Live-Work Property with
For Sale
$239,900
13434 M 40, Gobles, MI 49055
Commercial Sale, Gobles, MI
Property Size1,630 SF
Lot Size1.00 Acre
Price / SF$147.18
Days on Market93
Property Features for 13434 M 40
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Elementary school district
Gobles
Middle school district
Gobles
High school district
Gobles
Directions
Heading east on S M43 Hwy, turn north onto M40 Hwy. Continue for 4.7 miles. Property is on the left.
Standard status
Active
APN
80-05-024-013-02
Size
1,630 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2026
Tax Description
See Documents
Tax Annual Amount
4815
Legal Description
See Documents
Utilities
Utilities
Natural Gas Available
Sewer type
Septic Tank
Heating system
Forced Air
Water source
Well
Building Details
Year built
1975
Floors in Building
2
Number of units
3
Listing Agency:
Berkshire Hathaway HomeServices MI
(269) 344-8599
Listed By:
Greg S Miller · License #6506043053
(269) 743-4817
Added: May 21
Changed: Aug 19
Last Checked: Aug 21 at 6:06PM
MLS# 26024012
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This live-work mixed-use property is well maintained and designed for multiple income streams. The building includes a fully operational 5-chair salon, with 2 chairs currently leased on a week-to-week basis at $120 per week per chair. It also includes a one-bedroom apartment rented on a month-to-month basis at $740 per month. A separate pole barn with bay doors provides additional flexibility, with dedicated office space and ample storage/workshop area.
The pole barn is currently vacant but has historically generated up to $900 per month in rental income. It is equipped with its own well and septic system separate from the main building, along with a full bathroom, heat, and central air, supporting a range of commercial or light industrial uses. The salon space offers flexibility for conversion into professional office space or other residential use, subject to local approvals. The seller is also open to negotiating the sale of the salon items.
Located at 13434 M 40 in Gobles, Michigan (Van Buren County), this property sits on 1 acre.
The pole barn is currently vacant but has historically generated up to $900 per month in rental income. It is equipped with its own well and septic system separate from the main building, along with a full bathroom, heat, and central air, supporting a range of commercial or light industrial uses. The salon space offers flexibility for conversion into professional office space or other residential use, subject to local approvals. The seller is also open to negotiating the sale of the salon items.
Located at 13434 M 40 in Gobles, Michigan (Van Buren County), this property sits on 1 acre.
Key Highlights
- Well‑maintained property built in 1975 with forced‑air heating, natural gas available, well water, and a septic tank
- Fully operational 5‑chair salon with 2 chairs leased week‑to‑week at $120/week per chair
- One‑bedroom apartment rented month‑to‑month at $740/month
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
$16,707
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
6.96%
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%
$334,140
$334.1K
Cap Rate 7%
$238,671
$238.7K
Cap Rate 9%
$185,633
$185.6K
Market Conditions
NOI Build-Up for 1,630 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
$27.8K $17.04/SF
− Vacancy
−$5.5K −$3.37/SF
EGI
$22.3K $13.67/SF
− OpEx
−$5.6K −$3.42/SF
NOI
$16.7K $10.25/SF
Area
Van Buren County, MI
Vacancy
19.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$334,140
Cap Rate 7%
$238,671
Cap Rate 9%
$185,633
Alternative Uses
Best Use
Apartment 5plus
$17.94M
$15.70M – $20.93M
NOI $1,255,937 @ 7.0% cap · market cap 523.53%
Second Best
Office B
$238.7K
$208.8K – $278.5K
NOI $16,707 @ 7.0% cap · market cap 6.96%
Theoretical Best
Multifamily LT 5
$20.15M
$17.64M – $23.51M
NOI $1,410,827 @ 7.0% cap · market cap 588.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
46
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Includes an operating 5-chair salon, a one-bedroom apartment, and a pole barn with office, storage, and utilities.
Where is this live-work space 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: Well‑maintained property built in 1975 with forced‑air heating, natural gas available, well water, and a septic tank; Fully operational 5‑chair salon with 2 chairs leased week‑to‑week at $120/week per chair; One‑bedroom apartment rented month‑to‑month at $740/month
