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    600 Shoreline Dr Muskegon, MI 49440

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    600 Shoreline Dr Muskegon, MI 49440

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    • Mixed-use properties
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    Harbor 31 Mixed-Use Development For Lease
    Contact for pricing

    Harbor 31 Mixed-Use Development

    Mixed-use development with retail, office, and residential opportunities.

    600 Shoreline Dr, Muskegon, MI 49440
    View Listing
    Property ID
    US43-3841768
    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

    • Mixed-use properties

    Property Details for 600 Shoreline Dr

    Property type
    Mixed-use properties
    Property subtype
    Retail properties & Spaces

    Description

    Located directly adjacent to the reimagined downtown Muskegon, Harbor 31 is taking the next steps toward transformation of the southern shoreline of Muskegon Lake. In doing so, the new Harbor 31 mixed-use development will include various opportunities to work, play and live. Opportunities include multiple retail/ restaurant locations, a hotel site, Class A office spaces, a watercraft sales and rental site and multiple residential living options all designed with a contemporary architectural style.

    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
    -86.2504027
    Latitude
    43.2418119

    Comparable in this City

    • $18 SF/Yr

      Harbor 31 Mixed-Use Development

      Mixed-use development with retail, restaurant, office, hotel, and residential spaces.
      600 Shoreline Dr, Muskegon, MI 49440
      View Details
    • $13 SF/Yr
      80,700 SF

      Downtown Muskegon Mixed-Use Commercial Space

      Newer construction commercial space in downtown Muskegon for lease.
      1021 Jefferson St, Muskegon, MI 49440
      View Details
    • $13 SF/Yr
      80,700 SF

      Downtown Muskegon Mixed-Use Commercial Space

      Newer construction commercial space in downtown Muskegon.
      1021 Jefferson St, Muskegon, MI 49440
      View Details
    • Contact for pricing

      Terrace Plaza: Downtown Muskegon Office

      Multi-tenant mixed-use building with office space for lease.
      316 Morris Ave, Muskegon, MI 49440
      View Details
    • $17 SF/Yr
      1,326 SF

      Food Stall at Lumberman's Vault

      Premier food collective space for lease in Muskegon, Michigan.
      221 W Webster Ave, Muskegon, MI 49440
      View Details
    • Contact for pricing

      Downtown Muskegon Commercial Space Available

      New construction commercial space in a mixed-use downtown building.
      1021 Jefferson St, Muskegon, MI 49440
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      48,621 SF

      Downtown Muskegon Mixed-Use Redevelopment

      Six-story mixed-use property with retail and office spaces for sale.
      221 Webster Ave, Muskegon, MI 49440
      View Details
    • $1,200,000
      6,522 SF

      Muskegon Downtown Investment Opportunity

      Prime location near Muskegon Lake, suitable for restaurant/bar.
      1208 8Th St, Muskegon, MI 49440
      View Details
    • Contact for pricing

      Land Suitable for Development

      Land with approved plans for apartments or office development.
      122 W Muskegon Ave, Muskegon, MI 49440
      View Details
    • $1,350,000
      6,522 SF

      Downtown Muskegon Investment Opportunity

      Retail property in prime location near Muskegon Lake.
      1208 8Th St, Muskegon, MI 49440
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr

      Harbor 31 Mixed-Use Development

      Mixed-use development with retail, restaurant, office, hotel, and residential spaces.
      600 Shoreline Dr, Muskegon, MI 49440
      View Details
    • $13 SF/Yr
      80,700 SF

      Downtown Muskegon Mixed-Use Commercial Space

      Newer construction commercial space in downtown Muskegon for lease.
      1021 Jefferson St, Muskegon, MI 49440
      View Details
    • $13 SF/Yr
      80,700 SF

      Downtown Muskegon Mixed-Use Commercial Space

      Newer construction commercial space in downtown Muskegon.
      1021 Jefferson St, Muskegon, MI 49440
      View Details
    • Contact for pricing

      Terrace Plaza: Downtown Muskegon Office

      Multi-tenant mixed-use building with office space for lease.
      316 Morris Ave, Muskegon, MI 49440
      View Details
    • $17 SF/Yr
      1,326 SF

      Food Stall at Lumberman's Vault

      Premier food collective space for lease in Muskegon, Michigan.
      221 W Webster Ave, Muskegon, MI 49440
      View Details
    • Contact for pricing

      Downtown Muskegon Commercial Space Available

      New construction commercial space in a mixed-use downtown building.
      1021 Jefferson St, Muskegon, MI 49440
      View Details
    View Listing
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    Muskegon, MI 49440
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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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