794 Pine St | Muskegon, MI 49442
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794 Pine St
Muskegon, MI 49442
Retail Property For Sale
Executive Summary
Northtown 794 represents a mixed-use investment opportunity situated within revitalized downtown Muskegon. This Class A property includes successful retail and food establishments along with stable professional office tenants. The building is comprised of 34,000 SF with 3 floors (11,000 +/- per) that include garden level and street level restaurant/retail space and upper floor professional office space. The building, built in 1923, was completely renovated in 2019 - 2021. The street level restaurant/retail spaces are fully occupied as well as the upper-level professional office space. The garden level is currently vacant and was previously occupied by a craft brewery operation and associated tasting room/bar area. The garden level represents potential upside for an investor. The main level tenants include Aldea Coffee, Kitchen 794, Capones Speakeasy, and Polka Dot Paisley (women's boutique). The upper level is comprised of private offices (2) and associated conference rooms, kitchen area, and common areas. This "co-work" space is occupied by a mix of tenants including counselors, attorneys, engineers, financial advisors, tax professionals, and sales representatives.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
34,965 SF
Building Class
B
Year Built
1900
Price
$2,995,000
Price Per SF
$86
Cap Rate
8.34%
NOI
$249,920
Percent Leased
82%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.61
Lot Size
0.50 AC
Opportunity Zone
Yes
Zoning
B-4 - Commercial Zoned Property
Frontage
200 FT on Pine St
Amenities
- Tenant Controlled HVAC
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 24-205-177-0005-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $15,600 |
PROPERTY TAXES
Parcel Number
24-205-177-0005-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$15,600
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