Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    8603 Water St Montague, MI 49437

    Sponsored
    For Sale
    $189,000

    High-traffic location, endless possibilities.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    350
    This exceptional 0.46-acre commercial property at 8603 Water Street in Montague, Michigan, presents a remarkable investment opportunity. Situated in the heart of downtown Montague, this building boasts a prime location directly behind Ellenwood Landing Estates & Marina and the Public Boat Launch. Its proximity to the Montague Farmers & Artesian Markets and the Bike Trail ensures high visibility and foot traffic. The building's rich history includes serving as the Montague Post Office, a deli/convenience store, a fishing supply store, and an antique shop, demonstrating its adaptability and consistent appeal. The property's versatility allows for a wide range of commercial uses, from a single business to a potential duplex conversion. The asking price is $189,000. This is a chance to capitalize on the thriving Montague market and establish a successful business in a highly desirable location. The building's strategic placement offers unparalleled access to the area's recreational amenities and bustling community atmosphere. Don't miss this opportunity to own a piece of Montague's vibrant commercial landscape. The possibilities are as limitless as the potential of this exceptional property. Contact us today to schedule a showing.

    Property Features for 8603 Water St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    20,038 SF

    Building Details

    Year Built
    1983

    We can help!

    Listing Contact
    Mary Siemer

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Montague
    County
    Muskegon
    State
    Michigan
    Longitude
    -86.35704
    Latitude
    43.41495

    Nearby Comparable

    • $750,000
      3,641 SF

      Pub with Onsite Brewery

      Established pub with brewery in Montague, near Lake Michigan.
      4574 Dowling St, Montague, MI 49437
      View Details
    • $37,500
      0.03 Acres

      Ellenwood Landing Marina Slip

      Marina slip with amenities in gated Montague community.
      8560 Ellenwood Dr, Montague, MI 49437
      View Details
    • $525,000
      3,344 SF

      Downtown Montague Office Building For Sale

      3,344 SF office building in downtown Montague, Michigan.
      4534 Dowling St, Montague, MI 49437
      View Details
    • $955,000
      5,603 SF

      Established Pub in Whitehall, MI

      Popular pub in prime Whitehall location, suitable for downtown crowds.
      111 W Colby St, Whitehall, MI 49461
      View Details
    • $325,000
      3,120 SF

      Restaurant Opportunity in Downtown Whitehall

      Restaurant business for sale with real estate and equipment.
      212 E Colby St, Whitehall, MI 49461
      View Details
    • $450,000
      9,000 SF

      Downtown Whitehall Church - $450K

      Historic Church, 9,000 SF, ADA Accessible
      117 Division St, Whitehall, MI 49461
      View Details
    • $320,000
      0.23 Acres

      Whitehall Four-Unit Investment Property

      Renovated four-unit property near White Lake and downtown Whitehall.
      218 N Baldwin St, Whitehall, MI 49461
      View Details
    • $197,200
      1,500 SF

      Customizable Garage Condos Near Lake Michigan

      Premium garage condos for storage, work, or recreation near White Lake.
      5070 Industrial Park Dr, Montague, MI 49437
      View Details
    • $399,000
      2,491 SF

      Montague Industrial Building For Sale

      2,400 SF commercial building in Montague Industrial Park.
      5114 Industrial Park Rd, Montague, MI 49437
      View Details

    Nearby Similar for Sale

    • $425,000
      20.00 Acres

      20-Acre Horse Property Near Lake Michigan

      Horse property with indoor arena, stable, and fenced pastures.
      Flower Rd, Montague, MI 49437
      View Details
    • $625,000
      40.00 Acres

      40-Acre Horse Property Near Lake Michigan

      Horse property with indoor arena, stables, and tillable acreage.
      Flower Rd, Montague, MI 49437
      View Details
    • $197,200
      1,500 SF

      Customizable Garage Condos Near Lake Michigan

      Premium garage condos for storage, work, or recreation near White Lake.
      5070 Industrial Park Dr, Montague, MI 49437
      View Details
    • $37,500
      0.03 Acres

      Ellenwood Landing Marina Slip

      Marina slip with amenities in gated Montague community.
      8560 Ellenwood Dr, Montague, MI 49437
      View Details
    • $525,000
      3,344 SF

      Downtown Montague Office Building For Sale

      3,344 SF office building in downtown Montague, Michigan.
      4534 Dowling St, Montague, MI 49437
      View Details
    • $100,000
      10.62 Acres

      Land in Montague, Michigan

      Vacant land available in Montague, Michigan.
      W Meinert Rd, Montague, MI 49437
      View Details
    • $750,000
      3,641 SF

      Pub with Onsite Brewery

      Established pub with brewery in Montague, near Lake Michigan.
      4574 Dowling St, Montague, MI 49437
      View Details
    • $399,000
      2,491 SF

      Montague Industrial Building For Sale

      2,400 SF commercial building in Montague Industrial Park.
      5114 Industrial Park Rd, Montague, MI 49437
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - High-traffic location, endless possibilities.
    Where is this commercial real estate located?
    The property is located at 8603 Water St Montague, MI.
    What is the asking price?
    The asking price for this property is $189,000.
    (231) 893-4444
    Request Owner's contact information
    8603 Water St Montague, MI 49437
    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.
    8603 Water St
    Montague, MI 49437
    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
    8603 Water St Montague, MI 49437
    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 Siemer
    (231) 893-4444
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.