Flex Property with Pole
For Sale
$350,000
1141 26th Street, Allegan, MI 49010
Commercial site pairs a showroom and office building with a separate pole barn and paved parking.
Property Size4,121 SF
Days on Market13
Property Features for 1141 26th Street
General Information
Standard status
Active
Size
4,121 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,572
Building Details
Building Size
4,121 SF
Year Built
1996
Buildings
2
Stories
1
Units
1
Listing Agency:
RE/MAX Executive
(269) 673-3800
Listed By:
Brad W Houser · License #6501429174
Source:
Erareardonrealty
Added: Aug 19
Changed: Aug 30
Last Checked: Aug 30 at 10:30PM
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 RE/MAX Executive
Investment Insights
Based on property information with market context.
Located at 1141 26th Street in Allegan, this 1.4-acre commercial property combines a 4,121 SF retail and office building with a detached 30' x 40' pole barn. The building supports showroom and office functions, while the outbuilding provides additional storage or operational space.
The property fronts M-89 and includes extensive paved parking with room for customer, employee, and delivery circulation. Built in 1996, the site offers a combination of enclosed commercial space, a separate utility building, and paved exterior areas within an established Allegan commercial setting.
The property fronts M-89 and includes extensive paved parking with room for customer, employee, and delivery circulation. Built in 1996, the site offers a combination of enclosed commercial space, a separate utility building, and paved exterior areas within an established Allegan commercial setting.
Key Highlights
- 1.4‑acre commercial site on M‑89 in Allegan, MI
- 4,121 SF retail and office building
- Detached 30' x 40' pole barn
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,271
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$385,420
$385.4K
Cap Rate 7%
$275,300
$275.3K
Cap Rate 9%
$214,122
$214.1K
Market Conditions
NOI Build-Up for 4,121 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$28.4K $6.88/SF
− Vacancy
−$822 −$0.20/SF
EGI
$27.5K $6.68/SF
− OpEx
−$8.3K −$2.00/SF
NOI
$19.3K $4.68/SF
Area
Allegan County, MI
Vacancy
2.90%
Lease Rate
$6.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$385,420
Cap Rate 7%
$275,300
Cap Rate 9%
$214,122
Alternative Uses
Best Use
Office B
$648.5K
$567.5K – $756.6K
NOI $45,398 @ 7.0% cap · market cap 12.97%
Second Best
Retail
$611.1K
$534.8K – $713.0K
NOI $42,780 @ 7.0% cap · market cap 12.22%
Theoretical Best
Hotel Hospitality
$38.70M
$33.86M – $45.15M
NOI $2,709,031 @ 7.0% cap · market cap 774.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Commercial site pairs a showroom and office building with a separate pole barn and paved parking.
Where is this flex space located?
The property is located at 1141 26th Street Allegan, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1.4‑acre commercial site on M‑89 in Allegan, MI; 4,121 SF retail and office building; Detached 30' x 40' pole barn
