Convenience Store
For Sale
$249,900
793 W Laketon Avenue, Muskegon, MI 49441
COMMERCIAL - Muskegon, MI
Property Size1,248 SF
Lot Size0.23 Acres
Price / SF$200.24
Days on Market177
Property Features for 793 W Laketon Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
15
Interior features
Broadband
Elementary school district
Muskegon
Middle school district
Muskegon
High school district
Muskegon
Directions
Business 31 to Laketon West.
Standard status
Active
APN
24-131-100-0001-00
Size
1,248 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CITY OF MUSKEGON SEC 31 T10N R16W PARCEL 1 GLENCOE ADD LOT 1 BLK 1 PARCEL 2
Tax Annual Amount
4327
Legal Description
CITY OF MUSKEGON SEC 31 T10N R16W PARCEL 1 GLENCOE ADD LOT 1 BLK 1 PARCEL 2
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1995
Number of units
1
Listing Agency:
Greenridge - Nexes
(231) 739-3501
Listed By:
Thomas Blake · License #6501276618
(231) 578-0585
Added: Feb 27
Changed: Aug 4
Last Checked: Aug 23 at 12:06PM
MLS# 26007280
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 1,248-square-foot commercial building sits on a 0.23-acre parcel at 793 W Laketon Avenue in Muskegon. Constructed in 1995, the property includes a bathroom and requires final finishing work before opening. Central air, forced-air heat, broadband, and available cable service are among the existing features.
The sellers have completed work related to the beer-and-wine licensing process for the proposed store concept. Building plans for a proposed addition have also been repriced by the City, giving a future owner a defined basis for completing the planned improvements. The property is positioned along Laketon Avenue and is offered as a retail-oriented building with an existing path toward a neighborhood beer-and-wine store.
The sellers have completed work related to the beer-and-wine licensing process for the proposed store concept. Building plans for a proposed addition have also been repriced by the City, giving a future owner a defined basis for completing the planned improvements. The property is positioned along Laketon Avenue and is offered as a retail-oriented building with an existing path toward a neighborhood beer-and-wine store.
Key Highlights
- 1,248‑square‑foot commercial building on 0.23 acres
- Beer‑and‑wine licensing process work completed by the sellers
- City‑repriced building plans 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
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.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
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
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?
Grocery and convenience store - Existing plans and beer-and-wine licensing work support completion of a proposed retail concept.
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 commercial building on 0.23 acres; Beer‑and‑wine licensing process work completed by the sellers; City‑repriced building plans for a proposed addition
