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    Downtown Hastings Storefront with Redevelopment Potential Title is generated by Realmo AI

    130 W State Street, Hastings, MI 49058

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    Claim this Listing
    For Sale
    $699,000

    COMMERCIAL - Hastings, MI

    Type:Retail
    Property size:
    7,588 SF
    Lot size:
    0.20 Acres
    Price / SF:
    $92/SF
    Added:
    Mar 5, 2026
    Days on Market:
    74
    Last Refresh:
    May 18 at 2:06 am

    Property Features for 130 W State Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Bathrooms
    1
    Rooms
    Bathroom 1
    Standard status
    Active
    APN
    55-201-120-00
    Size
    7,588 SF
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Lengthy legal description in listing office.
    Tax Annual Amount
    4976

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1856
    Floors in Building
    1
    Number of units
    3

    We can help!

    Listing Contact
    Michael G Kothe

    Listing agent Michael G Kothe

    Listing office Real Estate Plus 16835 Eagle Lake Dr., Holland, MI

    Listing date Mar 5, 2026

    MLS# 26008407

    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.

    HighLights

    • Triple storefront in downtown Hastings with redevelopment potential.
    • Includes three suites: 126, 130, and 134 W. State St.
    • Suite at 126 W. State St. dates back to 1856 and features an upper floor suitable for conversion to living space.
    • Grant funds may be available for facade improvements and residential conversion.
    • All three suites have full basements for abundant storage.
    • Seller may consider selling the three spaces separately.

    Overview

    This commercial property features a triple storefront located in downtown Hastings, Michigan, offering significant redevelopment potential. The property, a successful retail space for many decades, includes 126, 130, and 134 W. State St. The easternmost suite, located at 126 W. State St., dates back to 1856 and includes an upper floor with grand windows that could be converted back to living space. All three suites have full basements providing abundant storage. The property size is 7588 square feet, situated on a lot of 0.2 acres. The new owner may qualify for grant funds to improve both the street and rear facades. Plus, there may be grant funds available to return the upper floor of 126 W. State St. to residential use. The seller may entertain selling the three spaces separately.
    Location Intelligence

    Current Use by Public Records

    Millbrook Service Computer & Electronic Repair West Michigan Works! Employment Agency King's Appliance & Mattress ... Home Appliance Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Barlow Florist — 109 W State St, Hastings, MI 49058
    • Floral Designs of Hastings — 110 W State St, Hastings, MI 49058

    Location Insight

    • Map
    • Local Demand
    City
    Hastings
    County
    Barry
    State
    Michigan
    Longitude
    -85.288438
    Latitude
    42.648413

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    FAQs

    What type of property is this?
    Storefront property - Triple storefront in downtown Hastings with redevelopment opportunities.
    Where is this storefront property located?
    The property is located at 130 W State Street Hastings, MI.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: Triple storefront in downtown Hastings with redevelopment potential.; Includes three suites: 126, 130, and 134 W. State St.; **Suite at 126 W. State St. dates back to 1856 and features an upper floor suitable for conversion to living space.**
    (616) 299-3868
    We can help!
    Listing Contact
    Michael G Kothe
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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