Auto Shop with Central
For Sale
$350,000
1141 26th Street, Allegan, MI 49010
Built in 1996, the property has central air and natural gas forced-air heating.
Property Size4,121 SF
Days on Market102
Property Features for 1141 26th Street
General Information
Standard status
Active
Size
4,121 SF
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$6,572
Amenities
Central Air, Window Unit(s)
Natural Gas, Forced Air
Gravel, Paved
Building Details
Building Size
4,121 SF
Year Built
1996
Buildings
2
Stories
1
Listing Agency:
RE/MAX Executive
Listed By:
Brad W Houser · License #6501429174
(269) 492-5358
Source:
Evrealestate
Added: Jun 23
Changed: Sep 28
Last Checked: Oct 1 at 11:20AM
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.
This auto shop was built in 1996 and features central air conditioning, natural gas, and forced-air heating. The exterior includes gravel and paved surfaces.
The property is at the corner of 26th Street and M-89 in Allegan, Michigan.
The property is at the corner of 26th Street and M-89 in Allegan, Michigan.
Key Highlights
- Auto shop property built in 1996
- Central air conditioning
- Natural gas with forced‑air heating
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
Retail
$611.1K
$534.8K – $713.0K
NOI $42,780 @ 7.0% cap · market cap 12.22%
Second Best
Industrial
$275.3K
$240.9K – $321.2K
NOI $19,271 @ 7.0% cap · market cap 5.51%
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
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Open Analytics
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
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
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Similar Off Market Nearby
- Joe's Lawn and Garden — 1141 26th St, Allegan, MI 49010
- Tom's Transmission & Auto Repair — 1177 Lincoln Rd, Allegan, MI 49010
- Rapa Electric Inc. — 1173 Lincoln Rd, Allegan, MI 49010
- Quality Quick Lube — 1283 lincoln rd, allegan, mi 49010
- Mobile Wrench Tire And Auto llc — 1210 Lincoln Rd, Allegan, MI 49010
Frequently Asked Questions
What type of property is this?
Auto shop - Built in 1996, the property has central air and natural gas forced-air heating.
Where is this auto shop 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: Auto shop property built in 1996; Central air conditioning; Natural gas with forced‑air heating
