Mixed-Use Commercial Building with
For Sale
$645,000
132 N Main Street, Brooklyn, MI 49230
COMMERCIAL - Brooklyn, MI
Property Size7,304 SF
Lot Size0.39 Acres
Price / SF$88.31
Days on Market331
Property Features for 132 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C-1
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bathroom 1
Parking
15
Elementary school district
Columbia Central
Middle school district
Columbia Central
High school district
Columbia Central
Directions
From US-127 S onto Brooklyn Road straight to N Main Street
Subdivision
Jackson County - JX
Standard status
Active
APN
000-19-24-428-009-00
Size
7,304 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 10 EXC THE S 5 FT THEREOF ALSO ENTIRE LOT 12 ORIGINAL PLAT OF VILLAGE OF BROOKLYN
Tax Annual Amount
7394
Legal Description
LOT 10 EXC THE S 5 FT THEREOF ALSO ENTIRE LOT 12 ORIGINAL PLAT OF VILLAGE OF BROOKLYN
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1940
Floors in Building
2
Number of units
3
Building materials
Vinyl Siding, Brick
Listing Agency:
The Brokerage House
(517) 788-8733
Listed By:
JENIFER SCANLON · License #6501367704
(734) 664-6789
Added: Sep 19, 2025
Changed: Aug 4
Last Checked: Aug 15 at 5:06AM
MLS# 25048409
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.
Investment Insights
Based on property information with market context.
This mixed-use commercial building offers two income sources, with a finished second-floor apartment and commercial space on the main level. The upstairs unit features 2 bedrooms and 1 bathroom. On the main level, the property includes a storefront along with approximately 3,000 square feet of versatile finished space suitable for a range of professional uses.
The building is situated on the west side of the boulevard in Brooklyn, Michigan. An owned parking lot with approximately 12–15 spaces is included, an important convenience factor in a village setting where parking availability can be limited. The property is positioned among local retail and dining options, including boutiques, home decor shops, a pub, coffeehouses, and other businesses.
With both residential and commercial components, the layout supports owner-occupancy, leasing, or a mixed-use strategy while providing dedicated parking for tenants and customers.
The building is situated on the west side of the boulevard in Brooklyn, Michigan. An owned parking lot with approximately 12–15 spaces is included, an important convenience factor in a village setting where parking availability can be limited. The property is positioned among local retail and dining options, including boutiques, home decor shops, a pub, coffeehouses, and other businesses.
With both residential and commercial components, the layout supports owner-occupancy, leasing, or a mixed-use strategy while providing dedicated parking for tenants and customers.
Key Highlights
- Mixed‑use commercial building with an upstairs 2‑bedroom, 1‑bath apartment plus a Main Street storefront.
- Main level includes 3,000 SF of versatile finished space for office, retail, or other professional uses.
- Owned parking lot with 12–15 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
$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
Office B
$874.5K
$765.2K – $1.02M
NOI $61,213 @ 7.0% cap · market cap 9.49%
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Mixed-use building with a main-level storefront, upstairs apartment, and an owned parking lot for 12–15 vehicles.
Where is this storefront property located?
The property is located at 132 N Main Street 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: Mixed‑use commercial building with an upstairs 2‑bedroom, 1‑bath apartment plus a Main Street storefront.; Main level includes 3,000 SF of versatile finished space for office, retail, or other professional uses.; Owned parking lot with 12–15 spaces.
