Russell Block Building

Retail-Commercial for Sale
Also listed as Shopping Center, Office
Catylist Listing ID: 30745106
Property Subtypes: Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other
Building Size (RSF): 25,965 SF
Gross Building Area: See Agent
Sale Price: $1,980,000
Unit Price: $76.26 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 11/22/2021

Overview / Comments

*LOCATION!* This beautifully restored historic, landmark building, Russell Block, sits at the heart of Downtown Muskegon's bustling waterfront community. Built in 1890 during the Lumber Era, this commercial property housed the U.S. Post Office, YMCA, Western Union Telegraph, a theatre, and several different fraternal social clubs over the years and now boasts as one of the coolest urban buildings in Muskegon! Renovations of this nearly 26,000 SF property include new electrical, plumbing, mechanical, HVAC and fire suppression systems, facade restoration & new windows, barrier-free access, five restrooms, elevator, and security system. Tenant spaces have been tailored to accommodate brewing, refrigeration, full-service kitchen, sound-barrier, master keyed, and separate metered.

The open concept main floor, currently home to Muskegon's first brewery, features elevated ceilings with exposed joists, ducts, piping & lighting, original hardwood floors and brick walls with atrium opening to the lower level for several unique possibilities. The second level is home to West Michigan Symphony's small performing arts and concert venue with loft balcony, rooftop patio garden with views of Muskegon Lake and professional offices overlooking Muskegon's main street. The mezzanine level offers a professional office or meeting space as does the Third Floor, currently home to a creative marketing agency.

Outside street wall art and a new art mural adorn the 3,000 SF courtyard with seating and live music space. Tons of possibilities with this 3, possibly 4, level urban-aestic commercial property! Ideal opportunity for investor or owner-user. It's an incredible time to secure this historic building and get in on the rapidly growing development in the Muskegon lakeshore community!

Additional Details

Nearest MSA: Muskegon
County: Muskegon
Tax ID/APN: 6124233000000400
Zoning: CENTRAL BUSINESS
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention, Other
Property Located Between: Second Street and Third Street
Property Visibility: Excellent
Largest Nearby Street: Shoreline Drive
Feet of Frontage: 107
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 3
Property Condition: Good
Year Built: 1890
Year Renovated: 2013
Construction/Siding: Brick, Concrete
Parking Type: Surface
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Lot Frontage: 107
Lot Depth: 116
Water Service: Municipal
Sewer Type: Municipal
Legal Description: CITY OF MUSKEGON DOWNTOWN MUSKEGON DEVELOPMENT CENTER NO 1 UNIT 5 SBJT TO VAC ST/ALLEYS RECOR'D 1041/965 SBJT TO VAC ST/ALLEYS RECOR'D 1035/629 SBJT TO ESMNT MI BELL TEL CO RECOR'D 94M/564 SBJT TO ESMNT RECOR'D 1559/795 SBJT TO ESMNT FOR OVERHEAD/UNDERGROUND ELECTRIC LNS RECOR'D 3724/701

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,926 63,517 107,913
Median Age: 31.72 35.5 37.55
Households: 3,873 25,339 41,322

Contact

Photograph of Listing Agent

Bryan D. Bench

Core Realty Partners
CARWM Member
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