221 W Webster Ave
Retail | 8.91% CAP | 48,621 SqFt
Marketing description
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.
The property has had significant capital improvements in the last 4 years. Due to the properties nature as a redevelopment it qualified for multiple tax incentives that upon sale are able to transfer to a buyer, including an Obsolete Property Rehabilitation Exemption (OPRA) as well as Brownfield Plan, through which the property owner is reimbursed annually for costs incurred during redevelopment.
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