Downtown Allegan Mixed-Use
245 Hubbard Street Allegan, MI 49010
245 Hubbard Street, Allegan, MI, 49010
$750,000
For Sale
$750,000
COMMERCIAL - Allegan, MI
Property Size6,072 SF
Lot Size0.07 Acres
Price / SF$123.52
Days on Market178
Property Features for 245 Hubbard Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Bathrooms
- 5
- Rooms
- Bathroom 4, Bathroom 5, Basement, Bathroom 3, Bathroom 2, Bathroom 1
- Parking
- 2
- Interior features
- Broadband
- Standard status
- Active
- APN
- 03-51-305-047-00
- Size
- 6,072 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- THE NLY 65.5 FT OF WLY 1/2 LOT 298 & ALSO NLY 65.5' OF ELY 18.5' LOT 299 ORIGINAL PLAT SEC 28 T2N R13W TAX MAP: 0.06 AC
- Tax Annual Amount
- 9406
Utilities
- Utilities
- Cable Available
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1900
- Number of units
- 4
- Building materials
- Brick
- Roof type
- Rubber
Listing Agency
Weichert REALTORS Plat Allegan
(269) 512-6290
223 Hubbard, Allegan, MI
Listed by
Benjamin M Otis · License #6502390146
(616) 275-2998
Added: Jan 21 Checked: Jul 18 at 4:06 am
MLS# 26002654
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.
Located in downtown Allegan, this redeveloped mixed-use building presents an opportunity for investors or business owners. The property includes ground-floor retail or office space featuring street visibility, large display windows, and foot traffic. The upper level contains renovated residential units equipped with stone countertops, stainless appliances, and fixtures. An outdoor deck offers views of the Kalamazoo River and local events. Ample parking is available nearby. The location provides access to shops, restaurants, and community events. The property is suitable for expanding a portfolio or starting a business in a downtown setting. The building has a total size of 6072 square feet and is situated on a 0.07-acre lot.
Key Highlights
- Unrivaled enormous outdoor deck space with Kalamazoo River views.
- Newly renovated residential units with stone countertops and stainless appliances.
- Prime downtown Allegan location with high foot traffic and street visibility.
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 | $94.0k | $15.48 |
| − Vacancy | −$3.9k | −$0.65 |
| EGI | $90.0k | $14.83 |
| − OpEx | −$27.0k | −$4.45 |
| NOI | $63.0k | $10.38 |
6,072 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$900.5K
$787.9K – $1.05M
NOI $63,033 @ 7.0% cap · market cap 8.40%
Second Best
Apartment 5plus
$556.7K
$487.1K – $649.4K
NOI $38,966 @ 7.0% cap · market cap 5.20%
Theoretical Best
Hotel Hospitality
$57.02M
$49.89M – $66.53M
NOI $3,991,565 @ 7.0% cap · market cap 532.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Transnation Title Agency ...
Title Company
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Redeveloped mixed-use building with retail and residential units.
Where is this mixed-use property located?
The property is located at 245 Hubbard Street Allegan, MI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Unrivaled enormous outdoor deck space with Kalamazoo River views.; Newly renovated residential units with stone countertops and stainless appliances.; Prime downtown Allegan location with high foot traffic and street visibility.
