Overview
CORE Plaza is a six-story, 48,621 SF mixed-use office and retail asset that has undergone a complete redevelopment & re-imagining, establishing itself as a premier commercial destination in the heart of downtown Muskegon. The property features a blend of uses including a food hall & boutique retail suites on the 1st and 2nd floors, along with coworking & professional office suites on the upper floors, creating a diverse and resilient income stream.
- $6,650,000 Asking Price
- 8.91% cap
- $592,772 NOI
- Redeveloped from 2021 - 2025
- Millions Invested
Investment Highlights
CORE Plaza presents a unique opportunity to acquire a stabilized, newly redeveloped asset with immediate income and multiple avenues for value creation. Investors can rely on a strong, consistent in-place NOI supported by a mix of retail and co-working that works symbiotically. The retail brings steady foot traffic that helps fill and energize the co-working space, while the co-working users create daily activity that supports the retailers. This complementary relationship strengthens occupancy, enhances the overall tenant experience, and contributes to the long-term stability and value of the asset.
- 97% Occupied
- OPRA in Place till December 2029
- Annual Brownfield Reimbursements
- 1.3 Acre outlot opportunity
- New Heating & Cooling Systems
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