Mixed-Use Building with
For Sale
$199,500
111 N Main Street, Plainwell, MI 49080
Commercial Sale, Plainwell, MI
Property Size2,192 SF
Lot Size0.03 Acres
Price / SF$91.01
Days on Market175
Property Features for 111 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
CBD
Bathrooms
1
Full bathrooms
1
Rooms
Basement, Bathroom 1
Elementary school district
Plainwell
Middle school district
Plainwell
High school district
Plainwell
Directions
E of US 131 on M-89 to corner of Main & Bridge (M-89) (NW corner)
Standard status
Active
APN
55-160-012-00
Size
2,192 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Attached as external document.
Tax Annual Amount
3501
Legal Description
Attached as external document.
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Building materials
Brick, Stone
Roof type
Rubber
Listing Agency:
Greenridge Cornell & Associates
(269) 685-5866
Listed By:
Wendy Conner
(269) 492-5172
Added: Apr 14
Changed: Oct 4
Last Checked: Oct 5 at 11:06PM
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.
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
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.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
457
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
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Market
Vacancy Rate% for Retail in Midwest region
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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
