Flex Space with
For Sale
$425,000
1247 Lincoln Rd, Allegan, MI 49010
Flexible commercial layout with showroom, offices, storage, and an existing long-term tenant.
Property Size2,580 SF
Lot Size1.38 Acres
Price / SF$164.73
Days on Market9
Property Features for 1247 Lincoln Rd
General Information
Standard status
Active
Size
2,580 SF
Total Parking Spaces
30
Lot size
1.38 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Amenities
central A/C
abundant storage
specialized UV room
separately fenced back yards
Building Details
Year Built
1946
Buildings
1
Tenancy
Multi
Listing Agency:
RE/MAX Advantage
Listed By:
Nancy M Simmons
(269) 342-2618
Source:
Findmichiganhomelistings
Added: Sep 1
Changed: Sep 8
Last Checked: Sep 8 at 4:31AM
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 RE/MAX Advantage
Investment Insights
Based on property information with market context.
This flex-space property on approximately 1.38 acres includes a large central showroom or marketing area, two separate office spaces, cedar wall finishes, central A/C, abundant storage, and a specialized UV room. The building was constructed in 1946 and includes two separately fenced back yards along with approximately 30 parking spaces.
Located on Lincoln Road near M-89, the property combines customer-facing space with enclosed office and storage areas. One portion is occupied by a long-term tenant, while additional space remains available for an owner-user or another tenant.
Located on Lincoln Road near M-89, the property combines customer-facing space with enclosed office and storage areas. One portion is occupied by a long-term tenant, while additional space remains available for an owner-user or another tenant.
Key Highlights
- Approximately 1.38 acres on Lincoln Road near M‑89
- Large central showroom or marketing area with 2 separate office spaces
- Approximately 30 parking spaces
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
$28,422
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
6.69%
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%
$568,440
$568.4K
Cap Rate 7%
$406,029
$406.0K
Cap Rate 9%
$315,800
$315.8K
Market Conditions
NOI Build-Up for 2,580 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
$44.0K $17.04/SF
− Vacancy
−$6.1K −$2.35/SF
EGI
$37.9K $14.69/SF
− OpEx
−$9.5K −$3.67/SF
NOI
$28.4K $11.02/SF
Area
Allegan County, MI
Vacancy
13.80%
Lease Rate
$17.04 /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%
$568,440
Cap Rate 7%
$406,029
Cap Rate 9%
$315,800
Alternative Uses
Best Use
Office B
$406.0K
$355.3K – $473.7K
NOI $28,422 @ 7.0% cap · market cap 6.69%
Second Best
Retail
$382.6K
$334.8K – $446.4K
NOI $26,783 @ 7.0% cap · market cap 6.30%
Theoretical Best
Hotel Hospitality
$24.23M
$21.20M – $28.27M
NOI $1,696,021 @ 7.0% cap · market cap 399.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Balanced
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial layout with showroom, offices, storage, and an existing long-term tenant.
Where is this flex space located?
The property is located at 1247 Lincoln Rd Allegan, MI.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Approximately 1.38 acres on Lincoln Road near M‑89; Large central showroom or marketing area with 2 separate office spaces; Approximately 30 parking spaces
