Manufacturing Property with Shop
For Sale
$474,900
Vl-415 S Lake St, Whitehall, MI 49461
Two separate parcels combine a service-equipped shop with vacant land for workspace, storage, or redevelopment.
Property Size2,000 SF
Lot Size0.66 Acres
Price / SF$237.45
Days on Market9
Property Features for Vl-415 S Lake St
General Information
Standard status
Active
Size
2,000 SF
Lot size
0.66 Acres
Property subtype
Land
Additional Details
Utilities to Site
Yes
Three-Phase Power
Yes
Taxes and HOA fees
Annual Taxes
$1,931
Amenities
extensive electrical wiring and conduit
three-phase capability
breakers throughout
air compressor and air lines
natural gas
two hanging furnace units
brand-new furnace
2015 water heater
sub-pump
electricity to back shed
Building Details
Building Size
2,000 SF
Construction
block
Listing Agency:
HomeRealty, LLC
(616) 935-9000
Listed By:
Gina J Vis · License #6501309291
(616) 502-0885
Source:
Exprealty
Added: Oct 9
Changed: Oct 17
Last Checked: Oct 16 at 3:07PM
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 HomeRealty, LLC
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Investment Insights
Based on property information with market context.
The property consists of two parcels: one contains an approximately 2,000 sq. ft. block building, while the other is vacant. The shop has extensive wiring and conduit, three-phase capability, breakers, an air compressor with air lines, natural gas, two suspended furnace units, and a 2015 water heater. A new furnace is included, as is some equipment. A sub-pump beneath the shop supports drainage, and the back shed has electrical service.
The building has served as a machine shop, fabrication shop, mechanic shop, and marine detailing and maintenance facility. The property totals approximately .66 acres and offers space for business use, storage, workspace, or redevelopment. Seller-owned equipment and materials will be removed.
The building has served as a machine shop, fabrication shop, mechanic shop, and marine detailing and maintenance facility. The property totals approximately .66 acres and offers space for business use, storage, workspace, or redevelopment. Seller-owned equipment and materials will be removed.
Key Highlights
- Two separate parcels: one with a block shop building and one vacant
- Approximately 2,000 sq. ft. building on approximately .66 acres
- Three‑phase capability, extensive wiring and conduit, and breakers throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,184
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$383,680
$383.7K
Cap Rate 7%
$274,057
$274.1K
Cap Rate 9%
$213,156
$213.2K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$28.1K $14.04/SF
− Vacancy
−$674 −$0.34/SF
EGI
$27.4K $13.70/SF
− OpEx
−$8.2K −$4.11/SF
NOI
$19.2K $9.59/SF
Area
Muskegon County, MI
Vacancy
2.40%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$383,680
Cap Rate 7%
$274,057
Cap Rate 9%
$213,156
Alternative Uses
Best Use
Industrial
$274.1K
$239.8K – $319.7K
NOI $19,184 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$18.78M
$16.43M – $21.91M
NOI $1,314,745 @ 7.0% cap · market cap 276.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
Explore this area
Business Placement
Demographics for 49461, MI
9,295
Population
4,220
Households
2.2
Avg Household Size
47
Median Age
30%
College-Educated
97%
High-School Grad
43.2 sq mi
ZIP Area
215
Density / Sq Mi
$80,495
Median Household Income
$42,249
Median Earnings
$874
Median Rent
$245,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Manufacturing property - Two separate parcels combine a service-equipped shop with vacant land for workspace, storage, or redevelopment.
Where is this manufacturing property located?
The property is located at Vl-415 S Lake St Whitehall, MI.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Two separate parcels: one with a block shop building and one vacant; Approximately 2,000 sq. ft. building on approximately .66 acres; Three‑phase capability, extensive wiring and conduit, and breakers throughout
