Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1060-62 Sternberg Rd Norton Shores, MI 49444

    • Retail properties
    • 56,587 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 1060-62 Sternberg Rd

    Property size
    56,587 SF
    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    This exceptional commercial property, known as The Pointes, presents a fantastic leasing opportunity for discerning businesses. Located at 1060-62 E Sternberg Rd in Norton Shores, Michigan, this single-tenant retail space offers 2,400 square feet of readily available space within a larger 56,587 square foot building. Situated on a substantial 14-acre lot in Muskegon County, the property boasts excellent visibility and accessibility, making it ideal for a variety of retail or restaurant concepts. The building's size and location offer significant potential for growth and brand exposure. The property is categorized as both retail and restaurant use, providing flexibility for potential tenants. The address is conveniently located in Norton Shores, MI, zip code 49444, offering easy access to major transportation routes and a thriving local community. This is a rare opportunity to secure a prime commercial space in a desirable location. The property is currently available for lease. Serious inquiries are encouraged to explore this exceptional opportunity further. The total building size is 56,587 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Norton Shores
    County
    Muskegon
    State
    Michigan
    Longitude
    -86.2181
    Latitude
    43.1545

    Comparable in this City

    • Value Estimation by Request
      510 SF

      5510 Harvey St

      Restaurants • 510 SF
      5510 Harvey St, Muskegon, MI 49444
      View Details
    • Value Estimation by Request
      56,587 SF

      1080 Sternberg Rd

      Medical offices • 56,587 SF
      1080 Sternberg Rd, Norton Shores, MI 49444
      View Details
    • Value Estimation by Request
      0.41 Acres

      2921 Baker St

      Land • 1,800 SF
      2921 Baker St, Muskegon Heights, MI 49444
      View Details
    • Value Estimation by Request
      56,587 SF

      1068 Sternberg Rd

      Retail properties • 56,587 SF
      1068 Sternberg Rd, Muskegon, MI 49444
      View Details
    • Value Estimation by Request
      56,587 SF

      1052 Sternberg Rd

      Lifestyle centers • 56,587 SF
      1052 Sternberg Rd, Norton Shores, MI 49444
      View Details
    • Value Estimation by Request
      56,587 SF

      1048 Sternberg Rd

      Lifestyle centers • 56,587 SF
      1048 Sternberg Rd, Norton Shores, MI 49444
      View Details

    Similar Nearby for Sale

    • $99,900
      Pending

      Restaurant Opportunity Near Seaway Drive

      Remodeled restaurant space with high visibility and accessibility features.
      3232 Glade St, Muskegon, MI 49444
      View Details
    • $399,000

      Versatile Commercial Building with Updates

      Remodeled commercial building suitable for various uses, ample parking.
      2808 Mill Iron Rd, Muskegon, MI 49444
      View Details
    • $80,000
      0.41 Acres

      Muskegon Heights Retail & Land

      Prime Retail Opportunity, High-Growth Area
      2921 Baker St, Muskegon Heights, MI 49444
      View Details
    • $525,000
      6,681 SF

      Muskegon Heights Retail Property For Sale

      Retail property in Muskegon Heights, MI, featuring 6,681 square feet.
      2108 Peck St, Muskegon Heights, MI 49444
      View Details
    • $119,900
      6,882 SF

      Muskegon Heights Commercial Opportunity

      6,882 sq ft property on 1.3 acres near US-31.
      90 S Seaway Dr, Muskegon Heights, MI 49444
      View Details
    • $599,000
      16,488 SF

      Versatile Commercial Building in Muskegon

      16,488 SF commercial building suitable for retail, events, or warehousing.
      3367 Hoyt St, Muskegon, MI 49444
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      587,964 SF

      Lakeshore Retail Powerhouse

      Muskegon Mall: Prime Retail Space
      5600 Harvey St, Muskegon, MI 49444
      View Details
    • Contact for pricing
      1,859 SF

      Meijer In-Store Retail Space

      Fruitport Charter Township Retail Space
      5300 Harvey St, Fruitport Charter Township, MI 49444
      View Details
    • $36 SF/Yr

      Salon Suites For Rent

      Newly constructed salon suites available for lease.
      3375 Merriam Salon Suites, Muskegon Heights, MI 49444
      View Details
    • $16 SF/Yr
      2,334 SF

      Retail Space in High-Traffic Corridor

      Retail space available in a high-traffic commercial area.
      1664 E Sternberg Rd, Muskegon, MI 49444
      View Details
    • $16 SF/Yr

      Retail Space Near US 31

      Centrally located retail space with access to major routes.
      1675 E Mount Garfield Rd, Muskegon, MI 49444
      View Details
    • $12 SF/Yr
      1,300 SF

      Retail Space Near Lakes Mall

      1,300 SF retail suite near The Lakes Mall.
      5916 S Harvey St Unit, Muskegon, MI 49444
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1060-62 Sternberg Rd
    Norton Shores, MI 49444
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.