Historic Grainery Converted
For Sale
$425,000
721 E Bridge Street, Plainwell, MI 49080
COMMERCIAL - Plainwell, MI
Property Size5,142 SF
Lot Size0.15 Acres
Price / SF$82.65
Days on Market341
Property Features for 721 E Bridge Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 1, Bathroom 3, Bathroom 4, Basement
Interior features
Broadband
Elementary school district
Plainwell
Middle school district
Plainwell
High school district
Plainwell
Directions
M-89 east out of downtown Plainwell on north side of road next to Olde Mill restaurant
Subdivision
Greater Kalamazoo - K
Standard status
Active
APN
03-55-270-028-10
Size
5,142 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
see attached
Tax Annual Amount
4633
Legal Description
see attached
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1890
Floors in Building
3
Number of units
4
Building materials
Wood Siding
Roof type
Metal
Listing Agency:
Berkshire Hathaway HomeServices MI
(269) 673-3030
Listed By:
Cheri S Schulz · License #6502136063
(269) 720-4735
Added: Aug 26, 2025
Changed: Jul 25
Last Checked: Aug 1 at 8:06PM
MLS# 25050663
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.
A historic grainery has been converted into a three-unit townhouse building with incorporated original grainery features. The two upper-level townhouses each offer 2 bedrooms, 1 1/2 baths, in-unit laundry, and access to a rooftop patio. The main-level unit provides flexible use with a 1/2 bath plus living space, and includes a finished lower-level living area with a kitchen, full bath, and laundry, along with the potential for 2 bedrooms with minor modifications and a private patio.
The property is located at 721 E Bridge Street in Plainwell, Michigan, within Allegan County. The listing also references a separate parcel number, 03-55-270-028-00, and notes an additional historic caboose on the property that has been utilized as a rental/commercial unit.
The asset totals 3 units within the converted grainery structure and includes an on-site historic caboose used as a rental/commercial space. Redundant information is referenced in the listing remarks as MLS#25043254.
The property is located at 721 E Bridge Street in Plainwell, Michigan, within Allegan County. The listing also references a separate parcel number, 03-55-270-028-00, and notes an additional historic caboose on the property that has been utilized as a rental/commercial unit.
The asset totals 3 units within the converted grainery structure and includes an on-site historic caboose used as a rental/commercial space. Redundant information is referenced in the listing remarks as MLS#25043254.
Key Highlights
- Converted 1890 historic grainery offers a 3‑unit townhouse building plus a historic caboose used as a rental/commercial unit
- Two upper‑level townhouses each feature 2 bedrooms, 1 1/2 baths, in‑unit laundry, and access to a rooftop patio (same layout)
- Main‑level unit offers flexible use as a commercial space with a 1/2 bath or as living space, plus a finished lower‑level living area
Financial Insights For Multifamily LT 5
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 | $57.4k | $11.16 |
| − Vacancy | −$3.1k | −$0.59 |
| EGI | $54.3k | $10.57 |
| − OpEx | −$16.3k | −$3.17 |
| NOI | $38.0k | $7.40 |
5,142 SF · lease $11.16/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$543.3K
$475.4K – $633.9K
NOI $38,032 @ 7.0% cap · market cap 8.95%
Second Best
Apartment 5plus
$471.4K
$412.5K – $550.0K
NOI $32,998 @ 7.0% cap · market cap 7.76%
Theoretical Best
Hotel Hospitality
$48.29M
$42.25M – $56.34M
NOI $3,380,209 @ 7.0% cap · market cap 795.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Explore this area
Business Placement
Demographics for 49080, MI
15,994
Population
6,582
Households
2.4
Avg Household Size
42
Median Age
28%
College-Educated
94%
High-School Grad
77.4 sq mi
ZIP Area
207
Density / Sq Mi
$75,250
Median Household Income
$42,775
Median Earnings
$982
Median Rent
$234,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Historic grainery conversion offering three units, including two upper townhouses with rooftop patio access.
Where is this quadplex located?
The property is located at 721 E Bridge Street Plainwell, MI.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Converted 1890 historic grainery offers a 3‑unit townhouse building plus a historic caboose used as a rental/commercial unit; Two upper‑level townhouses each feature 2 bedrooms, 1 1/2 baths, in‑unit laundry, and access to a rooftop patio (same layout); Main‑level unit offers flexible use as a commercial space with a 1/2 bath or as living space, plus a finished lower‑level living area
