Industrial Flex
For Sale
$280,000
2569 111th Avenue, Allegan, MI 49010
COMMERCIAL - Allegan, MI
Property Size4,000 SF
Lot Size0.60 Acres
Price / SF$70
Days on Market50
Property Features for 2569 111th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
I-1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Elementary school district
Allegan
Middle school district
Allegan
High school district
Allegan
Directions
On 111th, near M89
Standard status
Active
APN
21-001-038-30
Size
4,000 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COM W 1/8 PST NW 1/4 TH N 00DEG 01'20'' W 540'; TH S 88DEG 54'00'' E 509' TO POB; TH CONT S 88DEG 54'00'' E 217'; TH N 0
Tax Annual Amount
2002
Legal Description
COM W 1/8 PST NW 1/4 TH N 00DEG 01'20'' W 540'; TH S 88DEG 54'00'' E 509' TO POB; TH CONT S 88DEG 54'00'' E 217'; TH N 0
Utilities
Utilities
Natural Gas Available
Sewer type
Septic Tank
Heating system
Space Heater
Water source
Well
Building Details
Year built
2015
Floors in Building
1
Number of units
1
Building materials
Metal Siding
Roof type
Composition
Listing Agency:
Keller Williams GR East · Keller Williams Realty
(616) 575-1800
Listed By:
Lucas Howard · License #6502388024
(616) 893-6478
Added: Jul 8
Changed: Aug 4
Last Checked: Aug 26 at 4:06AM
MLS# 26035289
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.
Investment Insights
Based on property information with market context.
This for-sale commercial building offers an office portion and a shop/warehouse area totaling 4,000 square feet. The finished office includes a kitchenette and bathroom, providing a more complete front-of-house and workday setup. The shop area is equipped with chemical- and slip-resistant industrial floor epoxy, thick concrete suited for heavy equipment, a floor drain, a mini-split heating system, and a second bathroom.
The property sits on 0.6 acres and is described as conveniently located just south of Allegan near M-89. The listing notes industrial zoning suitable for a variety of businesses, including distribution, manufacturing, storage, and processing.
Overall, the layout combines finished office space with a heavily built shop area designed for industrial operations, while maintaining on-site amenities through the two bathrooms and kitchenette in the office.
The property sits on 0.6 acres and is described as conveniently located just south of Allegan near M-89. The listing notes industrial zoning suitable for a variety of businesses, including distribution, manufacturing, storage, and processing.
Overall, the layout combines finished office space with a heavily built shop area designed for industrial operations, while maintaining on-site amenities through the two bathrooms and kitchenette in the office.
Key Highlights
- 4,000 SF commercial building just south of Allegan near M‑89
- Industrial zoning suitable for distribution, manufacturing, storage, and processing uses
- Finished office space with kitchenette and 2 bathrooms
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
$18,705
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
6.68%
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%
$374,100
$374.1K
Cap Rate 7%
$267,214
$267.2K
Cap Rate 9%
$207,833
$207.8K
Market Conditions
NOI Build-Up for 4,000 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
$27.5K $6.88/SF
− Vacancy
−$798 −$0.20/SF
EGI
$26.7K $6.68/SF
− OpEx
−$8.0K −$2.00/SF
NOI
$18.7K $4.68/SF
Area
Allegan County, MI
Vacancy
2.90%
Lease Rate
$6.88 /SF/Yr
Expense Ratio
30.00%
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%
$374,100
Cap Rate 7%
$267,214
Cap Rate 9%
$207,833
Alternative Uses
Best Use
Industrial
$267.2K
$233.8K – $311.8K
NOI $18,705 @ 7.0% cap · market cap 6.68%
Second Best
Flex RnD
$246.7K
$215.9K – $287.8K
NOI $17,268 @ 7.0% cap · market cap 6.17%
Theoretical Best
Hotel Hospitality
$37.56M
$32.87M – $43.82M
NOI $2,629,489 @ 7.0% cap · market cap 939.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - For-sale industrial building with finished office and shop area, including epoxy flooring, floor drain, and two bathrooms.
Where is this flex space located?
The property is located at 2569 111th Avenue Allegan, MI.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 4,000 SF commercial building just south of Allegan near M‑89; Industrial zoning suitable for distribution, manufacturing, storage, and processing uses; Finished office space with kitchenette and 2 bathrooms
