Property profile

221 Webster Ave Muskegon, MI 49440

OFF-MARKET
Other commercial real estate
Property ID
US43-1868245
42,888 SF 2.1 ac lot Built 1962
Entity Owned Free & Clear
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Property summary

AI-generated overview

The property is Core Plaza in Muskegon, Michigan, zoned B-3, situated on a 2.1-acre lot with ample parking. It includes individual coworking office spaces on the fifth floor, each configured for private use; one listed office space provides approximately 113 square feet. Shared building amenities include a reception area, conference rooms, and an employee kitchen/break area. The building also contains Lumberman’s Vault (a food collective) and a cocktail wine bar on the first floor, retail space on the second floor, additional coworking offices on the third through sixth floors, and a gymnasium in the basement.

Property profile

Verified
Property type Other commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1962
Total area 42,888 SF
Lot 2.1 ac (91,476 SF)
Zoning code R - 1
APN 61-24-957-021-0040-00
UPID US43-1868245

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Financial Advisor
  • Loan Service Bank
  • Real Estate Agency
  • Take-out & Catering Catering Service
  • Insurance Agency

Location

221 Webster Ave Muskegon, MI 49440-1294
Muskegon metro Census 4200 MUSKEGON-NORTON SHORES, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$5.85M
Blend (final) Blend
$5.85M

Owner & transaction history

Zoning & alternative use

R - 1 · Muskegon, MI
Zoning description

Article IV “R-1, Single-Family Residential”, Section 402: One Family Dwelling Regulations (Repealed and reserved this section since language was incorporated into Section 2319.) Article XXIII “General Provisions”, Sectio…

General category RESIDENTIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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