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1208 8th St 6,522 SF 100% Leased Retail Building Muskegon, MI 49440 $1,350,000 ($206.99/SF) 6.45% Cap Rate
Executive Summary
Investment opportunity in downtown Muskegon. The subject property building has been improved with new utilities, roof, windows, restrooms, etc. The interior is currently finished to a white-box condition and the tenant intends to finish the space for use as a restaurant/bar venue. The property is situated in a prime location at W. Western Avenue and 8th Street, across from Muskegon Lake and the popular Heritage Landing waterfront gathering place, which is the site of many community festivals and events.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,522 SF
Building Class
B
Year Built
1947
Price
$1,350,000
Price Per SF
$206.99
Cap Rate
6.45%
NOI
$87,075
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.07
Lot Size
2.00 AC
Opportunity Zone
Yes
Zoning
B3 - Commercial Zoned Property
Parking
30 Spaces (4.6 Spaces per 1,000 SF Leased)
Frontage
145’ on 8th St
Amenities
- Tenant Controlled HVAC
- Waterfront
- Air Conditioning
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
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1208 8th St
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