Downtown Flex Building with
For Sale
Contact for pricing
222 South Maple Street, Fennville, MI 49408
Commercially zoned flex property includes warehouse space plus office/retail area totaling 4,228 SF.
Property Size4,228 SF
Price / SF$92.24
Days on Market122
Property Features for 222 South Maple Street
General Information
Standard status
Active
Size
4,228 SF
Property subtype
Retail, Office
Listing Agency:
Bradley Company
Listed By:
Jordan Wenzel · License #6501452030APP23
(616) 206-7658
Source:
Crexi
Added: May 7
Changed: Aug 28
Last Checked: Sep 4 at 4:54AM
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 Bradley Company
Investment Insights
Based on property information with market context.
This commercially zoned flex property offers a combined layout of warehouse and office/retail space. The building includes 1,968 SF of warehouse area and 2,260 SF of office/retail space, for a total of 4,228 SF.
The property is located on the south edge of downtown Fennville, Michigan, at 222 South Maple Street.
For businesses looking for both back-of-house storage and front-facing office or retail functionality, the split configuration provides space for multiple operating needs within a single building footprint.
The property is located on the south edge of downtown Fennville, Michigan, at 222 South Maple Street.
For businesses looking for both back-of-house storage and front-facing office or retail functionality, the split configuration provides space for multiple operating needs within a single building footprint.
Key Highlights
- 4,228 SF commercially zoned flex property on the south edge of downtown Fennville, MI
- Includes 1,968 SF warehouse space
- Includes 2,260 SF office/retail space
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
$24,008
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
6.16%
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%
$480,160
$480.2K
Cap Rate 7%
$342,971
$343.0K
Cap Rate 9%
$266,756
$266.8K
Market Conditions
NOI Build-Up for 4,228 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
$29.1K $6.88/SF
− Vacancy
−$844 −$0.20/SF
EGI
$28.2K $6.68/SF
− OpEx
−$4.2K −$1.00/SF
NOI
$24.0K $5.68/SF
Area
Allegan County, MI
Vacancy
2.90%
Lease Rate
$6.88 /SF/Yr
Expense Ratio
15.00%
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%
$480,160
Cap Rate 7%
$342,971
Cap Rate 9%
$266,756
Alternative Uses
Best Use
Office B
$665.4K
$582.2K – $776.3K
NOI $46,577 @ 7.0% cap · market cap 11.94%
Second Best
Warehouse
$343.0K
$300.1K – $400.1K
NOI $24,008 @ 7.0% cap · market cap 6.16%
Theoretical Best
Hotel Hospitality
$39.71M
$34.74M – $46.32M
NOI $2,779,370 @ 7.0% cap · market cap 712.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
144
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49408, MI
9,830
Population
4,933
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
88%
High-School Grad
108.0 sq mi
ZIP Area
91
Density / Sq Mi
$69,155
Median Household Income
$40,547
Median Earnings
$918
Median Rent
$210,300
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?
Flex space - Commercially zoned flex property includes warehouse space plus office/retail area totaling 4,228 SF.
Where is this flex space located?
The property is located at 222 South Maple Street Fennville, MI.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 4,228 SF commercially zoned flex property on the south edge of downtown Fennville, MI; Includes 1,968 SF warehouse space; Includes 2,260 SF office/retail space
