Downtown Plainwell Office
For Sale
$419,000
131 N Main St Unit 2, Plainwell, MI 49080
Professional office spaces in the heart of downtown Plainwell.
Property Size3,067 SF
Price / SF$136.62
Days on Market178
Property Features for 131 N Main St Unit 2
General Information
Standard status
Active
Size
3,067 SF
Building Details
Year Built
1900
Listing Agency:
Jaqua, REALTORS
Listed By:
Roger A Lynch
(269) 267-2820
Source:
Katie-k
Added: Apr 27
Changed: Oct 5
Last Checked: Oct 7 at 12:53PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office complex is situated in downtown Plainwell, offering a professional setting for small businesses. Each unit includes a conference room, an open work area, and a private restroom. Large windows provide natural light, contributing to a bright work environment. The property allows for signage opportunities. It is conveniently located near restaurants and shopping, with a city-owned and maintained parking lot providing easy access. The location has a walk score of 64, indicating it is somewhat walkable, and a bike score of 42, meaning it is somewhat bikeable.
Key Highlights
- Prime downtown Plainwell location.
- Professional office setting ideal for small businesses.
- Each unit includes a conference room, open work area, and private restroom.
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
Hotel Hospitality
$28.80M
$25.20M – $33.60M
NOI $2,016,161 @ 7.0% cap · market cap 481.18%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Professional office spaces in the heart of downtown Plainwell.
Where is this office building located?
The property is located at 131 N Main St Unit 2 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: Prime downtown Plainwell location.; Professional office setting ideal for small businesses.; Each unit includes a conference room, open work area, and private restroom.
