Mixed-Use Building with
New
For Sale
$645,000
132 N Main St, Brooklyn, MI 49230
Main Street storefront paired with finished commercial space and an upstairs residential unit.
Property Size7,304 SF
Price / SF$88.31
Days on Market2
Property Features for 132 N Main St
General Information
Standard status
Active
Size
7,304 SF
Total Parking Spaces
15
Building Details
Year Built
1940
Listing Agency:
The Brokerage House
Listed By:
JENIFER SCANLON, Cori Baumann
Source:
Katie-k
Added: Sep 12
Last Checked: Sep 12 at 2:47PM
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 The Brokerage House
Investment Insights
Based on property information with market context.
Built in 1940, this 7,304-square-foot mixed-use building combines commercial and residential components. The upper level contains a finished 2-bedroom, 1-bath apartment, while the main floor includes a storefront and 3,000 square feet of finished space suitable for continued retail use or professional occupancy.
The property includes an owned parking lot with 12–15 spaces, a useful feature for both the commercial operation and residential component. Located at 132 N Main St in Brooklyn, Michigan, the building is positioned among boutiques, home décor shops, a pub, coffeehouses, dining options, wineries, golf courses, and lakes.
The property includes an owned parking lot with 12–15 spaces, a useful feature for both the commercial operation and residential component. Located at 132 N Main St in Brooklyn, Michigan, the building is positioned among boutiques, home décor shops, a pub, coffeehouses, dining options, wineries, golf courses, and lakes.
Key Highlights
- 7,304‑square‑foot mixed‑use building built in 1940
- Finished 2‑bedroom, 1‑bath apartment on the upper level
- Main‑level storefront with 3,000 sqft of finished 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
$50,371
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
7.81%
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%
$1,007,420
$1.0M
Cap Rate 7%
$719,586
$719.6K
Cap Rate 9%
$559,678
$559.7K
Market Conditions
NOI Build-Up for 7,304 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
$87.6K $12.00/SF
− Vacancy
−$15.7K −$2.15/SF
EGI
$72.0K $9.85/SF
− OpEx
−$21.6K −$2.96/SF
NOI
$50.4K $6.90/SF
Area
Jackson County, MI
Vacancy
17.90%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,007,420
Cap Rate 7%
$719,586
Cap Rate 9%
$559,678
Alternative Uses
Best Use
Mixed Use
$864.7K
$756.7K – $1.01M
NOI $60,532 @ 7.0% cap · market cap 9.38%
Second Best
Retail
$719.6K
$629.6K – $839.5K
NOI $50,371 @ 7.0% cap · market cap 7.81%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,618 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
80k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 24%
Home Improvements & Furnishings 19%
Hotels & Casinos 7%
McDonald's
Dining
18,290 visits/mo
0.2 miles
Big Boy
Dining
9,962 visits/mo
0.3 miles
Dollar General
Shops & Services
9,230 visits/mo
0.2 miles
Family Farm & Home
Home Improvements & Furnishings
8,660 visits/mo
0.3 miles
Taco Bell
Dining
6,729 visits/mo
0.3 miles
Demographics for 49230, MI
10,364
Population
6,108
Households
1.7
Avg Household Size
52
Median Age
27%
College-Educated
96%
High-School Grad
64.0 sq mi
ZIP Area
162
Density / Sq Mi
$81,052
Median Household Income
$52,448
Median Earnings
$1,116
Median Rent
$252,800
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 Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Main Street storefront paired with finished commercial space and an upstairs residential unit.
Where is this mixed-use property located?
The property is located at 132 N Main St Brooklyn, MI.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: 7,304‑square‑foot mixed‑use building built in 1940; Finished 2‑bedroom, 1‑bath apartment on the upper level; Main‑level storefront with 3,000 sqft of finished space
