot building was constructed in 1995 and sits on a 0.23-acre lot at 793 W Laketon Avenue in Muskegon. The property requires further build-out before opening as a beer and wine store.
The beer and wine licensing process has been completed, and plans for a proposed addition have been repriced by the City.
The beer and wine licensing process has been completed, and plans for a proposed addition have been repriced by the City.
Key Highlights
- 1,248‑square‑foot building
- 0.23‑acre lot
- Built in 1995
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,133
Cap Rate
6.46%
Suggested Prices Based on Cap Rates
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
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 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
Specialty Retail
$198.3K
$173.5K – $231.4K
NOI $13,881 @ 7.0% cap · market cap 5.55%
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
35k
Monthly Visits Nearby
Under-served
Demand for This Use
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
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
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - City-repriced plans support a proposed building addition.
Where is this grocery and convenience store 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: 1,248‑square‑foot building; 0.23‑acre lot; Built in 1995
