Brick Mixed-Use
For Sale
$184,900
Pending
110 Locust Street, Allegan, MI 49010
Commercial Sale, Allegan, MI
Property Size3,324 SF
Lot Size0.05 Acres
Days on Market216
Property Features for 110 Locust Street
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Basement
Interior features
Broadband
Elementary school district
Allegan
Middle school district
Allegan
High school district
Allegan
Directions
M89 to Hubbard Street East to Downtown. Left on Locust to address
Standard status
Pending
APN
51-205-018-00
Size
3,324 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
N 22.27' OF S 120.20' OF LOTS 267 & 268 O. P. SEC 28. TAX MAP: 0.05 AC
Tax Annual Amount
4162
Legal Description
N 22.27' OF S 120.20' OF LOTS 267 & 268 O. P. SEC 28. TAX MAP: 0.05 AC
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 4
Changed: Sep 16
Last Checked: Oct 6 at 8:06AM
MLS# 26008092
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 3,324-square-foot mixed-use property occupies a 0.05-acre site and was built in 1880. The brick building includes a main-level commercial area, basement, two bathrooms, broadband, central air, forced-air heating, cable availability, and a rubber roof. The existing commercial tenancy is an insurance agency, and the sale is subject to tenant rights.
The property is located at 110 Locust Street in downtown Allegan, near shops, restaurants, and the Kalamazoo Riverfront. The upper level has been identified for possible future residential improvement, while the adjoining property at 106 Locust Street is also available. The surrounding setting places the building within a central business corridor with established pedestrian and commercial activity.
The property is located at 110 Locust Street in downtown Allegan, near shops, restaurants, and the Kalamazoo Riverfront. The upper level has been identified for possible future residential improvement, while the adjoining property at 106 Locust Street is also available. The surrounding setting places the building within a central business corridor with established pedestrian and commercial activity.
Key Highlights
- 3,324‑square‑foot mixed‑use building on a 0.05‑acre site
- Main‑level commercial space leased to an insurance agency
- 1880 construction with brick exterior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,850
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$257,000
$257.0K
Cap Rate 7%
$183,571
$183.6K
Cap Rate 9%
$142,778
$142.8K
Market Conditions
NOI Build-Up for 3,324 SF
Gross rent
$22.9K $6.88/SF
− Vacancy
−$2.3K −$0.69/SF
EGI
$20.6K $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%
$257,000
Cap Rate 7%
$183,571
Cap Rate 9%
$142,778
Alternative Uses
Best Use
Office B
$523.1K
$457.7K – $610.3K
NOI $36,618 @ 7.0% cap · market cap 19.80%
Second Best
Mixed Use
$183.6K
$160.6K – $214.2K
NOI $12,850 @ 7.0% cap · market cap 6.95%
Theoretical Best
Hotel Hospitality
$31.22M
$27.31M – $36.42M
NOI $2,185,106 @ 7.0% cap · market cap 1,181.78%
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
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Main-level commercial space is leased to an insurance agency, subject to tenant rights.
Where is this mixed-use property located?
The property is located at 110 Locust Street Allegan, MI.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: 3,324‑square‑foot mixed‑use building on a 0.05‑acre site; Main‑level commercial space leased to an insurance agency; 1880 construction with brick exterior
