Mixed-Use Property with Upstairs
New
For Sale
$250,000
Pending
124 E Bridge Street, Plainwell, MI 49080
COMMERCIAL - Plainwell, MI
Property Size3,655 SF
Lot Size0.09 Acres
Days on Market4
Property Features for 124 E Bridge Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
CBD
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 1, Bathroom 3, Bathroom 2
Interior features
Broadband
Elementary school district
Plainwell
Middle school district
Plainwell
High school district
Plainwell
Standard status
Pending
APN
55-100-015-20
Size
3,655 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
On File
Tax Annual Amount
7811
Legal Description
On File
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
1943
Floors in Building
2
Number of units
2
Building materials
Wood Siding, Brick
Roof type
Rubber
Listing Agency:
Jaqua, REALTORS
(269) 685-6858
Listed By:
Amy L Hamilton · License #6501343755
(269) 303-0709
Added: Aug 7
Changed: Aug 10
Last Checked: Aug 10 at 11:06PM
MLS# 26041398
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 mixed-use property combines a retail operation with an upstairs apartment. The 3,655-square-foot building includes a main-level customer area, kitchen, select equipment, three bathrooms, and a basement. The residential component can support owner occupancy, a live-work arrangement, or rental use. Construction includes wood siding and brick, with forced-air heat and a rubber roof.
Located at 124 E Bridge Street in downtown Plainwell, the property is surrounded by established businesses and community activity. Broadband interior service and cable availability are listed among the property’s utilities and features. Built in 1943, the building occupies a 0.09-acre site and offers a combined commercial and residential configuration.
Located at 124 E Bridge Street in downtown Plainwell, the property is surrounded by established businesses and community activity. Broadband interior service and cable availability are listed among the property’s utilities and features. Built in 1943, the building occupies a 0.09-acre site and offers a combined commercial and residential configuration.
Key Highlights
- 3,655‑square‑foot mixed‑use building with retail and residential components
- Upstairs apartment supports owner occupancy, live‑work use, or rental use
- Main level includes retail area, kitchen, and select equipment
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
$14,129
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
5.65%
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%
$282,580
$282.6K
Cap Rate 7%
$201,843
$201.8K
Cap Rate 9%
$156,989
$157.0K
Market Conditions
NOI Build-Up for 3,655 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
$25.1K $6.88/SF
− Vacancy
−$2.5K −$0.69/SF
EGI
$22.6K $6.19/SF
− OpEx
−$8.5K −$2.32/SF
NOI
$14.1K $3.87/SF
Area
Allegan County, MI
Vacancy
10.10%
Lease Rate
$6.88 /SF/Yr
Expense Ratio
37.50%
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%
$282,580
Cap Rate 7%
$201,843
Cap Rate 9%
$156,989
Alternative Uses
Best Use
Office B
$575.2K
$503.3K – $671.1K
NOI $40,265 @ 7.0% cap · market cap 16.11%
Second Best
Retail
$542.0K
$474.3K – $632.4K
NOI $37,942 @ 7.0% cap · market cap 15.18%
Theoretical Best
Hotel Hospitality
$34.32M
$30.03M – $40.04M
NOI $2,402,696 @ 7.0% cap · market cap 961.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Explore this area
Business Placement
Demographics for 49080, MI
15,994
Population
6,582
Households
2.4
Avg Household Size
42
Median Age
28%
College-Educated
94%
High-School Grad
77.4 sq mi
ZIP Area
207
Density / Sq Mi
$75,250
Median Household Income
$42,775
Median Earnings
$982
Median Rent
$234,400
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?
Mixed-use property - Main-level retail space includes a kitchen and select equipment.
Where is this mixed-use property located?
The property is located at 124 E Bridge Street Plainwell, MI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 3,655‑square‑foot mixed‑use building with retail and residential components; Upstairs apartment supports owner occupancy, live‑work use, or rental use; Main level includes retail area, kitchen, and select equipment
