Paw Paw Commercial
For Sale
$324,814
Pending
1022 E Michigan Avenue, Paw Paw, MI 49079
COMMERCIAL - Paw Paw, MI
Property Size3,696 SF
Lot Size0.99 Acres
Days on Market362
Property Features for 1022 E Michigan Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
commercial serv
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Paw Paw
Middle school district
Paw Paw
High school district
Paw Paw
Directions
CORNER OF E MICHIGAN & HASTINGS E of downtown PawPaw Village
Subdivision
Greater Kalamazoo - K
Standard status
Pending
APN
804170000810 & 804170000801
Size
3,696 SF
Lot size
0.99 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
2008-A 7-3-13 752-896 673-19 1194-103 1373-788 1625-189 *** BEG AT NE COR OF HASTINGS ADD, TH N 1 DEG W ALG EXT OF E L
Tax Annual Amount
3362
Legal Description
2008-A 7-3-13 752-896 673-19 1194-103 1373-788 1625-189 *** BEG AT NE COR OF HASTINGS ADD, TH N 1 DEG W ALG EXT OF E L
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Building Details
Year built
1950
Number of units
1
Building materials
Aluminum Siding
Roof type
Metal
Listing Agency:
Premier Properties of Southwest Michigan LLC
(269) 806-7069
Listed By:
Barbara Wagar Curley
(269) 217-9094
Added: Aug 11, 2025
Changed: Aug 4
Last Checked: Aug 7 at 6:06AM
MLS# 25040777
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial property in Paw Paw, MI, presents a wonderful opportunity for a visible business. The property features a storefront facing the highly visible E Michigan Avenue, also known as Red Arrow Highway, and includes a corner lot with a total acreage of 1.63 acres. A side street entry is available on Hastings Street. The property includes a pole barn with 3120 square feet and a loading dock. The front building, with a property size of 3696 square feet, is ready to be customized. The lot size is 0.99 acres.
Key Highlights
- High‑visibility corner lot location on E Michigan/Red Arrow Hwy.
- Large 1.63‑acre lot.
- 3120 sq ft pole barn with loading dock.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,180
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$463,600
$463.6K
Cap Rate 7%
$331,143
$331.1K
Cap Rate 9%
$257,556
$257.6K
Market Conditions
NOI Build-Up for 3,696 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.9K $7.56/SF
− Vacancy
−$671 −$0.18/SF
EGI
$27.3K $7.38/SF
− OpEx
−$4.1K −$1.11/SF
NOI
$23.2K $6.27/SF
Area
Van Buren County, MI
Vacancy
2.40%
Lease Rate
$7.56 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$463,600
Cap Rate 7%
$331,143
Cap Rate 9%
$257,556
Alternative Uses
Best Use
Retail
$548.1K
$479.6K – $639.5K
NOI $38,368 @ 7.0% cap · market cap 11.81%
Second Best
Warehouse
$331.1K
$289.8K – $386.3K
NOI $23,180 @ 7.0% cap · market cap 7.14%
Theoretical Best
Multifamily LT 5
$45.70M
$39.99M – $53.32M
NOI $3,199,029 @ 7.0% cap · market cap 984.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49079, MI
13,766
Population
6,019
Households
2.3
Avg Household Size
42
Median Age
25%
College-Educated
93%
High-School Grad
83.4 sq mi
ZIP Area
165
Density / Sq Mi
$72,119
Median Household Income
$41,376
Median Earnings
$841
Median Rent
$214,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Tuttle Floral Co. — 33108 Red Arrow Hwy, Paw Paw, MI 49079
Frequently Asked Questions
What type of property is this?
Storefront property - Visible storefront with acreage and pole barn near Red Arrow.
Where is this storefront property located?
The property is located at 1022 E Michigan Avenue Paw Paw, MI.
What is the asking price?
The asking price for this property is $324,814.
What are key features of this property?
This property features: High‑visibility corner lot location on E Michigan/Red Arrow Hwy.; Large 1.63‑acre lot.; 3120 sq ft pole barn with loading dock.
