Multi-Suite Office
131 N Main Street, Plainwell, MI 49080
For Sale
$419,000
Commercial Sale, Plainwell, MI
Property Size3,067 SF
Lot Size0.09 Acres
Price / SF$136.62
Days on Market250
Property Features for 131 N Main Street
General Information
Property type
Property subtype
Zoning description
Bathrooms
Full bathrooms
Rooms
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Heating system
Building Details
Year built
Number of units
Building materials
Roof type
Buildings
Listing Agency:
Jaqua, REALTORS
(269) 341-4300
Listed By:
Roger A Lynch
(269) 267-2820
Added: Mar 6
Changed: Oct 30
Last Checked: Nov 10 at 5:06PM
MLS# 26008649
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.
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Investment Insights
Based on property information with market context.
This office complex contains 3,067 square feet on a 0.09-acre lot and dates to 1900. Each unit includes a conference room, open work area, and private restroom, while large windows bring natural light into the workspaces. The building has vinyl siding, forced-air heating, a composition roof, and phone service available.
Located at 131 N Main Street in downtown Plainwell, the property sits near restaurants and shopping. A city-owned and maintained parking lot is directly outside the building, providing convenient access for occupants and visitors. Signage opportunities are also available at the property.
Located at 131 N Main Street in downtown Plainwell, the property sits near restaurants and shopping. A city-owned and maintained parking lot is directly outside the building, providing convenient access for occupants and visitors. Signage opportunities are also available at the property.
Key Highlights
- 3,067‑square‑foot office complex on a 0.09‑acre lot
- Each unit includes a conference room, open work area, and private restroom
- Large windows provide natural light throughout the office spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,787
Cap Rate
8.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$675,740
$675.7K
Cap Rate 7%
$482,671
$482.7K
Cap Rate 9%
$375,411
$375.4K
Market Conditions
NOI Build-Up for 3,067 SF
Gross rent
$52.3K $17.04/SF
− Vacancy
−$7.2K −$2.35/SF
EGI
$45.0K $14.69/SF
− OpEx
−$11.3K −$3.67/SF
NOI
$33.8K $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 Rate 5%
$675,740
Cap Rate 7%
$482,671
Cap Rate 9%
$375,411
Alternative Uses
Best Use
Office B
$482.7K
$422.3K – $563.1K
NOI $33,787 @ 7.0% cap · market cap 8.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$645.4K
$564.7K – $752.9K
NOI $45,176 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
372
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Downtown setting with conference rooms, open work areas, and private restrooms in each unit.
Where is this office building located?
The property is located at 131 N Main Street Plainwell, MI.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: 3,067‑square‑foot office complex on a 0.09‑acre lot; Each unit includes a conference room, open work area, and private restroom; Large windows provide natural light throughout the office spaces
