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    Mixed-Use Building in Downtown Douglas

    98 W Center Street Douglas, MI 49406

    98 W Center Street, Douglas, MI, 49406
    $1,490,000
    For Sale
    Claim this Listing
    $1,490,000

    COMMERCIAL - Douglas, MI

    Property Size4,548 SF
    Lot Size0.20 Acres
    Price / SF$327.62
    AddedApr 8
    Days on Market100
    Last RefreshJul 16 at 11:06 am

    Property Features for 98 W Center Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Bathrooms
    4
    Rooms
    Bathroom 4, Basement, Bathroom 3, Bathroom 2, Bathroom 1
    Parking
    6
    Interior features
    Broadband
    Standard status
    Active
    APN
    59-551-002-00
    Size
    4,548 SF
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    Lot 2 Block 1 Spencer's Addition
    Tax Annual Amount
    24400

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Floors in Building
    3
    Number of units
    6
    Building materials
    Concrete, Wood Siding
    Roof type
    Composition

    Listing agent Rob P Joon License #6501290168

    Listing office Jaqua Realtors 202 Center Street Ste. 1, Portage, MI

    Listing date Apr 8, 2026

    MLS# 26014228

    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 three-story mixed-use commercial/residential building is located in the heart of downtown Douglas. The property offers flexibility and income potential. Remodeled in 2025, the building was relocated onto a new foundation in 2002. It features three apartments approved for either short-term or long-term rentals. The main floor is configured as two commercial retail units, with the option to reconfigure into one to three spaces to suit business needs. Recent improvements include a new one-bedroom lower-level apartment with a patio and additional unfinished rooms. The property offers an ideal owner-occupant or investment opportunity. The lower unit can be occupied while generating income from the remaining residential and commercial spaces. Additional highlights include six private parking spaces and a prime downtown location with multiple revenue streams. Tenants are responsible for utilities. All appliances are included. The lot size is 0.2 acres. The property size is 4548 square feet, located in Allegan County.

    Key Highlights

    • Prime downtown location with multiple revenue streams.
    • Three apartments approved for short‑term rentals.
    • Six private parking spaces.

    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 $70.4k $15.48
    − Vacancy −$3.0k −$0.65
    EGI $67.4k $14.83
    − OpEx −$20.2k −$4.45
    NOI $47.2k $10.38
    4,548 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $674.5K
    $590.2K – $786.9K (±1% cap)
    NOI $47,212 @ 7.0% cap · market cap 3.17%
    Second Best
    Apartment 5plus
    $416.9K
    $364.8K – $486.4K (±1% cap)
    NOI $29,186 @ 7.0% cap · market cap 1.96%
    Theoretical Best
    Hotel Hospitality
    $42.71M
    $37.37M – $49.83M (±1% cap)
    NOI $2,989,729 @ 7.0% cap · market cap 200.65%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Water Street Gallery Art Gallery

    Suggested Use

    Locksmith (Bike/Boat/Book/etc) Store Dental Office Bakery (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Computer & Electronic Repair (Bike/Boat/Book/etc) Store Florist Storage Facility

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

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    FAQs

    What type of property is this?
    Mixed-use property - Three-story commercial/residential building with income potential in downtown Douglas.
    Where is this mixed-use property located?
    The property is located at 98 W Center Street Douglas, MI.
    What is the asking price?
    The asking price for this property is $1,490,000.
    What are key features of this property?
    This property features: Prime downtown location with multiple revenue streams.; Three apartments approved for short‑term rentals.; Six private parking spaces.
    Contact an agent
    (616) 836-2816
    We can help!
    Contact an agent
    Rob P Joon
    Rob P Joon
    Real Estate License ID: 6501290168
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