360-66 W Western Ave - Storefront FOR SALE


Muskegon, MI 49440- Downtown Muskegon
$1,400,000 USD
231-375-8033
360-66 W Western Ave, Muskegon, MI for Sale
$1,400,000 USD
Storefront - FOR SALE
1/36
null | 8.09% Cap Rate

360-66 W Western Ave
Muskegon, MI 49440
Downtown Muskegon


OVERVIEW

This beautifully restored historic, landmark building, Russell Block, sits at the heart of Downtown Muskegon. Built in 1890 during the Lumber Era, this commercial property housed the U.S. Post Office, YMCA, Western Union Telegraph, a theatre, and several different fraternal social clubs over the years. Renovations in 2011-2013 of this nearly 26,000 SF building included new electrical, plumbing, mechanical, HVAC and fire suppression systems, facade restoration & new windows, barrier-free access, five restrooms, elevator, and security system. Tenant spaces have been tailored to accommodate brewing, refrigeration, full-service kitchen, sound-barrier, master keyed, and separate metered. The open concept main floor, currently home to Muskegon's Unruly Brewery, features elevated ceilings with exposed joists, ducts, piping & lighting, original hardwood floors and brick walls with atrium opening to the lower level for several unique possibilities. The second level is home to West Michigan Symphony's small performing arts and concert venue with loft balcony, a rooftop patio garden with views of Muskegon Lake, and professional offices overlooking Muskegon's main street. The mezzanine level and third floor are occupied by a salon and spa. The property includes a 3,000 SF courtyard with seating and live music space. Ideal opportunity for an investor.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$54 USD /SF

CAP RATE

8.09%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1890

SPRINKLERS

-

PARKING SPACES

44

LAND DETAILS

CROSS STREETS

Clay Ave. and Third Street

LAND ACRES

7.86 AC

LAND SF

342,382 SF

ZONING

FBC-DT

APN/PARCEL ID

24-233-000-0004-00

ASK ABOUT THIS PROPERTY

Bryan BenchCore Realty PartnersMore Info
231-375-8033

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Bryan BenchCore Realty PartnersMore Info
231-375-8033

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.