609 Western AveMuskegon, MI 49440

  • Commercial real estate
  • 2,005 SF
For Sale
$650,000 View listing

Property Details for 609 Western Ave

Year built
1945
Lot size
0.08 AC
Property size (Sq ft)
2,005 SF
Zone code
FBC-MS
Property type
Commercial real estate
APN
61-24-205-316-0009-10
APU
6124205316000910

Description

This exceptional investment opportunity presents a newly remodeled, 1,990 square foot bar and restaurant building located at 609 W Western Ave in Muskegon, Michigan. The property, identified by APN 24-205-316-0009, boasts a prime location in the heart of downtown Muskegon, offering stunning views of Muskegon Lake. The building is a two-story Class B structure with a single tenant currently enjoying 100% occupancy. The sale is structured as a sale/leaseback with a NNN lease in place. The asking price is $650,000, translating to $326.63 per square foot. The property is zoned for commercial use and includes a full kitchen. While the business, liquor license, and furniture, fixtures, and equipment (FF&E) are not included in the sale, the possibility of acquiring these assets separately may be available. This turnkey opportunity is perfect for investors seeking a strong return in a vibrant downtown location. The building features a significant additional 2744 square feet of space, including a rooftop deck complete with restrooms and a bar. This unique offering combines a desirable location with a recently updated building, presenting a compelling investment prospect. Don't miss this chance to own a piece of Muskegon's thriving downtown scene.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $419,157
    Hospitality
    $383,946
    Educational
    $319,438
    Medical
    $330,424
    Retail
    $496,904

Location Insight

City
Muskegon
County
Muskegon
State
Michigan
Latitude
43.2322
Longitude
-86.2579
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
$7,601
-
-
$142,800
-
-
-
$285,600

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