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

    1250 Mercy Dr, Unit C Muskegon, MI 49444

    • Medical offices
    • 15,629 SF
    For Lease
    View listing
    $19 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1922178
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Medical offices

    Property Details for 1250 Mercy Dr

    Year built
    2011
    Property size
    15,629 SF
    Property type
    Medical offices

    Description

    This single-story, 15,629 square foot medical office building in Muskegon, Michigan, presents a unique investment opportunity. Located on a 2.51-acre lot within the Trinity (Mercy) Health main campus off Sherman Boulevard, this Class C building offers excellent visibility and accessibility. Constructed in 2011, the property boasts ample parking and is currently fully vacant, providing a blank canvas for a new tenant or multiple tenants. The minimum divisible space is 2,130 square feet, with a maximum contiguous space of 4,265 square feet. The building is zoned MC and is situated in Muskegon County, Michigan, with a convenient 49444 zip code. A significant advantage is the lease incentive package which includes build-out to a "white-box" condition and a $50,000 tenant improvement allowance. This makes it an ideal location for medical practices seeking a move-in ready space with significant cost savings. The property's location within a thriving medical campus ensures high foot traffic and a strong patient base. This is a rare opportunity to secure a well-maintained, strategically located medical office building in a desirable market. Contact us today to learn more about this exceptional property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Muskegon
    County
    Muskegon
    State
    Michigan
    Longitude
    -86.2127622
    Latitude
    43.2079968

    Comparable in this City

    • $10 SF/Yr
      47,973 SF

      Norton Shores Medical Office Space

      Prime Medical Office Suites, Muskegon County
      3535 Park St, Norton Shores, MI 49444
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    • $18 SF/Yr

      Medical Office Space For Lease

      Medical office suites available within Trinity Health Lakes Village.
      6401 Prairie St, Norton Shores, MI 49444
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      Medical Office Space Available

      Medical office space in award-winning building with high traffic.
      1450 E Farr Rd, Muskegon, MI 49444
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    • $19 SF/Yr
      2,130 SF

      Medical Office Space For Rent

      Professional office space within Trinity Health campus, customizable to requirements.
      1250 Mercy Dr, Muskegon, MI 49444
      View Details
    • $15 SF/Yr

      Muskegon Medical/Office Suite For Rent

      Turn-key medical or general office suite in central location.
      1675 E Mt. Garfield Rd, Muskegon, MI 49444
      View Details
    • $18 SF/Yr
      2,918 SF

      Medical Office Space For Rent

      Medical office space available in award-winning building, Norton Shores.
      1450 E Farr Rd, Norton Shores, MI 49444
      View Details

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    Similar Nearby for Lease

    • $10 SF/Yr
      47,973 SF

      Norton Shores Medical Office Space

      Prime Medical Office Suites, Muskegon County
      3535 Park St, Norton Shores, MI 49444
      View Details
    • $18 SF/Yr

      Medical Office Space For Lease

      Medical office suites available within Trinity Health Lakes Village.
      6401 Prairie St, Norton Shores, MI 49444
      View Details
    • $18 SF/Yr

      Medical Office Space Available

      Medical office space in award-winning building with high traffic.
      1450 E Farr Rd, Muskegon, MI 49444
      View Details
    • $19 SF/Yr
      2,130 SF

      Medical Office Space For Rent

      Professional office space within Trinity Health campus, customizable to requirements.
      1250 Mercy Dr, Muskegon, MI 49444
      View Details
    • $15 SF/Yr

      Muskegon Medical/Office Suite For Rent

      Turn-key medical or general office suite in central location.
      1675 E Mt. Garfield Rd, Muskegon, MI 49444
      View Details
    • $18 SF/Yr
      2,918 SF

      Medical Office Space For Rent

      Medical office space available in award-winning building, Norton Shores.
      1450 E Farr Rd, Norton Shores, MI 49444
      View Details
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    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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