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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1068 Sternberg Rd Muskegon, 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 1068 Sternberg Rd

    Property size
    56,587 SF
    Property type
    Retail properties

    Description

    This exceptional retail property, located at 1068 E Sternberg Rd in Norton Shores, Michigan, presents a unique leasing opportunity. The building boasts a total of 56,587 square feet, with 1,500 square feet currently available for lease. Situated on a substantial 14-acre lot in Muskegon County, this single-tenant space offers significant potential for a variety of commercial uses. The property's ample size and prime location within Muskegon County provide excellent visibility and accessibility for businesses seeking a strong presence in the area. The building's existing infrastructure provides a solid foundation for immediate occupancy, minimizing upfront investment and allowing for a quick start to operations. The property is classified as retail commercial and is ideal for businesses requiring significant space and convenient access. The zip code is 49444. This is a single-tenant property, offering a dedicated and private space for your business. The property's size and location make it an attractive option for businesses seeking to establish or expand their operations in the thriving Muskegon market. Serious inquiries are encouraged to explore this exceptional leasing opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Muskegon
    County
    Muskegon
    State
    Michigan
    Longitude
    -86.2179
    Latitude
    43.1545

    Comparable in this City

    • Value Estimation by Request
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      1080 Sternberg Rd

      Medical offices • 56,587 SF
      1080 Sternberg Rd, Norton Shores, MI 49444
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      0.41 Acres

      2921 Baker St

      Land • 1,800 SF
      2921 Baker St, Muskegon Heights, MI 49444
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      56,587 SF

      1060-62 Sternberg Rd

      Restaurants • 56,587 SF
      1060-62 Sternberg Rd, Norton Shores, 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
    • Value Estimation by Request
      104,600 SF

      5663 Harvey St

      Lifestyle centers • 104,600 SF
      5663 Harvey St, Norton Shores, MI 49444
      View Details

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    1068 Sternberg Rd
    Muskegon, MI 49444
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    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
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