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    Mixed-Use Property with Income Potential Title is generated by Realmo AI

    13434 M 40, Gobles, MI 49055

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    Versatile property featuring salon, apartment, and pole barn.

    Type:Retail, Office
    Property size:
    1,630 SF
    Price / SF:
    $150/SF
    Added:
    May 21, 2026
    Days on Market:
    8
    Last Refresh:
    May 27 at 8:20 am

    Property Features for 13434 M 40

    General Information

    Standard status
    Active
    Size
    1,630 SF
    Property subtype
    Retail, Office

    Building Details

    Year Built
    1975

    We can help!

    Listing Contact
    Greg Miller

    Listing agent Greg Miller License #MI 6502368101

    Listing office Berkshire Hathaway HomeServices Michigan Real Estate Portage

    Listing date May 21, 2026

    Source Crexi

    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 Michigan Real Estate Portage

    HighLights

    • Multiple income streams from salon chair rentals, apartment rental, and potential pole barn rental.
    • Versatile pole barn with bay doors, office space, bathroom, heat, A/C, and separate well/septic, suitable for commercial/industrial use.
    • Fully operational 5‑chair salon, providing immediate income potential.
    • One‑bedroom apartment with existing rental income.
    • Flexible mixed‑use potential, including conversion of salon space.
    • Well‑maintained property suitable for investment or owner‑user.

    Overview

    This mixed-use property presents an opportunity for investment or owner-occupancy, offering multiple income streams and flexible usage possibilities. The well-maintained building includes a fully operational 5-chair salon, a one-bedroom apartment, and a pole barn. The pole barn features bay doors, dedicated office space, and storage or workshop area. Currently, two salon chairs are leased on a week-to-week basis at $120 per week per chair. The apartment is rented month-to-month at $740 per month, with an estimated market rent potential of $850 to $900 per month. The pole barn is presently vacant but has historically generated up to $900 per month in rental income. The pole barn is equipped with its own well and septic system, along with a full bathroom, heat, and central air, making it suitable for various commercial or light industrial uses. The salon space offers flexibility for conversion into professional office space, another small business venture, or a second residential unit, subject to local approvals. The property's size is 1630 square feet. The seller is open to negotiating the sale of the salon items. This property offers versatility and opportunity for investors seeking income potential or entrepreneurs looking for a live-work setup.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $188.0K
    NOI $16,921 @ 9.00% cap · cautious / downside scenario
    Moderate
    $241.7K
    NOI $16,921 @ 7.00% cap · market / base-case scenario
    Aggressive
    $338.4K
    NOI $16,921 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Retail

    Component $ $/SF
    Gross rent $25.2k $15.48
    − Vacancy −$1.1k −$0.65
    EGI $24.2k $14.83
    − OpEx −$7.3k −$4.45
    NOI $16.9k $10.38
    1,630 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $241.7K
    $211.5K – $282.0K (±1% cap)
    NOI $16,921 @ 7.0% cap · market cap 6.91%
    Second Best
    Office B
    $238.7K
    $208.8K – $278.5K (±1% cap)
    NOI $16,707 @ 7.0% cap · market cap 6.82%
    Theoretical Best
    Multifamily LT 5
    $20.15M
    $17.64M – $23.51M (±1% cap)
    NOI $1,410,827 @ 7.0% cap · market cap 575.85%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Big Box & Wholesale Store Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gobles
    County
    Van Buren
    State
    Michigan
    Longitude
    -85.87915
    Latitude
    42.36888

    Nearby Similar for Sale

    • $245,000
      1,630 SF

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      Versatile mixed-use property with income potential in Gobles, Michigan.
      13434 M 40, Gobles, MI 49055
      View Details
    • $189,900

      Gobles Duplex with New Roof

      Duplex in the heart of Gobles with a new roof.
      207 N State Street, Gobles, MI 49055
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Versatile property featuring salon, apartment, and 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 $245,000.
    What are key features of this property?
    This property features: Multiple income streams from salon chair rentals, apartment rental, and potential pole barn rental.; Versatile pole barn with bay doors, office space, bathroom, heat, A/C, and separate well/septic, suitable for commercial/industrial use.; Fully operational 5‑chair salon, providing immediate income potential.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Greg Miller
    Real Estate License ID: MI 6502368101
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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