Storefront with Paved
New
For Sale
$145,000
109 N State St, Gobles, MI 49055
A recently resurfaced parking area serves the commercial building along M40.
Property Size1,104 SF
Price / SF$131.34
Days on Market5
Property Features for 109 N State St
General Information
Standard status
Active
Size
1,104 SF
Zoning
commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Land Use
commercial
Amenities
large recently paved parking lot
Building Details
Year Built
1994
Buildings
1
Listing Agency:
Kalvan Realty
Listed By:
Dan Leonard · License #6501267074
(269) 377-2710
Source:
Katie-k
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 5 at 11:06PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kalvan Realty
Investment Insights
Based on property information with market context.
This storefront property includes a building constructed in 1994 and a recently paved parking lot. The commercial-zoned site is positioned along M40 state highway in Gobles, Michigan.
Key Highlights
- Commercial‑zoned storefront property
- Recently paved parking lot
- Located on M40 state highway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,461
Cap Rate
7.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$229,220
$229.2K
Cap Rate 7%
$163,729
$163.7K
Cap Rate 9%
$127,344
$127.3K
Market Conditions
NOI Build-Up for 1,104 SF
Gross rent
$17.1K $15.48/SF
− Vacancy
−$718 −$0.65/SF
EGI
$16.4K $14.83/SF
− OpEx
−$4.9K −$4.45/SF
NOI
$11.5K $10.38/SF
Area
Van Buren County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$229,220
Cap Rate 7%
$163,729
Cap Rate 9%
$127,344
Alternative Uses
Best Use
Retail
$163.7K
$143.3K – $191.0K
NOI $11,461 @ 7.0% cap · market cap 7.90%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$13.65M
$11.94M – $15.93M
NOI $955,554 @ 7.0% cap · market cap 659.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
119
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49055, MI
6,211
Population
3,197
Households
1.9
Avg Household Size
45
Median Age
18%
College-Educated
90%
High-School Grad
57.5 sq mi
ZIP Area
108
Density / Sq Mi
$65,717
Median Household Income
$40,838
Median Earnings
$878
Median Rent
$161,900
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - A recently resurfaced parking area serves the commercial building along M40.
Where is this storefront property located?
The property is located at 109 N State St Gobles, MI.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: Commercial‑zoned storefront property; Recently paved parking lot; Located on M40 state highway
