Retail and Office Building with Pole
For Sale
$350,000
1141 26th Street, Allegan, MI 49010
COMMERCIAL - Allegan, MI
Property Size4,121 SF
Lot Size1.40 Acres
Price / SF$84.93
Days on Market50
Property Features for 1141 26th Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Allegan
Middle school district
Allegan
High school district
Allegan
Directions
From Allegan head East on Marshall Street/M89 to corner of 26th street and M89
Standard status
Active
APN
21-001-022-00
Size
4,121 SF
Lot size
1.40 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BEG INT M-89 & W LN SEC 1 TH S 00DEG 53'31'' W 308.7'; TH S 89DEG 06'29'' E 239.06'; TH N 04DEG 52'10'' E 201.87' TO C/L
Tax Annual Amount
6573
Legal Description
BEG INT M-89 & W LN SEC 1 TH S 00DEG 53'31'' W 308.7'; TH S 89DEG 06'29'' E 239.06'; TH N 04DEG 52'10'' E 201.87' TO C/L
Utilities
Utilities
Natural Gas Available
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air, Window Unit(s)
Water source
Well
Building Details
Year built
1996
Floors in Building
1
Number of units
1
Building materials
Vinyl Siding, Metal Siding
Roof type
Metal, Composition
Listing Agency:
RE/MAX Executive
(269) 673-3800
Listed By:
Brad W Houser · License #6501429174
(269) 492-5358
Added: Jun 23
Changed: Aug 4
Last Checked: Aug 10 at 11:06PM
MLS# 26031244
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 commercial property for sale includes a 4,121 SF retail/office building on a 1.4-acre site, along with a 30' x 40' pole barn and extensive paved parking. The layout is designed to support a combination of showroom/office space with additional outbuilding storage.
The property is located at 1141 26th Street in Allegan, Michigan, on M-89, as described by the listing. Access and maneuvering space are part of the overall site configuration for staff, customers, and deliveries.
The offering includes flexibility in transaction structure, and the listing notes that a land contract may be considered for well-qualified buyers. All measurements, zoning, and utilities are to be verified by the buyer or tenant.
The property is located at 1141 26th Street in Allegan, Michigan, on M-89, as described by the listing. Access and maneuvering space are part of the overall site configuration for staff, customers, and deliveries.
The offering includes flexibility in transaction structure, and the listing notes that a land contract may be considered for well-qualified buyers. All measurements, zoning, and utilities are to be verified by the buyer or tenant.
Key Highlights
- 1.4‑acre commercial site on M‑89 in Allegan, MI
- 4,121 SF retail/office building plus a 30' x 40' pole barn
- Extensive paved parking with room for staff, customers, and deliveries
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
$23,401
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
6.69%
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%
$468,020
$468.0K
Cap Rate 7%
$334,300
$334.3K
Cap Rate 9%
$260,011
$260.0K
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
−$4.1K −$1.00/SF
NOI
$23.4K $5.68/SF
Area
Allegan County, MI
Vacancy
2.90%
Lease Rate
$6.88 /SF/Yr
Expense Ratio
15.00%
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%
$468,020
Cap Rate 7%
$334,300
Cap Rate 9%
$260,011
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
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Retail space - For sale on M-89 in Allegan, featuring a retail/office building, a 30' x 40' pole barn, and extensive paved parking.
Where is this retail 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/office building plus a 30' x 40' pole barn; Extensive paved parking with room for staff, customers, and deliveries
