Mixed-Use Property with
For Sale
Contact for pricing
Pending
124 E Bridge Street, Plainwell, MI 49080
Ground-floor retail space includes a kitchen and select equipment, with an upstairs apartment for residential use.
Property Size3,655 SF
Days on Market14
Property Features for 124 E Bridge Street
General Information
Standard status
Pending
Size
3,655 SF
Property subtype
Retail, Office
Building Details
Year Built
1943
Year Renovated
2020
Buildings
1
Units
2
Listing Agency:
Jaqua Realtors
(269) 303-0709
Listed By:
Amy Hamilton · License #MI
Source:
Crexi
Added: Aug 8
Changed: Aug 14
Last Checked: Aug 14 at 8:29AM
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 Jaqua Realtors
Investment Insights
Based on property information with market context.
This mixed-use property combines a ground-floor retail area with a functional kitchen and select equipment. The second level contains an apartment, creating a combination of commercial and residential space within the same building. Constructed in 1943, the property offers 3,655 square feet across its mixed-use configuration.
Located at 124 E Bridge Street in downtown Plainwell, the building is positioned among established businesses and community events, with local foot traffic in the surrounding area. The layout supports retail operations alongside residential occupancy or apartment rental use, subject to applicable requirements.
Located at 124 E Bridge Street in downtown Plainwell, the building is positioned among established businesses and community events, with local foot traffic in the surrounding area. The layout supports retail operations alongside residential occupancy or apartment rental use, subject to applicable requirements.
Key Highlights
- 3,655‑square‑foot mixed‑use property in downtown Plainwell
- Ground‑floor retail area with functional kitchen
- Select equipment included with the retail space
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
372
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 - Ground-floor retail space includes a kitchen and select equipment, with an upstairs apartment for residential use.
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 property in downtown Plainwell; Ground‑floor retail area with functional kitchen; Select equipment included with the retail space
