Two-Unit Multi-Family
2389 N State Road Ionia, MI 48846
2389 N State Road, Ionia, MI, 48846
$299,900
For Sale
$299,900
MULTI_FAMILY - Ionia, MI
Property Size1,450 SF
Lot Size3.68 Acres
Price / SF$206.83
Days on Market380
Property Features for 2389 N State Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Rooms
- Basement, Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 2
- Parking
- 20
- Basement
- Full
- Standard status
- Active
- APN
- 051-001-000-095-22
- Size
- 1,450 SF
- Lot size
- 3.68 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- COM 290 FT S OF E 1/4 COR OF SEC, TH S 275 FT, W 581 FT, N 275 FT, E 581 FT TO POB. SEC 1-7-7
- Tax Annual Amount
- 2319
Utilities
- Utilities
- Cable Available
- Sewer type
- Septic Tank
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Well
Building Details
- Year built
- 1985
- Number of units
- 6
- Building materials
- Vinyl Siding
- Roof type
- Metal
Listing Agency
Greenridge Realty (Ionia)
(616) 527-3720
2031 S State Rd, Suite C, Grand Rapids, MI
Listed by
Darin K Elliott
(616) 902-2235
Added: Jul 2, 2025 Checked: Jul 16 at 5:06 pm
MLS# 26011690
Listing URL
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 two-bath multi-family property offers flexibility to operate as a single home or as a two-unit configuration. The home includes a full basement with double mechanicals and dedicated washer/dryer areas. For added convenience, the property features a central vac system, and it is supported by a Generac generator. A surveillance system is also in place, and the metal roof is described as newer.
Set on 3.68 acres, the property includes an outdoor fenced-in dog park area with electronic card-reader access. The site is located on high-traffic N State Road near M-66, and the listing notes high-speed internet availability.
This setup can fit operators looking for an adjustable live-in or income-producing arrangement, with basement space and in-unit laundry areas already incorporated into the design. The controlled-access dog park can also support tenant amenities where allowed and desired. The property is described as well cared for, with the listed mechanical and security features intended to support day-to-day usability across the full site.
Set on 3.68 acres, the property includes an outdoor fenced-in dog park area with electronic card-reader access. The site is located on high-traffic N State Road near M-66, and the listing notes high-speed internet availability.
This setup can fit operators looking for an adjustable live-in or income-producing arrangement, with basement space and in-unit laundry areas already incorporated into the design. The controlled-access dog park can also support tenant amenities where allowed and desired. The property is described as well cared for, with the listed mechanical and security features intended to support day-to-day usability across the full site.
Key Highlights
- 1985‑built home with vinyl siding, forced‑air heating, and central air conditioning
- Metal roof (newer) and approx. 1,450 sq ft with 2 bathrooms; can be used as a single home or 2‑unit property
- Full basement with double mechanicals plus dedicated washer/dryer area
Local Financial Insights For Retail
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 | $21.8k | $15.00 |
| − Vacancy | −$1.5k | −$1.05 |
| EGI | $20.2k | $13.95 |
| − OpEx | −$6.1k | −$4.19 |
| NOI | $14.2k | $9.76 |
1,450 SF · lease $15.00/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$202.3K
$177.0K – $236.0K
NOI $14,159 @ 7.0% cap · market cap 4.72%
Second Best
Industrial
$96.9K
$84.8K – $113.0K
NOI $6,781 @ 7.0% cap · market cap 2.26%
Theoretical Best
Specialty Retail
$276.3K
$241.8K – $322.4K
NOI $19,341 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Particular Pets
Pet Grooming Service
Similar For Sale Nearby
FAQs
What type of property is this?
Parking lot & garage - Flexible layout with a full basement, newer metal roof, and fenced dog-park area with controlled access.
Where is this parking lot & garage located?
The property is located at 2389 N State Road Ionia, MI.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1985‑built home with vinyl siding, forced‑air heating, and central air conditioning; Metal roof (newer) and approx. 1,450 sq ft with 2 bathrooms; can be used as a single home or 2‑unit property; Full basement with double mechanicals plus dedicated washer/dryer area
