Riverfront Mixed-Use
For Sale
$365,000
217 Hubbard Street, Allegan, MI 49010
Commercial Sale, Allegan, MI
Property Size3,030 SF
Lot Size0.05 Acres
Price / SF$120.46
Days on Market49
Property Features for 217 Hubbard Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Basement
Elementary school district
Allegan
Middle school district
Allegan
High school district
Allegan
Directions
From 131 take M-222 West into Allegan. Turn left onto Chestnut Street, turn left onto Hubbard Street. Destination will be on the right.
Standard status
Active
APN
03-51-305-025-00
Size
3,030 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
THE NLY 82.5 FT OF THE ELY 1/2 LOT 293 EX W 6 IN O. P. SEC 28 TAX MAP: 0.05 AC.
Tax Annual Amount
1293
Legal Description
THE NLY 82.5 FT OF THE ELY 1/2 LOT 293 EX W 6 IN O. P. SEC 28 TAX MAP: 0.05 AC.
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Water front
1
Building Details
Year built
1920
Floors in Building
3
Number of units
2
Building materials
Vinyl Siding, Brick
Listing Agency:
Weichert REALTORS Plat Allegan
(269) 512-6290
Listed By:
Benjamin M Otis
(616) 275-2998
Added: Sep 9
Changed: Oct 2
Last Checked: Oct 27 at 3:06AM
MLS# 26047868
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.
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Investment Insights
Based on property information with market context.
Built in 1920, this 3,030-square-foot mixed-use building offers three levels of functional space in downtown Allegan. The upper floor contains a one-bedroom, two-bath apartment with exposed brick, high ceilings, spiral ductwork, tall windows, updated flooring, and a modern kitchen. An open storefront occupies the main level, while the lower level provides walk-out access, exposed stone and brick, and additional space suitable for commercial use or storage.
The property is located at 217 Hubbard Street along the Kalamazoo Riverfront, with access from both the front and rear. Central Allegan positioning and proximity to the riverfront district support a range of live-work, retail, office, dining, and leasing configurations. The building features vinyl siding and brick construction, forced-air heating, central air, and cable availability.
The property is located at 217 Hubbard Street along the Kalamazoo Riverfront, with access from both the front and rear. Central Allegan positioning and proximity to the riverfront district support a range of live-work, retail, office, dining, and leasing configurations. The building features vinyl siding and brick construction, forced-air heating, central air, and cable availability.
Key Highlights
- 3,030‑square‑foot mixed‑use building on a 0.05‑acre lot
- One‑bedroom, two‑bath apartment on the upper level
- Open commercial storefront on the main level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,454
Cap Rate
8.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$629,080
$629.1K
Cap Rate 7%
$449,343
$449.3K
Cap Rate 9%
$349,489
$349.5K
Market Conditions
NOI Build-Up for 3,030 SF
Gross rent
$46.9K $15.48/SF
− Vacancy
−$2.0K −$0.65/SF
EGI
$44.9K $14.83/SF
− OpEx
−$13.5K −$4.45/SF
NOI
$31.5K $10.38/SF
Area
Allegan County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$629,080
Cap Rate 7%
$449,343
Cap Rate 9%
$349,489
Alternative Uses
Best Use
Retail
$449.3K
$393.2K – $524.2K
NOI $31,454 @ 7.0% cap · market cap 8.62%
Second Best
Mixed Use
$167.3K
$146.4K – $195.2K
NOI $11,713 @ 7.0% cap · market cap 3.21%
Theoretical Best
Hotel Hospitality
$28.45M
$24.90M – $33.20M
NOI $1,991,838 @ 7.0% cap · market cap 545.71%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
587
Businesses Nearby
14k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 81%
Dining 17%
Home Improvements & Furnishings 2%
Shell
Shops & Services
5,401 visits/mo
0.2 miles
Sunoco
Shops & Services
3,211 visits/mo
0.2 miles
Huntington Bank
Shops & Services
2,722 visits/mo
0.1 miles
Pizza Hut
Dining
2,431 visits/mo
0.1 miles
Andy's Ace Hardware
Home Improvements & Furnishings
219 visits/mo
0.3 miles
Demographics for 49010, MI
18,183
Population
7,222
Households
2.5
Avg Household Size
41
Median Age
18%
College-Educated
93%
High-School Grad
156.6 sq mi
ZIP Area
116
Density / Sq Mi
$72,361
Median Household Income
$42,133
Median Earnings
$1,061
Median Rent
$204,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-level building combines a one-bedroom apartment with adaptable commercial areas and separate front and rear access.
Where is this mixed-use property located?
The property is located at 217 Hubbard Street Allegan, MI.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 3,030‑square‑foot mixed‑use building on a 0.05‑acre lot; One‑bedroom, two‑bath apartment on the upper level; Open commercial storefront on the main level
