Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    246 Butler St Saugatuck, MI 49453

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $399,000

    High-demand Saugatuck industrial property.

    Property size:
    346 SF

    Property Features for 246 Butler St

    General Information

    Property type
    Industrial properties
    Square Feet
    346 SF

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Mary Beth Sons

    Listing Agency: Redzone Realty Group, LLC Listing Agent: Mary Beth Sons

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 346-square-foot industrial property at 246 Butler Street in Saugatuck, MI, presents a rare opportunity. Situated in a vibrant, year-round shopping district, this location boasts high foot traffic and proximity to family-run businesses, restaurants, wineries, tasting rooms, a cigar shop, entertainment venues, theaters, and art galleries. Its prime location is just a short distance from Saugatuck's picturesque marinas and Lake Michigan parks, ensuring high visibility and accessibility. The property has undergone a tasteful and comprehensive renovation, including a striking new block wall, a new front door, updated insulation, a new HVAC system, a completely remodeled bathroom featuring Kohler fixtures, a new water heater, fresh flooring, new drywall, and a new electrical system. This turnkey industrial space is ready for immediate occupancy and offers an unparalleled opportunity for businesses seeking a thriving location in a desirable community. The property's size, coupled with its recent upgrades and exceptional location, makes it an ideal investment for a variety of commercial ventures. Don't miss this chance to establish your business in the heart of Saugatuck.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Fat Cats Clothing Store

    Suggested Use

    Restaurant Law Firm Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Saugatuck
    County
    Allegan
    State
    Michigan
    Longitude
    -86.20435
    Latitude
    42.65643

    Nearby Similar for Sale

    • $1,295,000
      3,434 SF

      Saugatuck Multi-Family Investment Opportunity

      Premier multi-family property in downtown Saugatuck with harbor views.
      790 Lake St, Saugatuck, MI 49453
      View Details
    • $1,000,000
      3,690 SF

      Saugatuck Mixed-Use Prime Location

      Mixed-use property in downtown Saugatuck with commercial and residential units.
      133 Mason St, Saugatuck, MI 49453
      View Details
    • New
      $2,225,000
      9,176 SF

      Historic Mixed-Use Building in Saugatuck

      Historic brick building with residential and commercial rentals in downtown.
      439 Butler St, Saugatuck, MI 49453
      View Details
    • $252,900
      1,800 SF

      New Construction Flex Space Available

      New construction flex space with customizable options in Saugatuck.
      6319 Just A Mere Rd, Saugatuck, MI 49453
      View Details
    • $399,000
      2,460 SF

      Saugatuck Commercial Storage Unit For Sale

      New storage unit with upgraded features in Saugatuck, Michigan.
      6313 Just A Mere Rd, Saugatuck, MI 49453
      View Details
    • $316,900
      2,040 SF

      New Construction Flex Space Available

      New construction flex space with customizable options in Saugatuck.
      6319 Just A Mere Rd, Saugatuck, MI 49453
      View Details
    • $316,900
      2,040 SF

      New Construction Flex Space Available

      New construction flex space with customizable options in Saugatuck, MI.
      6323 Just A Mere Rd, Saugatuck, MI 49453
      View Details
    • $279,900
      1,800 SF

      New Construction Flex Space Available

      New construction flex space with customizable options in Saugatuck.
      6323 Just A Mere Rd, Saugatuck, MI 49453
      View Details
    • $297,900
      1,920 SF

      New Construction Flex Space Available

      New construction flex space with customizable options in Saugatuck.
      6323 Just A Mere Rd, Saugatuck, MI 49453
      View Details
    • $279,900
      1,800 SF

      New Construction Flex Space Available

      New 1800 SF flex space for sale in Saugatuck.
      6323 Just A Mere Rd, Saugatuck, MI 49453
      View Details
    • $297,900
      1,920 SF

      New Construction Flex Space Available

      New construction flex space with customizable options in Saugatuck.
      6319 Just A Mere Rd, Saugatuck, MI 49453
      View Details
    • $279,900
      1,800 SF

      New Construction Flex Space Available

      New construction flex space with customizable options in Saugatuck.
      6319 Just A Mere Rd, Saugatuck, MI 49453
      View Details

    FAQs

    What type of property is this?
    Industrial property - High-demand Saugatuck industrial property.
    Where is this industrial property located?
    The property is located at 246 Butler St Saugatuck, MI.
    What is the asking price?
    The asking price for this property is $399,000.
    (904) 414-2900
    Request Owner's contact information
    246 Butler St Saugatuck, MI 49453
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    246 Butler St
    Saugatuck, MI 49453
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    246 Butler St Saugatuck, MI 49453
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Mary Beth Sons
    (904) 414-2900
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!