Building Details

Year Built 1975

Listing Agency: Berkshire Hathaway HomeServices MI

Listed By: Greg S Miller · License #6506043053 Show Phone

Source: Vmrealestatemichigan

Added: Apr 9 Changed: Oct 1 Last Checked: Oct 9 at 8:12PM

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Investment Insights

Based on property information with market context.

This mixed-use property combines an operating five-chair salon, a one-bedroom apartment, and a pole barn with bay doors, office space, and workshop or storage area. The salon currently has two chairs leased. The apartment is occupied on a month-to-month basis, while the barn is vacant. Built in 1975, the property measures 1,630 in reported property size.

The pole barn has its own well and septic system, separate from the main building, as well as a full bathroom, heat, and central air. Salon furnishings may be available by negotiation.

Key Highlights

• Operating salon with five chairs; two chairs are currently leased
• One‑bedroom apartment occupied under a month‑to‑month arrangement
• Pole barn includes bay doors, office space, and workshop or storage area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,145

Cap Rate

7.56%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$362,900 $362.9K

Cap Rate 7%

$259,214 $259.2K

Cap Rate 9%

$201,611 $201.6K

Market Conditions

NOI Build-Up for 1,630 SF

Gross rent

$31.3K $19.20/SF

− Vacancy

−$3.4K −$2.07/SF

EGI

$27.9K $17.13/SF

− OpEx

−$9.8K −$5.99/SF

NOI

$18.1K $11.13/SF

Area

Van Buren County, MI

Vacancy

10.80%

Lease Rate

$19.20 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$362,900

Cap Rate 7%

$259,214

Cap Rate 9%

$201,611

Alternative Uses

Best Use

Flex RnD

$259.2K

$226.8K – $302.4K (±1% cap)

NOI $18,145 @ 7.0% cap · market cap 7.56%

Second Best

Office B

$238.7K

$208.8K – $278.5K (±1% cap)

NOI $16,707 @ 7.0% cap · market cap 6.96%

Theoretical Best

Multifamily LT 5

$20.15M

$17.64M – $23.51M (±1% cap)

NOI $1,410,827 @ 7.0% cap · market cap 588.09%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Live-work space

Suggested Use

Top Pick Real Estate Agency Building Supply Big Box & Wholesale Store Pharmacy Hair Salon Storage Facility

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

77

Businesses Nearby

Explore this area Business Placement

Demographics for 49055, MI

6,211

Population

3,197

Households

1.9

Avg Household Size

45

Median Age

18%

College-Educated

90%

High-School Grad

57.5 sq mi

ZIP Area

108

Density / Sq Mi

$65,717

Median Household Income

$40,838

Median Earnings

$878

Median Rent

$161,900

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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

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Frequently Asked Questions

What type of property is this?

Mixed-use property - An operating five-chair salon shares the property with a one-bedroom apartment and a separate pole barn.

Where is this mixed-use property located?

The property is located at 13434 M 40 Gobles, MI.

What is the asking price?

The asking price for this property is $239,900.

What are key features of this property?

This property features: Operating salon with five chairs; two chairs are currently leased; One‑bedroom apartment occupied under a month‑to‑month arrangement; Pole barn includes bay doors, office space, and workshop or storage area