Locust St, Allegan, MI 49010
This exceptional investment opportunity presents two adjacent, historically significant commercial buildings situated in the heart of Allegan's vibrant downtown business district. These late 1800s structures boast original upper facades, showcasing their rich Victorian architectural heritage. Each building offers approximately 1650 square feet of street-level space, ideal for retail or office use, providing a combined total of approximately 3300 square feet of ground floor commercial space. A shared exterior staircase leads to the upper level, where two apartments are currently available. These apartments require renovation, presenting a significant value-add opportunity for a discerning investor. The property also includes full basements in both buildings, offering additional storage or potential for expansion. Located on a 0.05-acre lot, this property benefits from its central location within the historic district, ensuring high visibility and accessibility. The asking price for this unique dual-building property is $360,000, representing a compelling investment in a thriving Michigan community. The potential for rental income from both the commercial spaces and the renovated apartments makes this a strong addition to any portfolio. This is a rare chance to own a piece of Allegan's history and capitalize on its continued growth.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.