Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Coldwater Mixed-Use Property Title is generated by Realmo AI

    109 West Chicago Street, Coldwater, MI 49036

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Fully occupied mixed-use property in downtown Coldwater, Michigan.

    Type:Retail
    Property size:
    19,384 SF
    Price / SF:
    $54/SF
    Added:
    May 19, 2026
    Days on Market:
    10
    Last Refresh:
    May 20 at 5:01 am

    Property Features for 109 West Chicago Street

    General Information

    Standard status
    Active
    Size
    19,384 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1973

    We can help!

    Listing Contact
    Derek Wissner

    Listing agent Derek Wissner License #MI

    Listing office Callander Commercial

    Listing date May 19, 2026

    Source Crexi

    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 Callander Commercial

    HighLights

    • Fully occupied commercial property providing immediate income.
    • Located in the heart of downtown Coldwater, MI, offering high visibility and foot traffic.
    • Established tenant mix including Dally Tire & Cykel Bike Shop, Tibbits Opera, and Good, Better, Best Shop.
    • Each unit includes a full finished basement, increasing usable space and storage.
    • Strong walkability and long‑term investment appeal in a growing community.
    • Option to acquire individually or bundled with adjacent parcel at 117 West Chicago Street.

    Overview

    This three-unit mixed-use commercial property is located in downtown Coldwater, MI. The property is currently fully occupied by Dally Tire & Cykel Bike Shop, Tibbits Opera, and Good, Better, Best Shop. Each unit includes a full finished basement, which maximizes usable square footage and storage capacity. The property has established tenant mix that draws consistent foot traffic. The property is positioned in a vibrant downtown corridor, offering strong visibility, walkability, and long-term investment appeal in a growing community. The property size is 19384 square feet. It can be acquired individually or bundled with the adjacent parcel at 117 West Chicago Street.
    Location Intelligence

    Current Use by Public Records

    The Cykel Shop (Bike/Boat/Book/etc) Store Dally Tire Company (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Coldwater
    County
    Branch
    State
    Michigan
    Longitude
    -84.997386
    Latitude
    41.940145

    Nearby Similar for Sale

    • $275,000
      2,995 SF

      Turnkey Business Opportunity on US-12

      Commercial building with business opportunity on highly traveled US-12.
      354 W Chicago Street, Coldwater, MI 49036
      View Details
    • $179,900
      1,200 SF

      Renovated Commercial Building in Coldwater

      Turnkey 1,200 sq ft commercial building, versatile for various businesses.
      440 S Clay Street, Coldwater, MI 49036
      View Details
    • $329,900
      9,704 SF

      Turnkey Metal Fabrication Business Opportunity

      Metal fabrication business with building and equipment in Coldwater industrial park.
      169 Industrial Avenue, Coldwater, MI 49036
      View Details
    • $9,510,280

      Freestanding PNC Bank in Coldwater

      Single tenant PNC Bank for sale in Coldwater, Michigan.
      505 East Chicago St, Coldwater, MI 49036
      View Details
    • $179,900
      3,000 SF

      Commercial Property Near I-69

      Commercial property with living space and potential business opportunities.
      798 S Angola Road, Coldwater, MI 49036
      View Details
    • $1,300,000
      2,600 SF

      Coldwater Restaurant Opportunity For Sale

      Quick-serve restaurant on the main trade street.
      399 East Chicago Street, Coldwater, MI, 49036
      View Details
    • $199,900

      Downtown Duplex with Four-Car Garage

      Charming duplex in downtown Coldwater, MI with a four-car garage.
      Coldwater, MI 49036
      View Details
    • $350,000
      5,775 SF

      Versatile Building in Central Business

      5,775 SF building in Coldwater's Central Business District.
      117 West Chicago Street, Coldwater, MI 49036
      View Details
    • $300,000
      3,600 SF

      Downtown Coldwater Office Building

      Commercially zoned office building in downtown Coldwater.
      62 W Chicago Street, Coldwater, MI 49036
      View Details
    • $3,000,000
      45,271 SF

      Mixed-Use Property in Coldwater, MI

      Mixed-use property available for sale in Coldwater, Michigan.
      15 E Washington St, Coldwater, MI 49036
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Fully occupied mixed-use property in downtown Coldwater, Michigan.
    Where is this mixed-use property located?
    The property is located at 109 West Chicago Street Coldwater, MI.
    What is the asking price?
    The asking price for this property is $1,050,000.
    What are key features of this property?
    This property features: Fully occupied commercial property providing immediate income.; Located in the heart of downtown Coldwater, MI, offering **high visibility and foot traffic.**; Established tenant mix including Dally Tire & Cykel Bike Shop, Tibbits Opera, and Good, Better, Best Shop.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Derek Wissner
    Real Estate License ID: MI
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    109 West Chicago Street, Coldwater, MI 49036
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!