Retail Condominium
1324 W State Street, Belding, MI 48809
For Sale
New
$475,000
Electrical and plumbing rough-ins are in place, with utilities available at the site.
Property Size1,980 SF
Price / SF$239.90
Days on Market4
Property Features for 1324 W State Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Utilities to Site
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Berkshire Hathaway HomeServices Kee Realty
Listed By:
Frank Jajou · License MI #440153
(248) 709-6696
Source:
Homeflexrealty
Added: Nov 10
Changed: Nov 11
Last Checked: Nov 13 at 1:24PM
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
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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.
Retail condominium space in a complex built in 2005 offers flexibility to finish and occupy all or part of the available space. Electrical and plumbing have been roughed in, and utilities are at the site. Individual units have separate tax IDs, with the possibility of purchasing a single unit.
Key Highlights
- Retail condominium complex built in 2005
- Electrical and plumbing rough‑ins are in place
- Utilities are at the site
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
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
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
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
26k
Monthly Visits Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Electrical and plumbing rough-ins are in place, with utilities available at the site.
Where is this retail space located?
The property is located at 1324 W State Street 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: Retail condominium complex built in 2005; Electrical and plumbing rough‑ins are in place; Utilities are at the site
