Contiguous Mixed-Use Redevelopment
110 106 Locust Street Allegan, MI 49010
For Sale
$349,900
Pending
COMMERCIAL - Allegan, MI
Property Size6,600 SF
Days on Market150
Property Features for 110 106 Locust Street
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2
Interior features
Broadband
Standard status
Pending
APN
51-205-018-00
Size
6,600 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
* 2 parcels Combined see documents
Tax Annual Amount
7497
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1880
Number of units
4
Building materials
Brick
Roof type
Rubber
Listing Agency:
Coldwell Banker Sneller Real Estate
(269) 355-1919
Listed By:
Carol L Sneller · License #6502338165
(269) 720-0580
Added: Mar 2
Changed: Jul 25
Last Checked: Jul 30 at 4:06AM
MLS# 26007575
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.
For sale: two contiguous downtown properties located at 106 and 110 Locust Street in Allegan, Michigan, offered together as a combined redevelopment opportunity. The listing presents the project as having expanded potential through acquiring both neighboring buildings, providing flexibility for mixed-use redevelopment, commercial investment, or upper-level residential conversion.
The existing buildings are described as supporting a range of possibilities, including street-level commercial space with upper-level residential units, along with the option to pursue mixed-use concepts or phased improvements while maintaining income potential from existing commercial space.
The combined offering is listed at 6,600 square feet and is presented as a rare opportunity to reposition two adjacent downtown properties into a larger redevelopment project within Allegan’s downtown corridor.
The existing buildings are described as supporting a range of possibilities, including street-level commercial space with upper-level residential units, along with the option to pursue mixed-use concepts or phased improvements while maintaining income potential from existing commercial space.
The combined offering is listed at 6,600 square feet and is presented as a rare opportunity to reposition two adjacent downtown properties into a larger redevelopment project within Allegan’s downtown corridor.
Key Highlights
- Two contiguous downtown properties at 106 and 110 Locust Street offered together for redevelopment flexibility
- Brick construction with forced air heating and central air cooling
- Rubber roof and broadband available
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.4k | $6.88 |
| − Vacancy | −$4.6k | −$0.69 |
| EGI | $40.8k | $6.19 |
| − OpEx | −$15.3k | −$2.32 |
| NOI | $25.5k | $3.87 |
6,600 SF · lease $6.88/SF/yr · vacancy 10.10% · expense 37.50%
Alternative Uses
Best Use
Office B
$1.04M
$908.9K – $1.21M
NOI $72,708 @ 7.0% cap · market cap 20.78%
Second Best
Retail
$978.8K
$856.4K – $1.14M
NOI $68,514 @ 7.0% cap · market cap 19.58%
Theoretical Best
Hotel Hospitality
$61.98M
$54.23M – $72.31M
NOI $4,338,657 @ 7.0% cap · market cap 1,239.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two contiguous downtown properties at 106 and 110 Locust Street are offered together for mixed-use redevelopment potential.
Where is this mixed-use property located?
The property is located at 110 106 Locust Street Allegan, MI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two contiguous downtown properties at 106 and 110 Locust Street offered together for redevelopment flexibility; Brick construction with forced air heating and central air cooling; Rubber roof and broadband available
