Mixed-Use Property with Commercial
For Sale
$399,900
124 Brooklyn Road, Napoleon, MI 49261
COMMERCIAL - Napoleon, MI
Property Size3,111 SF
Lot Size0.63 Acres
Price / SF$128.54
Days on Market38
Property Features for 124 Brooklyn Road
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
10
Elementary school district
Napoleon
Middle school district
Napoleon
High school district
Napoleon
Standard status
Active
APN
000-14-36-477-018-00
Size
3,111 SF
Lot size
0.63 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BEG AT INTERSECTION OF STONEY LAKE RD WITH THE E LN OF SEC 36 TH W ALGCEN LN OF SD RD 145 FT TO A PT FOR POB OF THIS DES
Tax Annual Amount
2929
Legal Description
BEG AT INTERSECTION OF STONEY LAKE RD WITH THE E LN OF SEC 36 TH W ALGCEN LN OF SD RD 145 FT TO A PT FOR POB OF THIS DES
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1960
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
The Brokerage House
(517) 788-8733
Listed By:
JENIFER SCANLON · License #6506047254
(734) 664-6789
Added: Jul 17
Changed: Aug 4
Last Checked: Aug 23 at 4:06PM
MLS# 26036895
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 for-sale mixed-use property at 124 Brooklyn Road in Napoleon, MI includes main-floor commercial space of 1,052 square feet with a fully equipped commercial kitchen, with kitchen equipment included. An additional 912 square foot upper apartment is currently occupied by a long-term tenant paying $1,400 per month, providing supplemental income.
Set on a 0.63-acre lot with oversized parking and monument signage, the property is designed for convenient customer access and visibility. Reported improvements include a newer roof, fresh exterior paint, updated electrical, new AC, two tankless water heaters, and major kitchen system upgrades.
The combination of turnkey commercial kitchen infrastructure and an income-producing upper unit offers a flexible setup for food-focused operations requiring on-site preparation space.
Set on a 0.63-acre lot with oversized parking and monument signage, the property is designed for convenient customer access and visibility. Reported improvements include a newer roof, fresh exterior paint, updated electrical, new AC, two tankless water heaters, and major kitchen system upgrades.
The combination of turnkey commercial kitchen infrastructure and an income-producing upper unit offers a flexible setup for food-focused operations requiring on-site preparation space.
Key Highlights
- Mixed‑use property with 1,052 SF main‑floor commercial space plus a 912 SF upper apartment
- Main‑floor commercial space includes a fully equipped commercial kitchen and all kitchen equipment
- Upper apartment is occupied by a long‑term tenant paying $1,400/month
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
$29,559
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
7.39%
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%
$591,180
$591.2K
Cap Rate 7%
$422,271
$422.3K
Cap Rate 9%
$328,433
$328.4K
Market Conditions
NOI Build-Up for 3,111 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
$42.9K $13.80/SF
− Vacancy
−$3.5K −$1.13/SF
EGI
$39.4K $12.67/SF
− OpEx
−$9.9K −$3.17/SF
NOI
$29.6K $9.50/SF
Area
Jackson County, MI
Vacancy
8.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
25.00%
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%
$591,180
Cap Rate 7%
$422,271
Cap Rate 9%
$328,433
Alternative Uses
Best Use
Specialty Retail
$422.3K
$369.5K – $492.7K
NOI $29,559 @ 7.0% cap · market cap 7.39%
Second Best
Mixed Use
$368.3K
$322.3K – $429.7K
NOI $25,782 @ 7.0% cap · market cap 6.45%
Theoretical Best
Office A
$496.6K
$434.6K – $579.4K
NOI $34,764 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
26k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Dining 10%
Exxon
Shops & Services
14,142 visits/mo
0.2 miles
Dollar General
Shops & Services
7,272 visits/mo
0.3 miles
SUBWAY
Dining
2,615 visits/mo
0.1 miles
BP
Shops & Services
1,813 visits/mo
0.1 miles
Demographics for 49261, MI
356
Population
103
Households
3.5
Avg Household Size
35
Median Age
20%
College-Educated
77%
High-School Grad
0.7 sq mi
ZIP Area
509
Density / Sq Mi
$89,063
Median Household Income
$218,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - For sale in Napoleon, MI: main-floor commercial space with a fully equipped kitchen plus an upstairs leased apartment.
Where is this mixed-use property located?
The property is located at 124 Brooklyn Road Napoleon, MI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Mixed‑use property with 1,052 SF main‑floor commercial space plus a 912 SF upper apartment; Main‑floor commercial space includes a fully equipped commercial kitchen and all kitchen equipment; Upper apartment is occupied by a long‑term tenant paying $1,400/month
