Mixed-Use Building with
New
For Sale
$199,500
111 N Main Street, Plainwell, MI 49080
CBD-zoned space combines street-level retail with a separate-entry residence above.
Property Size2,192 SF
Price / SF$91.01
Days on Market5
Property Features for 111 N Main Street
General Information
Standard status
Active
Size
2,192 SF
Property subtype
Commercial
Zoning
CBD
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$3,500
Building Details
Building Size
2,192 SF
Year Built
1900
Buildings
1
Stories
2
Units
2
Listing Agency:
Greenridge Cornell & Associates
(269) 685-5866
Listed By:
Wendy Conner
(269) 492-5172
Source:
Buskardgroup
Added: Oct 19
Changed: Oct 22
Last Checked: Oct 22 at 2:13PM
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 Greenridge Cornell & Associates
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use property pairs a ground-floor retail area with a two-bedroom apartment upstairs. The retail space includes an open room with display windows along the front and side, two work rooms, and a half bath. A full basement provides additional storage, and the apartment has its own private entrance.
The main-floor heating boiler was state-inspected in March 2026. The apartment is served by a gas forced-air furnace. On-street parking is available, along with a city parking lot behind the building off Allegan St (M-89). The property is zoned CBD.
The main-floor heating boiler was state-inspected in March 2026. The apartment is served by a gas forced-air furnace. On-street parking is available, along with a city parking lot behind the building off Allegan St (M-89). The property is zoned CBD.
Key Highlights
- Street‑level retail area measures 1,096 sq. ft.
- Two‑bedroom apartment upstairs with a separate entrance
- Retail area has front and side display windows, two work rooms, and a half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,474
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$169,480
$169.5K
Cap Rate 7%
$121,057
$121.1K
Cap Rate 9%
$94,156
$94.2K
Market Conditions
NOI Build-Up for 2,192 SF
Gross rent
$15.1K $6.88/SF
− Vacancy
−$1.5K −$0.69/SF
EGI
$13.6K $6.19/SF
− OpEx
−$5.1K −$2.32/SF
NOI
$8.5K $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%
$169,480
Cap Rate 7%
$121,057
Cap Rate 9%
$94,156
Alternative Uses
Best Use
Retail
$325.1K
$284.4K – $379.3K
NOI $22,755 @ 7.0% cap · market cap 11.41%
Second Best
Mixed Use
$121.1K
$105.9K – $141.2K
NOI $8,474 @ 7.0% cap · market cap 4.25%
Theoretical Best
Hotel Hospitality
$20.59M
$18.01M – $24.02M
NOI $1,440,960 @ 7.0% cap · market cap 722.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
372
Businesses Nearby
Explore this area
Business Placement
Demographics for 49080, MI
15,994
Population
6,582
Households
2.4
Avg Household Size
42
Median Age
28%
College-Educated
94%
High-School Grad
77.4 sq mi
ZIP Area
207
Density / Sq Mi
$75,250
Median Household Income
$42,775
Median Earnings
$982
Median Rent
$234,400
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - CBD-zoned space combines street-level retail with a separate-entry residence above.
Where is this mixed-use property located?
The property is located at 111 N Main Street Plainwell, MI.
What is the asking price?
The asking price for this property is $199,500.
What are key features of this property?
This property features: Street‑level retail area measures 1,096 sq. ft.; Two‑bedroom apartment upstairs with a separate entrance; Retail area has front and side display windows, two work rooms, and a half bath
