Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1308 Sherman Blvd Muskegon, MI 49441-3539
    Back to Search
    Property profile & analytics

    1308 Sherman Blvd, Muskegon, MI 49441-3539

    View on Map
    • Restaurants
    • 5,304 SF
    • 0.56 lot acres
    Off-Market
    Last Sale May 26, 2025
    $150,000
    Property ID
    US43-1527573
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Restaurants

    Property Details for 1308 Sherman Blvd

    Year built
    1930
    Lot size
    0.56 lot acres
    Zone code
    B-4
    Property type
    Restaurants
    APN
    61-24-382-029-0014-00
    APU
    6124382029001400

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 26, 2025 $150,000 Skeetown Properties LLC Ronald A Estlick Warranty Deed —
    Aug 26, 2025 — Muskegon Land Holdings INC Skeetown Properties LLC Warranty Deed —
    Oct 6, 2014 — Ronald A Estlick Estlick,ronald A & Mary K Quit Claim Deed · related —
    Jan 2, 2013 — Skeetown Properties LLC Estlick,ronald A & Mary K Grant Deed · related —
    — — Skeetown Tavern INC — Deed Of Trust · related $35k · Ronald A & Mary K Estlick

    Property Overview

    This property features a 5,304 sq ft building situated on a 0.57-acre corner lot. The building, previously operated as a well-known restaurant for over 30 years, includes dual access points and ample parking. The restaurant was known for its authentic Mexican dishes and award-winning steaks. A 1,800 sq ft apartment is located on the second floor, suitable for an owner or on-site manager; it was previously rented. The restaurant maintained high ratings on various online platforms. The property presents a value-add opportunity for revitalization.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Muskegon
    County
    Muskegon
    State
    Michigan
    Longitude
    -86.276
    Latitude
    43.2059
    CBSA code
    34740
    CBSA name
    MUSKEGON-NORTON SHORES, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $6,900
    $0.00
    $0.00
    $185,200
    -
    $0.00
    $0.00
    $370,400

    Comparable in this City

    • Value Estimation by Request
      98,530 SF

      600 Shoreline Dr

      Restaurants
      600 Shoreline Dr, Muskegon, MI 49441
      View Details
    • Value Estimation by Request

      600 Shoreline Dr

      Retail properties & Spaces
      600 Shoreline Dr, Muskegon, MI 49441
      View Details
    • Value Estimation by Request
      0.54 Acres

      1980 Sanford St

      VACANT COMMERCIAL LAND
      1980 Sanford St, Muskegon, MI 49441-2517
      View Details
    • Value Estimation by Request
      0.56 Acres

      1767 Park St

      COMMERCIAL (GENERAL)
      1767 Park St, Muskegon, MI 49441-2422
      View Details
    • Value Estimation by Request
      0.11 Acres

      908 Pulaski Ave

      VACANT COMMERCIAL LAND
      908 Pulaski Ave, Muskegon, MI 49441
      View Details
    • Value Estimation by Request
      0.57 Acres

      912 Western Ave

      COMMERCIAL (GENERAL)
      912 Western Ave, Muskegon, MI 49441-1617
      View Details

    Similar Nearby for Sale

    • $175,000
      1,593 SF

      Turn-Key Restaurant on High-Traffic Road

      Thriving restaurant on high-traffic road in Muskegon, fully equipped.
      1125 W Hackley Ave, Muskegon, MI 49441
      View Details
    • $424,900
      2,505 SF

      Iconic Restaurant & Bar For Sale

      Turn-key restaurant and bar with room to grow on 1+ acre.
      1300 W Sherman Blvd, Muskegon, MI 49441
      View Details
    • $399,900
      2,184 SF

      Restaurant Opportunity in Norton Shores

      Long-standing family restaurant with drive-in in high-traffic area.
      4221 Grand Haven Rd, Norton Shores, MI 49441
      View Details
    • Contact for pricing

      Iconic Restaurant & Bar For Sale

      Turn-key restaurant and bar with seating for over 100.
      1300 W Sherman Blvd, Muskegon, MI 49441
      View Details
    • Contact for pricing

      Established Restaurant in Norton Shores

      Well-established family restaurant with high traffic location and endless opportunities.
      4221 Grand Haven Rd, Norton Shores, MI 49441
      View Details
    • $525,000
      5.75 Acres

      Norton Shores Commercial Land For Sale

      5.75 acres of retail/commercial zoned land in Norton Shores.
      6561 Grand Hvn Rd, Norton Shores, MI 49441
      View Details

    Similar Nearby for Lease

    • $2,600 /Mo
      2,748 SF

      Prime Lakeshore Drive Commercial Space

      Versatile commercial space in Muskegon's vibrant Lakeside Social District.
      1953 Lakeshore Dr, Muskegon, MI 49441
      View Details
    • $2,600 /Mo

      Prime Commercial Space on Lakeshore

      White box commercial space in a vibrant, high-traffic location.
      1953 Lakeshore Dr, Muskegon, MI 49441
      View Details
    • $1,500 /Mo
      708 SF

      Remodeled Office Building in Muskegon

      Completely remodeled office building near Muskegon Lake and Pere Marquette Park.
      1161 W Southern Ave, Muskegon, MI 49441
      View Details
    • New
      $15 SF/Yr
      11,603 SF

      Two-Story Office Building Suites

      Well-maintained professional office suites with updated HVAC, positioned along an established commercial corridor with strong visibility.
      3587 Henry St, Muskegon, MI 49441
      View Details
    • $1,950 /Mo
      1,760 SF

      Lakeshore Drive Commercial Space

      White box commercial space in a high-traffic Lakeside Social District.
      1949 Lakeshore Dr, Muskegon, MI 49441
      View Details
    • $1,500 /Mo
      690 SF

      Remodeled Office Building in Muskegon

      High-tech, remodeled office space near Muskegon Lake and Pere Marquette Park.
      1161 W Southern Ave, Muskegon, MI 49441
      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.
    1308 Sherman Blvd
    Muskegon, MI 49441-3539
    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

    Thank You for Inquiry
    1308 Sherman Blvd, Muskegon, MI, 49441
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!