Brick Mixed-Use
For Sale
$169,900
Pending
106 Locust Street, Allegan, MI 49010
Commercial Sale, Allegan, MI
Property Size3,300 SF
Lot Size0.06 Acres
Days on Market219
Property Features for 106 Locust Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C1 CBD
Bathrooms
1
Full bathrooms
1
Rooms
Basement, Bathroom 1
Interior features
Broadband
Elementary school district
Allegan
Middle school district
Allegan
High school district
Allegan
Directions
M89 to Hubbard Street left onto Locust.
Standard status
Pending
APN
51-205-019-00
Size
3,300 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
N 22.27 FT OF S 97.93 FT OF LOTS 267 & 268 ALSO N 10 FT OF S 75.66 FT OF W 30 FT OF LOT 267 O. P. SEC 28.
Tax Annual Amount
3334
Legal Description
N 22.27 FT OF S 97.93 FT OF LOTS 267 & 268 ALSO N 10 FT OF S 75.66 FT OF W 30 FT OF LOT 267 O. P. SEC 28.
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1880
Floors in Building
1
Number of units
2
Building materials
Brick
Roof type
Rubber
Listing Agency:
Coldwell Banker Sneller Real Estate
(269) 355-1919
Listed By:
Carol L Sneller · License #6502338165
(269) 720-0580
Added: Mar 2
Changed: Sep 22
Last Checked: Oct 7 at 6:06PM
MLS# 26007561
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,300-square-foot mixed-use building combines commercial space with upper-level residential redevelopment potential. Constructed in 1880, the property features brick materials, a rubber roof, forced-air heating, central air conditioning, broadband, and cable availability. The building also includes a basement and one bathroom.
Located at 106 Locust Street in Allegan’s historic downtown district, the property is near local shops, dining, and the Kalamazoo Riverfront. Its walkable downtown setting and visibility along an active commercial corridor support continued commercial use, residential conversion above, or a combination of both, subject to applicable approvals.
Located at 106 Locust Street in Allegan’s historic downtown district, the property is near local shops, dining, and the Kalamazoo Riverfront. Its walkable downtown setting and visibility along an active commercial corridor support continued commercial use, residential conversion above, or a combination of both, subject to applicable approvals.
Key Highlights
- 3,300‑square‑foot mixed‑use building
- 0.06‑acre lot at 106 Locust Street
- Built in 1880 with brick construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,757
Cap Rate
7.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,140
$255.1K
Cap Rate 7%
$182,243
$182.2K
Cap Rate 9%
$141,744
$141.7K
Market Conditions
NOI Build-Up for 3,300 SF
Gross rent
$22.7K $6.88/SF
− Vacancy
−$2.3K −$0.69/SF
EGI
$20.4K $6.19/SF
− OpEx
−$7.7K −$2.32/SF
NOI
$12.8K $3.87/SF
Area
Allegan County, MI
Vacancy
10.10%
Lease Rate
$6.88 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,140
Cap Rate 7%
$182,243
Cap Rate 9%
$141,744
Alternative Uses
Best Use
Retail
$489.4K
$428.2K – $571.0K
NOI $34,257 @ 7.0% cap · market cap 20.16%
Second Best
Mixed Use
$182.2K
$159.5K – $212.6K
NOI $12,757 @ 7.0% cap · market cap 7.51%
Theoretical Best
Hotel Hospitality
$30.99M
$27.12M – $36.16M
NOI $2,169,329 @ 7.0% cap · market cap 1,276.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
587
Businesses Nearby
14k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 81%
Dining 17%
Home Improvements & Furnishings 2%
Shell
Shops & Services
5,401 visits/mo
0.2 miles
Sunoco
Shops & Services
3,211 visits/mo
0.2 miles
Huntington Bank
Shops & Services
2,722 visits/mo
0.1 miles
Pizza Hut
Dining
2,431 visits/mo
0.1 miles
Andy's Ace Hardware
Home Improvements & Furnishings
219 visits/mo
0.3 miles
Demographics for 49010, MI
18,183
Population
7,222
Households
2.5
Avg Household Size
41
Median Age
18%
College-Educated
93%
High-School Grad
156.6 sq mi
ZIP Area
116
Density / Sq Mi
$72,361
Median Household Income
$42,133
Median Earnings
$1,061
Median Rent
$204,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic brick construction with central air, forced-air heat, and a basement.
Where is this mixed-use property located?
The property is located at 106 Locust Street Allegan, MI.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: 3,300‑square‑foot mixed‑use building; 0.06‑acre lot at 106 Locust Street; Built in 1880 with brick construction
