Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    380 W Western Ave Unit, Unit 1 Muskegon, MI 49440

    • Commercial real estate
    • 2,641 SF
    • 0.35 lot acres
    For Sale
    View listing
    $415,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1479302
    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

    • Commercial real estate

    Property Details for 380 W Western Ave Unit

    Year built
    2008
    Lot size
    0.35 lot acres
    Property size
    2,641 SF
    Zone code
    FBC-DT
    Property type
    Commercial real estate
    APN
    61-24-432-000-0001-00
    APU
    6124432000000100

    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
    -86.2531
    Latitude
    43.2357
    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
    $8,546
    $0.00
    $0.00
    $265,500
    -
    $0.00
    $0.00
    $531,000

    Comparable in this City

    • Value Estimation by Request
      0.21 Acres

      454 Clay Ave

      COMMERCIAL (GENERAL) • 0.21 Acres
      454 Clay Ave, Muskegon, MI 49440-1002
      View Details
    • Value Estimation by Request
      0.11 Acres

      121 Clay Ave

      COMMERCIAL (GENERAL) • 0.11 Acres
      121 Clay Ave, Muskegon, MI 49440-1210
      View Details
    • Value Estimation by Request
      0.40 Acres

      933 Ter St

      COMMERCIAL (GENERAL) • 0.40 Acres
      933 Ter St, Muskegon, MI 49440-1348
      View Details
    • Value Estimation by Request
      0.03 Acres

      4 Walton Ave

      COMMERCIAL (GENERAL) • 0.03 Acres
      4 Walton Ave, Muskegon, MI 49440-1323
      View Details
    • Value Estimation by Request
      0.32 Acres

      472 Webster Ave

      COMMERCIAL (GENERAL) • 0.32 Acres
      472 Webster Ave, Muskegon, MI 49440-1046
      View Details
    • Value Estimation by Request
      0.42 Acres

      1088 Peck St

      COMMERCIAL (GENERAL) • 0.42 Acres
      1088 Peck St, Muskegon, MI 49440-1319
      View Details

    Similar Nearby for Sale

    • $600,000
      0.97 Acres

      Muskegon Ave Commercial Land Opportunity

      Prime Downtown Muskegon Land: 0.97 Acres, $600,000
      122 Muskegon Ave, Muskegon, MI 49440
      View Details
    • $600,000
      0.97 Acres

      Downtown Muskegon Development Site

      Prime 0.97-acre commercial land, high visibility.
      122 Muskegon Ave, Muskegon, MI 49440
      View Details
    • $1,495,000
      39,204 SF

      Historic Downtown Muskegon Commercial Building

      Rare 39,204 SF historic building in revitalized downtown Muskegon.
      521 W Western Ave, Muskegon, MI 49440
      View Details
    • $500,000
      6,330 SF

      Corner Office Building with Parking

      Centrally located office building with ample parking in Muskegon, MI.
      20 W Muskegon Ave, Muskegon, MI 49440
      View Details
    • $415,000
      2,335 SF

      Downtown Muskegon Office Condominium

      Main-floor office condo in downtown Muskegon with open floor plan.
      380 W Western Ave Unit, Muskegon, MI 49440
      View Details
    • $259,900
      0.06 Acres

      Lakefront Lot in Veridian Shores

      Lakefront lot with lake views, private dock option, community pool.
      258 Viridian Shores Dr, Muskegon, MI 49440
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      46,832 SF

      Terrace Point Office Suites

      Muskegon Waterfront Office Space
      700 Ter Pt Rd, Muskegon, MI 49440
      View Details
    • $12 SF/Yr
      80,700 SF

      Ten21 Muskegon Retail Space

      Downtown Muskegon retail, 1,000-2,028 sq ft.
      1021 Jefferson St, Muskegon, MI 49440
      View Details
    • $16 SF/Yr
      119,890 SF

      Terrace Plaza Office Suites

      Downtown Muskegon Office Space: Modern Amenities
      316 Morris Ave, Muskegon, MI 49440
      View Details
    • $14 SF/Yr
      49,636 SF

      Muskegon Executive Office Space

      Prestigious Lakefront Office Suites
      700 Terrace Point Dr, Muskegon, MI 49440
      View Details
    • $28 SF/Yr
      568 SF

      Downtown Muskegon Boutique Retail Space

      Revitalized historic building with modern amenities in downtown Muskegon.
      221 W Webster Ave, Muskegon, MI 49440
      View Details
    • $10 SF/Yr
      2,625 SF

      Downtown Muskegon Office Space Available

      2,625 sq ft office space with lake views.
      380 W Western Ave, Muskegon, MI 49440
      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.
    380 W Western Ave Unit, Unit 1
    Muskegon, MI 49440
    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

    Google sign-in failed. Please try again or use another login method.