Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    245 Hubbard St Allegan, MI 49010

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $750,000

    Redeveloped mixed-use building in downtown Allegan with residential units.

    Type:Commercial
    Added:
    Apr 26, 2026
    Days on Market:
    3
    Last Refresh:
    Apr 26 at 12:50 am

    Property Features for 245 Hubbard St

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Benjamin M Otis

    Listing agent Benjamin M Otis License #6502390146

    Listing office Weichert REALTORS Platinum Grp

    Listing date Apr 26, 2026

    Source Elliman

    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 Weichert REALTORS Platinum Grp

    Overview

    Downtown Allegan Mixed-Use Building

    Located in downtown Allegan, this recently redeveloped mixed-use building presents an opportunity for investors or business owners. The property includes ground-floor retail or office space that benefits from street visibility, large display windows, and foot traffic. The upper level features renovated residential units equipped with stone countertops, stainless appliances, and fixtures. An outdoor deck space offers views of the Kalamazoo River, concerts, and fireworks shows. Parking is available nearby, and the location provides access to local shops, restaurants, and community events. The property is located in an area that is 'Somewhat Walkable' with a walk score of 59, and 'Somewhat Bikeable' with a bike score of 44.
    Location Intelligence

    Current Use by Public Records

    Transnation Title Agency ... Title Company

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Allegan
    County
    Allegan
    State
    Michigan
    Longitude
    -85.8509485
    Latitude
    42.5275626

    Nearby Similar for Sale

    • $299,900
      5,500 SF

      Allegan Commercial Office Opportunity

      Commercial office building on 5 acres in Allegan, Michigan.
      2565 111th Avenue, Allegan, MI 49010
      View Details
    • $349,900
      6,600 SF

      Downtown Allegan Redevelopment Opportunity

      Two contiguous properties ideal for mixed-use redevelopment or commercial investment.
      110 106 Locust Street, Allegan, MI 49010
      View Details
    • $400,000
      5,610 SF

      Mixed-Use Property in Allegan, MI

      Mixed-use property with commercial and residential potential in Allegan.
      314 & 316 Western Avenue, Allegan, MI 49010
      View Details
    • $299,900
      4,000 SF

      Commercial Building Near M-89

      4,000 SF commercial building near M-89 in Allegan, MI.
      2569 111th Avenue, Allegan, MI 49010
      View Details
    • $750,000
      6,072 SF

      Downtown Allegan Mixed-Use Building

      Redeveloped mixed-use building with retail and residential units.
      245 Hubbard Street, Allegan, MI 49010
      View Details
    • $184,900
      3,324 SF

      Mixed-Use Investment Opportunity in Allegan

      Mixed-use property with income in place in downtown Allegan.
      110 Locust Street, Allegan, MI 49010
      View Details
    • $169,900
      3,300 SF

      Mixed-Use Building in Downtown Allegan

      Redevelopment opportunity in a historic, walkable downtown district.
      106 Locust Street, Allegan, MI 49010
      View Details
    • $975,000
      19,200 SF

      Retail Center on Lincoln Road

      Retail center with development potential in Allegan, Michigan.
      1253 Lincoln Road, Allegan, MI 49010
      View Details
    • $240,000
      2,888 SF

      Allegan Warehouse on Lincoln Road

      2,888 SF warehouse on 0.791 acres, high visibility.
      1231 Lincoln Road, Allegan, MI 49010
      View Details
    • $670,000
      11,432 SF

      Industrial Property on Lincoln Road

      Multi-building industrial property on 1.763 acres near downtown Allegan.
      1231 Lincoln Road, Allegan, MI 49010
      View Details
    • $349,900
      2,706 SF

      Established Party Store For Sale

      Long-established party store with licenses in a great location.
      231 Western Avenue, Allegan, MI 49010
      View Details
    • $430,000
      8,544 SF

      Industrial Warehouses on Lincoln Road

      Two industrial buildings on 0.972 acres with high visibility.
      1235.5 Lincoln Road, Allegan, MI 49010
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Redeveloped mixed-use building in downtown Allegan with residential units.
    Where is this mixed-use property located?
    The property is located at 245 Hubbard St Allegan, MI.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: Newly renovated residential units with **stone countertops, stainless appliances, and high‑end fixtures.**; **Unrivaled, enormous outdoor deck space with Kalamazoo River views.**; Prime downtown Allegan location with high foot traffic and excellent street visibility.
    (616) 275-2998
    We can help!
    Listing Contact
    Benjamin M Otis
    Real Estate License ID: 6502390146
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!