Mixed-Use Building with
For Sale
$975,000
102 W Colby St, Whitehall, MI 49461
Commercial occupancy is on the main floor, with residential space on the two upper levels.
Property Size9,600 SF
Price / SF$101.56
Days on Market8
Property Features for 102 W Colby St
General Information
Standard status
Active
Size
9,600 SF
Property subtype
Commercial
Zoning
B2
Additional Details
Mixed-Use Components
retail, residential
Taxes and HOA fees
Annual Taxes
$7,033
Amenities
sauna
catwalk
fire-safe room
ADA entrance
ADA bathroom
Building Details
Year Built
1922
Buildings
1
Stories
3
Units
2
Listing Agency:
Real Estate West
Listed By:
Thomas A Serio · License #6502431119
(231) 286-0102
Source:
Elliman
Added: Oct 30
Changed: Oct 31
Last Checked: Nov 4 at 11:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Estate West
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Investment Insights
Based on property information with market context.
This three-level mixed-use property combines a street-facing commercial suite with residential space above. The upper-floor loft includes a two-story great room with a kitchen, separate dry bar, music area, sauna, catwalk, bedroom, and full bath. A separate section has two bedroom spaces and another full bath, and the loft is heat-zoned independently. The main-floor suite has an ADA entrance from the rear public parking lot, an ADA bathroom, and an office layout currently configured as an escape room. Utilities for the commercial suite are separate from the loft. A full basement includes a fire-safe room and storage space.
The building is in downtown Whitehall, with the storefront on Colby Street and proximity to shops, breweries, restaurants, and offices. The upper-level great room has views of the water. The property is zoned B2 and residential, and the building dates to 1922; renovations retained original architectural elements while adding modern features.
The building is in downtown Whitehall, with the storefront on Colby Street and proximity to shops, breweries, restaurants, and offices. The upper-level great room has views of the water. The property is zoned B2 and residential, and the building dates to 1922; renovations retained original architectural elements while adding modern features.
Key Highlights
- Commercial storefront on Colby Street with rear ADA entrance and ADA bathroom
- Residential loft features a two‑story great room with water views
- Separate utilities serve the commercial suite and upper‑floor loft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,921
Cap Rate
8.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,658,420
$1.7M
Cap Rate 7%
$1,184,586
$1.2M
Cap Rate 9%
$921,344
$921.3K
Market Conditions
NOI Build-Up for 9,600 SF
Gross rent
$140.5K $14.64/SF
− Vacancy
−$7.9K −$0.82/SF
EGI
$132.7K $13.82/SF
− OpEx
−$49.8K −$5.18/SF
NOI
$82.9K $8.64/SF
Area
Muskegon County, MI
Vacancy
5.60%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,658,420
Cap Rate 7%
$1,184,586
Cap Rate 9%
$921,344
Alternative Uses
Best Use
Retail
$1.77M
$1.55M – $2.07M
NOI $124,099 @ 7.0% cap · market cap 12.73%
Second Best
Mixed Use
$1.18M
$1.04M – $1.38M
NOI $82,921 @ 7.0% cap · market cap 8.50%
Theoretical Best
Hotel Hospitality
$90.15M
$78.88M – $105.18M
NOI $6,310,774 @ 7.0% cap · market cap 647.26%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Dining 24%
Wesco
Shops & Services
8,826 visits/mo
0.2 miles
SUBWAY
Dining
4,105 visits/mo
0.1 miles
PNC Bank
Shops & Services
3,380 visits/mo
0.1 miles
Napa Auto Parts
Shops & Services
922 visits/mo
0.1 miles
Demographics for 49461, MI
9,295
Population
4,220
Households
2.2
Avg Household Size
47
Median Age
30%
College-Educated
97%
High-School Grad
43.2 sq mi
ZIP Area
215
Density / Sq Mi
$80,495
Median Household Income
$42,249
Median Earnings
$874
Median Rent
$245,600
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial occupancy is on the main floor, with residential space on the two upper levels.
Where is this mixed-use property located?
The property is located at 102 W Colby St Whitehall, MI.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Commercial storefront on Colby Street with rear ADA entrance and ADA bathroom; Residential loft features a two‑story great room with water views; Separate utilities serve the commercial suite and upper‑floor loft
