Storefront with Central
New
For Sale
$118,000
253 W Monroe Street, Bangor, MI 49013
The compact commercial space is suited to retail, office, or service businesses.
Property Size480 SF
Price / SF$245.83
Days on Market5
Property Features for 253 W Monroe Street
General Information
Standard status
Active
Size
480 SF
Property subtype
Commercial
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,600
Building Details
Building Size
480 SF
Year Built
1929
Year Renovated
2022
Buildings
1
Stories
480
Units
1
Listing Agency:
eXp Realty LLC
(269) 600-4397
Listed By:
Chris Speer · License #6501418107
(269) 779-5031
Source:
Buskardgroup
Added: Oct 19
Changed: Oct 22
Last Checked: Oct 22 at 2:38PM
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 eXp Realty LLC
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Investment Insights
Based on property information with market context.
This 480-square-foot storefront was built in 1929 and has accommodated a range of community businesses, including a barber shop. A furnace and central air system were installed in 2022. The property’s stated use potential includes retail, professional office, and service businesses.
Situated on W Monroe Street in downtown Bangor, the building is along a route with steady traffic through town. Daily Amtrak service and access to South Haven and Kalamazoo are additional location features.
Situated on W Monroe Street in downtown Bangor, the building is along a route with steady traffic through town. Daily Amtrak service and access to South Haven and Kalamazoo are additional location features.
Key Highlights
- 480 square feet of storefront space
- Built in 1929
- Furnace and central air added in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$4,983
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$99,660
$99.7K
Cap Rate 7%
$71,186
$71.2K
Cap Rate 9%
$55,367
$55.4K
Market Conditions
NOI Build-Up for 480 SF
Gross rent
$7.4K $15.48/SF
− Vacancy
−$312 −$0.65/SF
EGI
$7.1K $14.83/SF
− OpEx
−$2.1K −$4.45/SF
NOI
$5.0K $10.38/SF
Area
Van Buren 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%
$99,660
Cap Rate 7%
$71,186
Cap Rate 9%
$55,367
Alternative Uses
Best Use
Retail
$71.2K
$62.3K – $83.1K
NOI $4,983 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$5.94M
$5.19M – $6.92M
NOI $415,458 @ 7.0% cap · market cap 352.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
35k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 46%
McDonald's
Dining
13,440 visits/mo
0.1 miles
Speedway
Shops & Services
7,265 visits/mo
0.1 miles
Dollar General
Shops & Services
6,441 visits/mo
0.2 miles
Shell
Shops & Services
5,158 visits/mo
0.5 miles
SUBWAY
Dining
2,844 visits/mo
0.2 miles
Demographics for 49013, MI
5,175
Population
2,045
Households
2.5
Avg Household Size
39
Median Age
16%
College-Educated
80%
High-School Grad
57.0 sq mi
ZIP Area
91
Density / Sq Mi
$58,264
Median Household Income
$33,589
Median Earnings
$757
Median Rent
$140,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Storefront property - The compact commercial space is suited to retail, office, or service businesses.
Where is this storefront property located?
The property is located at 253 W Monroe Street Bangor, MI.
What is the asking price?
The asking price for this property is $118,000.
What are key features of this property?
This property features: 480 square feet of storefront space; Built in 1929; Furnace and central air added in 2022
