Overview
Advantage Commercial Real Estate is pleased to present Northtown 794, located in Muskegon Michigan.
This fully renovated, mixed-use commercial property totals approximately 34,965 SF across three floors.
Northtown 794 features vibrant street-level retail and restaurant tenants, and an upper floor comprised of 29 co-working suites at 100% occupancy. The property is currently at 93.56% total occupancy, with the only vacancy being a recently vacated garden level suite.
- $3,100,000 Asking Price
- $312,808 NOI
- Fully Renovated
- 93.56% Total Occupancy
- 100% Co-working Occupancy
- 0.98 Acres
- Additional Parking Lot
Investment Highlights
Northtown 794 provides the opportunity to acquire an asset with immediate stable cash flow, as well as the ability to immediately increase value through a lease up of the garden level vacancy. All three restaurant tenants survived through COVID, and the co-working space has extremely popular with 100% occupancy and a waitlist for space to open up.
The property also benefits from the presence of an Obsolete Property Rehabilitation Exemption Certificate, which froze the properties taxable value till the end of 2028.
- $3 Million+ Invested
- Diversified Tenants
- OPRA in Place Till Dec 2028
- No Upcoming Capital Expenditures
- 2,250 SF Vacant Suite
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