794 Pine St 34,965 SF 88% Leased Retail Building Muskegon, MI 49442 £2,257,571 (£64.57/SF) 8.34% Net Initial Yield
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.
DATA ROOM Click Here to Access
- Offering Memorandum
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
£2,257,571
Price Per SF
£64.57
Net Initial Yield
8.34%
NOI
£188,385
Percent Leased
88%
Tenancy
Multiple
Number of Floors
3
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 Heating
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Take advantage of this exceptional opportunity at the Northtown 794 building in downtown Muskegon. The entire Garden Level is available for your business. Former location of a brewery and tasting room, this space offers multiple site use options. The Northtown building was renovated in 2019 and is occupied by thriving businesses including two full-service bar/restaurants (Capone's and Kitchen 794), Aldea Coffee, Polka Dot Paisley (boutique retail) on the street level. The upper floor of the building has been redeveloped for professional office space and is 90%+ occupied
Newer office space available within the Northtown 794 building located in downtown Muskegon.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 4,000 SF | Retail | - | Now |
| 220 | 144 SF | Office | - | Now |
1st Floor
| Size |
| 4,000 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
220
| Size |
| 144 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
Walk Score®
Very Walkable (80)
PROPERTY TAXES
| Parcel Number | 24-205-177-0005-00 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £11,759 |
