C-2 Warehouse with Overhead
For Sale
$205,000
1231 Lincoln Road, Allegan, MI 49010
COMMERCIAL - Allegan, MI
Property Size2,888 SF
Lot Size0.79 Acres
Price / SF$70.98
Days on Market423
Property Features for 1231 Lincoln Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Allegan
Middle school district
Allegan
High school district
Allegan
Directions
-
Subdivision
Greater Kalamazoo - K
Standard status
Active
APN
01-035-029-00
Size
2,888 SF
Lot size
0.79 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
On file.
Tax Annual Amount
2498
Legal Description
On file.
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Water source
Well
Building Details
Year built
2019
Floors in Building
1
Number of units
1
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Connor Schultze · License #6501453214
(269) 370-6437
Added: Jun 16, 2025
Changed: Aug 4
Last Checked: Aug 12 at 10:06AM
MLS# 25028737
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.
Built in 2019, this 2,888-square-foot warehouse occupies approximately 0.791 acres and is configured for commercial use. The building includes two 14-foot overhead doors and a bathroom, providing functional warehouse infrastructure within a compact footprint.
The property is zoned C-2 General Commercial, supporting a range of warehouse and commercial applications. It is positioned along Lincoln Road, also designated M-89, with visibility from the roadway. Site services include a well, septic tank, and cable availability.
The property is zoned C-2 General Commercial, supporting a range of warehouse and commercial applications. It is positioned along Lincoln Road, also designated M-89, with visibility from the roadway. Site services include a well, septic tank, and cable availability.
Key Highlights
- 2,888 SF warehouse constructed in 2019
- Approximately 0.791 acres
- Two 14' overhead doors
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
$16,399
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
8.00%
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%
$327,980
$328.0K
Cap Rate 7%
$234,271
$234.3K
Cap Rate 9%
$182,211
$182.2K
Market Conditions
NOI Build-Up for 2,888 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
$19.9K $6.88/SF
− Vacancy
−$576 −$0.20/SF
EGI
$19.3K $6.68/SF
− OpEx
−$2.9K −$1.00/SF
NOI
$16.4K $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%
$327,980
Cap Rate 7%
$234,271
Cap Rate 9%
$182,211
Alternative Uses
Best Use
Warehouse
$234.3K
$205.0K – $273.3K
NOI $16,399 @ 7.0% cap · market cap 8.00%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$27.12M
$23.73M – $31.64M
NOI $1,898,491 @ 7.0% cap · market cap 926.09%
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
2
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 Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Xtra Stor — 1300 Lincoln Rd, Allegan, MI 49010
- Allegan Self Storage — 1234 Lincoln Rd #9405, Allegan, MI 49010
Frequently Asked Questions
What type of property is this?
Warehouse - 2019-built warehouse with commercial zoning, well and septic service, and direct exposure along Lincoln Road.
Where is this warehouse located?
The property is located at 1231 Lincoln Road Allegan, MI.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: 2,888 SF warehouse constructed in 2019; Approximately 0.791 acres; Two 14' overhead doors
