Mixed-Use Building with
135 E Washington Street Freeland, MI 48623
New
For Sale
$164,900
COMMERCIAL - Freeland, MI
Property Size1,584 SF
Lot Size0.27 Acres
Price / SF$104.10
Days on Market2
Property Features for 135 E Washington Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- Size
- 1,584 SF
- Lot size
- 0.27 Acres
Building Details
- Year built
- 1910
Listing Agency:
NextHome Greater Tri-Cities
(989) 239-7545
Listed By:
Gina Rapin · License #SBR-6501373179
(989) 280-2720
Added: Jul 22
Changed: Jul 23
Last Checked: Jul 23 at 9:06PM
MLS# 50215810
Copyright © 2026 NextHome, Inc. 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 mixed-use building combines a flexible commercial layout with an upstairs residence. The main floor offers approximately 1,008 square feet of retail/office space designed to accommodate a range of business uses. The upper level features a one-bedroom, one-bath apartment with approximately 576 square feet of living space.
Recent updates include a newer roof, siding, water heater, and front porch. The property is listed as 1,584 square feet total on a 0.27-acre lot, supporting continued use as combined business and residential space.
With both commercial and residential components under one roof, the building is well-suited for owner-occupancy or rental arrangements that align with its existing configuration.
Recent updates include a newer roof, siding, water heater, and front porch. The property is listed as 1,584 square feet total on a 0.27-acre lot, supporting continued use as combined business and residential space.
With both commercial and residential components under one roof, the building is well-suited for owner-occupancy or rental arrangements that align with its existing configuration.
Key Highlights
- Mixed‑use property with main‑floor retail/office space (~1,008 sq ft) plus an upstairs 1‑bedroom, 1‑bath apartment (~576 sq ft)
- Versatile main level layout suitable for multiple business types, including professional offices, boutique retail, studio, or service‑based operations
- Recent updates include newer roof, siding, water heater, and front porch
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.8k | $14.40 |
| − Vacancy | −$2.3k | −$1.44 |
| EGI | $20.5k | $12.96 |
| − OpEx | −$7.7k | −$4.86 |
| NOI | $12.8k | $8.10 |
1,584 SF · lease $14.40/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$221.5K
$193.8K – $258.4K
NOI $15,503 @ 7.0% cap · market cap 9.40%
Second Best
Mixed Use
$183.3K
$160.4K – $213.8K
NOI $12,830 @ 7.0% cap · market cap 7.78%
Theoretical Best
Specialty Retail
$292.7K
$256.1K – $341.4K
NOI $20,486 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Live-work space
FAQs
What type of property is this?
Live-work space - Main-floor retail/office space with a separate one-bedroom apartment above, plus recent exterior updates.
Where is this live-work space located?
The property is located at 135 E Washington Street Freeland, MI.
What is the asking price?
The asking price for this property is $164,900.
What are key features of this property?
This property features: Mixed‑use property with main‑floor retail/office space (~1,008 sq ft) plus an upstairs 1‑bedroom, 1‑bath apartment (~576 sq ft); Versatile main level layout suitable for multiple business types, including professional offices, boutique retail, studio, or service‑based operations; Recent updates include newer roof, siding, water heater, and front porch
