794 Pine Street
Retail | 8.51% CAP | 34,965 SqFt
Marketing description
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 70% total occupancy, with the only vacancy being the recently vacated garden level suites.
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.
Deal Page Here:
https://platform.reverecre.com/project/f94c4a46-b979-4055-9243-b36e39a85fa9
Investment highlights
$3,100,000 Asking Price
$232,951 NOI
Fully Renovated
70% Total Occupancy
100% Co-working Occupancy
0.98 Acres
Additional Parking Lot
$3 Million+ Invested
Diversified Tenants
OPRA in Place Till Dec 2028
No Upcoming Capital Expenditures
6,250 SF Vacant Suite
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