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    558 Water St Allegan, MI 49010

    • Retail space
    • 6,912 SF
    • 1.15 lot acres
    For Sale
    View listing
    $1,200,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2176580
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Andy's Ace Hardware / Hardware Store / Home Improvement Store

    Property Details for 558 Water St

    Lot size
    1.15 lot acres
    Property size
    6,912 SF
    Property type
    Retail space
    APN
    51-200-071-00
    APU
    5120007100

    Description

    This exceptional industrial property, located at 558 Water Street in Allegan, Michigan, offers a substantial 14,000 square feet of versatile space. Situated on a generous 2.85-acre lot, this property presents a significant opportunity for businesses seeking ample room for operations and expansion. The building's substantial size allows for a variety of uses, making it ideal for manufacturing, warehousing, distribution, or other industrial applications. The property's location in Allegan provides convenient access to transportation routes and essential infrastructure, facilitating efficient logistics and operations. The asking price for this expansive industrial property is $1,200,000. This represents a compelling investment opportunity in a thriving Michigan community. The property's size and location combine to offer a rare chance to acquire a significant industrial asset. Serious inquiries are encouraged to explore the potential of this exceptional property and its suitability for various industrial needs. The ample land provides room for potential expansion or outdoor storage, further enhancing its value and utility. This is a turnkey opportunity for a business seeking to establish or expand its operations in a strategic location. The property is ready for immediate occupancy, offering a seamless transition for any prospective buyer.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $340,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Allegan
    County
    Allegan
    State
    Michigan
    Longitude
    -85.8484
    Latitude
    42.5304
    CBSA code
    26090
    CBSA name
    HOLLAND, MI MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $9,707
    $22,000
    $230,300
    $252,300
    -
    $44,000
    $460,600
    $504,600

    Comparable in this City

    • Value Estimation
      $350,000
      4,240 SF

      133 Marshall St

      RETAIL STORES (PERSONAL SERVICES) • 4,240 SF
      133 Marshall St, Allegan, MI 49010-1624
      View Details
    • Value Estimation
      $335,000
      6,136 SF

      420 Western Ave

      STORE, RETAIL OUTLET • 6,136 SF
      420 Western Ave, Allegan, MI 49010-1242
      View Details
    • Value Estimation
      $340,000
      6,957 SF

      1608 Lincoln Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,957 SF
      1608 Lincoln Rd, Allegan, MI 49010-9410
      View Details
    • Value Estimation by Request
      1,400 SF

      1055 32nd St

      RETAIL STORES (PERSONAL SERVICES) • 1,400 SF
      1055 32nd St, Allegan, MI 49010-9157
      View Details
    • Value Estimation
      $295,000
      2,880 SF

      1277 Lincoln Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,880 SF
      1277 Lincoln Rd, Allegan, MI 49010-9172
      View Details
    • Value Estimation
      $320,000
      5,414 SF

      1166 Lincoln Rd

      RETAIL STORES (PERSONAL SERVICES) • 5,414 SF
      1166 Lincoln Rd, Allegan, MI 49010-9077
      View Details

    Similar Nearby for Sale

    • $129,900
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    • $180,000
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      Victorian Commercial Building in Downtown Allegan

      Two-story brick building with retail/office space and apartment potential.
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      Retail Center on Lincoln Road

      Retail center with development potential in Allegan, Michigan.
      1253 Lincoln Rd, Allegan, MI 49010
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    • $360,000
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      Downtown Allegan Mixed-Use Property

      Historic Victorian buildings, high rental potential.
      110-106 Locust St, Allegan, MI 49010
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    • $1,200,000
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      Allegan Retail Property - Riverfront

      Prime Allegan location, 14,000 sq ft, vacant.
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      Downtown Allegan Commercial Buildings For Sale

      Two commercial buildings in Allegan's historic district with renovation potential.
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    Similar Nearby for Lease

    • $10 SF/Yr
      4,000 SF

      Industrial Building Near M-89

      4,000 SF commercial building near M-89 in Allegan, MI.
      2569 111Th Ave, Allegan, MI 49010
      View Details
    • $10 SF/Yr
      2,400 SF

      New Construction Commercial Flex Space

      New construction flex space with office, bathroom, and radiant heat.
      3507 Babylon Rd, Allegan, MI 49010
      View Details
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    558 Water St
    Allegan, MI 49010
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    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
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