Hastings Mixed-Use Investment
502 W State St Hastings, MI 49058
For Sale
$349,000
Three-unit property with mixed zoning in Hastings' vibrant PUD district.
Lot Size0.20 Acres
Days on Market143
Property Features for 502 W State St
General Information
Standard status
Active
Lot size
0.20 Acres
Property subtype
Commercial
Building Details
Year Built
1900
Listing Agency:
Elwood.Biz
(248) 568-5958
Listed By:
David Elwood
(248) 568-5958
Source:
Elliman
Added: Mar 10
Changed: Jul 6
Last Checked: Jul 29 at 7:06AM
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 Elwood.Biz
Investment Insights
Based on property information with market context.
This three-unit property in Hastings presents an investment opportunity with an 8.96% cap rate. Zoned for apartment, commercial, and office use, the property offers versatility for entrepreneurs, small business owners, or investors. The building is currently fully occupied by three tenants, including two one-bedroom units and one two-bedroom unit. Updates include two new hot water heaters and two new showers, as well as two new range ovens and two new refrigerators. The location provides proximity to downtown Hastings, including local establishments such as Walldorff Brewpub & Bistro and Seasonal Grille, along with the Barry County Courthouse. Daily conveniences are accessible with Family Fare Supermarket and Walgreens nearby. Thornapple River Walk and Tyden Park are also located within blocks of the property. The flexible zoning allows for potential uses such as a boutique office, creative studio, or continued use as a multi-family rental.
Key Highlights
- High Cap Rate: Offered at an impressive 8.96% Cap Rate, a strong investment opportunity.
- Flexible Zoning: Zoned for apartment, commercial, and office use, providing diverse options.
- Fully Occupied: Currently generating income with three tenant‑occupied units (two 1‑bedroom, one 2‑bedroom).
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with mixed zoning in Hastings' vibrant PUD district.
Where is this triplex located?
The property is located at 502 W State St Hastings, MI.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: High Cap Rate: Offered at an impressive 8.96% Cap Rate, a strong investment opportunity.; Flexible Zoning: Zoned for apartment, commercial, and office use, providing diverse options.; Fully Occupied: Currently generating income with three tenant‑occupied units (two 1‑bedroom, one 2‑bedroom).
