Mixed-Use Building with
111 N Main Street, Plainwell, MI 49080
For Sale
$199,500
Commercial Sale, Plainwell, MI
Property Size2,192 SF
Lot Size0.03 Acres
Price / SF$91.01
Days on Market211
Property Features for 111 N Main Street
General Information
Property type
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Zoning description
Bathrooms
Full bathrooms
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Elementary school district
Middle school district
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Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
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Legal Description
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Building Details
Year built
Floors in Building
Number of units
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Listing Agency:
Greenridge Cornell & Associates
(269) 685-5866
Listed By:
Wendy Conner
(269) 492-5172
Added: Apr 14
Changed: Oct 22
Last Checked: Nov 10 at 5:06PM
MLS# 26015276
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.
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Investment Insights
Based on property information with market context.
This brick-and-stone mixed-use building contains 2,192 square feet on a 0.03-acre parcel. The ground floor includes a 1,096-square-foot open retail area, two workrooms, a half bath, and a full basement for storage. Display windows face the front and side of the space. A two-bedroom apartment above has its own entrance.
The property is at 111 N Main Street in downtown Plainwell. On-street parking is available, with a city parking lot behind the building, accessed from Allegan Street (M-89). The building dates to 1900. The main-floor boiler was state-inspected in March 2026; the apartment has a gas forced-air furnace.
The property is at 111 N Main Street in downtown Plainwell. On-street parking is available, with a city parking lot behind the building, accessed from Allegan Street (M-89). The building dates to 1900. The main-floor boiler was state-inspected in March 2026; the apartment has a gas forced-air furnace.
Key Highlights
- Two‑bedroom apartment above the retail space, with a private entrance
- 2,192‑square‑foot building on a 0.03‑acre parcel
- Ground‑floor retail area measures 1,096 square feet and includes two workrooms 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
Office A
$461.3K
$403.6K – $538.1K
NOI $32,288 @ 7.0% cap · market cap 16.18%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
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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
$234,400
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Allegan County, MI
Properties on Market for Mixed-use properties in Allegan County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor retail space pairs with a two-bedroom apartment featuring a separate private entrance.
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: Two‑bedroom apartment above the retail space, with a private entrance; 2,192‑square‑foot building on a 0.03‑acre parcel; Ground‑floor retail area measures 1,096 square feet and includes two workrooms and a half bath
