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    3373 E Apple Ave Muskegon, MI 49442
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    3373 E Apple Ave Muskegon, MI 49442

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    • Industrial properties
    • 2,013 SF
    • 41.80 lot acres
    For Sale
    $895,000
    View Listing →
    Prime Development Land on Apple Avenue For Sale
    $895,000
    2,013 SF

    Prime Development Land on Apple Avenue

    Over 40 acres of prime development land in Muskegon, MI.

    3373 E Apple Avenue, Muskegon, MI 49442
    View Listing
    Property ID
    US43-1621063
    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

    • Industrial properties

    Property Details for 3373 E Apple Ave

    Year built
    1950
    Lot size
    41.80 lot acres
    Property size
    2,013 SF
    Property type
    Industrial properties

    Description

    This exceptional Muskegon industrial property encompasses 41.8 acres and presents a remarkable investment opportunity. The site includes four parcels (10025100002000, 10025100002000, 10025100000800, 0025100000110), two of which boast commercial frontage on high-traffic Apple Avenue. Infrastructure is already in place, including established curb cuts, municipal water, and sewer lines. The property features a beautifully remodeled 2,013 square foot brick home with four bedrooms and two bathrooms, adding significant value and potential for on-site management or rental income. A smaller apartment located at the rear of the property offers additional rental possibilities. Access is convenient, with ingress and egress points from both Apple Avenue and Dangl Road. The expansive undeveloped acreage is ideal for a variety of projects, including a new residential subdivision, housing complex, condominiums, or apartment buildings. This property offers significant potential for development and immediate income generation. A land contract is available with a 35% down payment. The asking price is $899,000.

    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
    -86.15999
    Latitude
    43.23373

    Comparable in this City

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      Muskegon Flex Space Development Site

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      Muskegon Industrial Building on 1.86 Acres

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      Muskegon Industrial Property with Showroom

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      Versatile Commercial Building on Apple Avenue

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      Muskegon Township Wooded Buildable Lot

      Wooded 1.01 acre lot in Muskegon Township, utilities available.
      3681 Hall Rd, Muskegon, MI 49442
      View Details

    Similar Nearby for Sale

    • $145,000
      Pending

      Muskegon Industrial Land and Buildings

      Two buildings and 1.62 acres in industrial Muskegon.
      1060 E Keating Ave, Muskegon, MI 49442
      View Details
    • $899,000
      44,266 SF

      Muskegon Flex Space Development Site

      Approved 6.60-acre site ideal for flex space development.
      2389 E Laketon Ave, Muskegon, MI 49442
      View Details
    • $350,000
      22,484 SF

      Muskegon Industrial Building on 1.86 Acres

      Two-story industrial building suitable for manufacturing, storage, or redevelopment.
      783 Yuba St, Muskegon, MI 49442
      View Details
    • $1,700,000
      27,900 SF

      Muskegon Industrial Property with Showroom

      27,900 SF industrial property with showroom on 5.20 acres.
      1577 South Getty St, Muskegon, MI 49442
      View Details
    • $165,000
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      Versatile Commercial Building on Apple Avenue

      Adaptable commercial building suitable for various business uses.
      3639 E Apple Ave, Muskegon, MI 49442
      View Details
    • $34,900
      1.01 Acres

      Muskegon Township Wooded Buildable Lot

      Wooded 1.01 acre lot in Muskegon Township, utilities available.
      3681 Hall Rd, Muskegon, MI 49442
      View Details

    Similar Nearby for Lease

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      Downtown Muskegon Garden Level Space

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    • New
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      Industrial Space in Port City Park

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    • $2.00 SF/Yr
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      Muskegon Commercial Unit For Rent

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      1655 E Apple Ave, Muskegon, MI 49442
      View Details
    • $1,500 /Mo
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      Muskegon Office Space For Rent

      Well-appointed upper-level office space with build-out options and ample parking.
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      Downtown Muskegon Commercial Space Available

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    • Contact for pricing

      Land For Lease

      Land available for lease.
      E Apple Ave, Muskegon, MI 49442
      View Details
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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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