Building Details

Year Built 2005

Listing Agency: Berkshire Hathaway HomeServices Kee Realty

Listed By: Frank Jajou · License #6501440153 Show Phone

Source: Katie-k

Added: Jul 18 Changed: Oct 6 Last Checked: Oct 7 at 2:16PM

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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 Berkshire Hathaway HomeServices Kee Realty

Investment Insights

Based on property information with market context.

This 2005 commercial storefront condo complex provides approximately 7,920 square feet for finish-out and occupancy. The space can be acquired and completed as a whole or in part, with the possibility of purchasing an individual unit. Each unit carries its own tax ID, supporting separate ownership options within the complex. Electrical and plumbing have been roughed in, while utilities are already at the site.

The property fronts W State Street, identified as M-44, in Belding, Michigan. Commercial zoning supports the property’s intended commercial storefront configuration.

Key Highlights

• Approximately 7,920 square feet in a commercial storefront condo complex
• Individual units may be purchased separately
• Each unit has its own tax ID

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,335

Cap Rate

4.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$386,700 $386.7K

Cap Rate 7%

$276,214 $276.2K

Cap Rate 9%

$214,833 $214.8K

Market Conditions

NOI Build-Up for 1,980 SF

Gross rent

$29.7K $15.00/SF

− Vacancy

−$2.1K −$1.05/SF

EGI

$27.6K $13.95/SF

− OpEx

−$8.3K −$4.19/SF

NOI

$19.3K $9.76/SF

Area

Ionia County, MI

Vacancy

7.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$386,700

Cap Rate 7%

$276,214

Cap Rate 9%

$214,833

Alternative Uses

Best Use

Retail

$276.2K

$241.7K – $322.3K (±1% cap)

NOI $19,335 @ 7.0% cap · market cap 4.07%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$377.3K

$330.1K – $440.2K (±1% cap)

NOI $26,410 @ 7.0% cap · market cap 5.56%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Restaurant Pharmacy Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

96

Businesses Nearby

26k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 68% Shops & Services 25% Home Improvements & Furnishings 7%

McDonald's Dining

14,905 visits/mo 0.2 miles

Marathon Petroleum Shops & Services

4,540 visits/mo 0.2 miles

SUBWAY Dining

3,051 visits/mo 0.1 miles

O'Reilly Auto Parts Shops & Services

2,045 visits/mo 0.3 miles

Belding Hometown Hardware Home Improvements & Furnishings

1,833 visits/mo 0.3 miles

Demographics for 48809, MI

11,245

Population

4,612

Households

2.4

Avg Household Size

40

Median Age

17%

College-Educated

91%

High-School Grad

80.1 sq mi

ZIP Area

140

Density / Sq Mi

$67,172

Median Household Income

$38,610

Median Earnings

$839

Median Rent

$189,900

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

• Rosebud's Nursery and Landscape Center — 1135 W State St, Belding, MI 48809

Frequently Asked Questions

What type of property is this?

Storefront property - Commercial-zoned condo units offer flexible finish-out options with utilities located at the site.

Where is this storefront property located?

The property is located at 1324 W State St Belding, MI.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: Approximately 7,920 square feet in a commercial storefront condo complex; Individual units may be purchased separately; Each unit has its own tax ID