Mixed-Use Building with
For Sale
$645,000
132 N Main Street, Brooklyn, MI 49230
Main-level storefront paired with finished commercial space and an upstairs residential unit.
Property Size7,304 SF
Days on Market9
Property Features for 132 N Main Street
General Information
Standard status
Active
Size
7,304 SF
Total Parking Spaces
15
Property subtype
Commercial
Zoning
C-1
Taxes and HOA fees
Annual Taxes
$7,394
Building Details
Building Size
7,304 SF
Year Built
1940
Buildings
1
Stories
2
Units
3
Listing Agency:
The Brokerage House
(734) 664-6789
Listed By:
JENIFER SCANLON · License #6506047254
(734) 664-6789
Source:
Thebrokeragehouse
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 29 at 9:50PM
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.
Constructed in 1940, this mixed-use commercial building combines a Main Street storefront with an upstairs two-bedroom, one-bath apartment. The primary level also includes 3,000 square feet of finished space that can support professional, retail, or other commercial functions, subject to applicable requirements. The property is zoned C-1.
An owned parking lot provides 12–15 spaces, a practical feature for both the commercial operation and residential occupant. The address is 132 N Main Street in Brooklyn, Michigan, placing the building within the village’s Main Street setting and near boutiques, home décor shops, a pub, coffeehouses, dining options, wineries, golf courses, and lakes.
An owned parking lot provides 12–15 spaces, a practical feature for both the commercial operation and residential occupant. The address is 132 N Main Street in Brooklyn, Michigan, placing the building within the village’s Main Street setting and near boutiques, home décor shops, a pub, coffeehouses, dining options, wineries, golf courses, and lakes.
Key Highlights
- Main Street storefront with upstairs 2‑bedroom, 1‑bath apartment
- 3,000 sqft of finished commercial space on the main level
- 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
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
Property Profile
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Main-level 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 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: Main Street storefront with upstairs 2‑bedroom, 1‑bath apartment; 3,000 sqft of finished commercial space on the main level; Owned parking lot with 12‑15 spaces
