Two-Unit Office Building with
For Sale
$389,900
Fruitport, MI 49415, Fruitport, MI 49415
COMMERCIAL - Fruitport, MI
Property Size1,800 SF
Lot Size0.67 Acres
Price / SF$125.61
Days on Market147
Property Features
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
V-B-V-B
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Interior features
Broadband
Elementary school district
Fruitport
Middle school district
Fruitport
High school district
Fruitport
Directions
I-96 to Fruitport exit, south on 3rd St to address.
Standard status
Active
Size
3,104 SF
Lot size
0.67 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
VILLAGE OF FRUITPORT SEC 36 T9N R16W BLK 13 LOT 2
Tax Annual Amount
4128
Legal Description
VILLAGE OF FRUITPORT SEC 36 T9N R16W BLK 13 LOT 2
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Tucker Benner Realty LLC
(231) 246-8720
Listed By:
Marilyn K Tucker · License #6502422604
(231) 730-8781
Added: Mar 25
Changed: Aug 4
Last Checked: Aug 18 at 3:06PM
MLS# 26012397
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 office building was built in 1962 and is currently divided into two separate units. Each side includes a restroom and a reception area at the front. One suite includes several smaller office spaces, while the other provides more open space along with a separate private office. The office spaces have separate central air.
In addition, ample parking is available behind the building. The property is located on a busy main street in the Village of Fruitport, with easy access to the expressway and nearby shopping.
The offering also includes an additional home on the property that is listed separately as residential in the MLS. The home is described as 1,000 square feet with 3 bedrooms and 1 bath and was built in 1940, with the remarks stating it has been rented until recently. The Village of Fruitport indicates it may allow the property to be split into two separate parcels.
In addition, ample parking is available behind the building. The property is located on a busy main street in the Village of Fruitport, with easy access to the expressway and nearby shopping.
The offering also includes an additional home on the property that is listed separately as residential in the MLS. The home is described as 1,000 square feet with 3 bedrooms and 1 bath and was built in 1940, with the remarks stating it has been rented until recently. The Village of Fruitport indicates it may allow the property to be split into two separate parcels.
Key Highlights
- 1,800 SF commercial building on a busy main street in the Village of Fruitport, divided into two separate units
- Each unit includes a restroom; one suite has a front reception plus several smaller office spaces, while the other has reception, open space, and a separate private office
- Office spaces include separate central air systems for the units
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
$34,195
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
8.77%
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%
$683,900
$683.9K
Cap Rate 7%
$488,500
$488.5K
Cap Rate 9%
$379,944
$379.9K
Market Conditions
NOI Build-Up for 3,104 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
$52.9K $17.04/SF
− Vacancy
−$7.3K −$2.35/SF
EGI
$45.6K $14.69/SF
− OpEx
−$11.4K −$3.67/SF
NOI
$34.2K $11.02/SF
Area
Muskegon County, MI
Vacancy
13.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$683,900
Cap Rate 7%
$488,500
Cap Rate 9%
$379,944
Alternative Uses
Best Use
Office B
$488.5K
$427.4K – $569.9K
NOI $34,195 @ 7.0% cap · market cap 8.77%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$29.15M
$25.51M – $34.01M
NOI $2,040,484 @ 7.0% cap · market cap 523.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
Explore this area
Business Placement
Demographics for 49415, MI
6,618
Population
2,566
Households
2.6
Avg Household Size
43
Median Age
23%
College-Educated
94%
High-School Grad
27.6 sq mi
ZIP Area
240
Density / Sq Mi
$77,140
Median Household Income
$40,776
Median Earnings
$1,113
Median Rent
$230,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office building built in 1962 offering two separated suites, each with a restroom and reception area, plus ample rear parking.
Where is this office units located?
The property is located at Fruitport, MI.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: 1,800 SF commercial building on a busy main street in the Village of Fruitport, divided into two separate units; Each unit includes a restroom; one suite has a front reception plus several smaller office spaces, while the other has reception, open space, and a separate private office; Office spaces include separate central air systems for the units
