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422 W Hovey Ave Muskegon, MI 49444

Industrial properties Google Maps
16,120 SF 1.04 ac lot Built 1972
Entity Owned Absentee Owner Free & Clear
Estimated value (blended)
$245k
Range $221k – $270k (±10%)
Property ID US43-1259053

Property summary

AI-generated overview

This exceptional 16,120-square-foot warehouse in Muskegon Heights, Michigan, presents a compelling investment opportunity. Priced at $675,000, this property offers significant potential for various industrial uses. The building, constructed in 1972, features a spacious open-span steel design with ceiling heights ranging from 18 to 24 feet, providing ample vertical space. The layout includes a 10,000-square-foot front section and a 6,000-square-foot rear section, conveniently connected by an overhead door. Two dock-high doors and one loading dock facilitate efficient loading and unloading. The front section also incorporates three office rooms and three half-baths, offering functional workspace. The property benefits from two electrical meters, ensuring sufficient power for diverse operations. Its strategic location along the railroad tracks provides convenient rail access, a significant advantage for businesses requiring this mode of transportation. The durable metal and rubber roof ensures long-term protection. Beyond the main building, additional land is available, offering possibilities for expansion, storage, or extra parking. The property sits on 1.04 acres and comprises seven lots, zoned D1-IND, allowing for a range of industrial applications. The APN is 26-185-086-0013-00. This warehouse is located at 422 W Hovey Ave, Muskegon Heights, MI 49444.

Property profile

Verified
Property type Industrial properties
Use group INDUSTRIAL (GENERAL)
Year built 1972
Total area 16,120 SF
Lot 1.04 ac (45,172 SF)
Zoning code D1-IND
APN 61-26-185-086-0013-00
UPID US43-1259053

Cap rate & NOI

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

Value estimations

Realmo proprietary · 4 methods
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CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$245k

Owner & transaction history

Zoning & alternative use

D1-IND · Muskegon, MI

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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