Updated Storefront Commercial
For Sale
$350,000
W 301 W Michigan Avenue Unit SourceFi, Paw Paw, MI 49079
Commercial storefront with updated roof, heating and air, interior and exterior painting, and on-site parking.
Property Size2,869 SF
Price / SF$121.99
Days on Market297
Property Features for W 301 W Michigan Avenue Unit SourceFi
General Information
Standard status
Active
Size
2,869 SF
Total Parking Spaces
20
Property subtype
Business Opportunities
Amenities
3
Composition
132215
Building Details
Year Built
1958
Listing Agency:
Evenboer Walton, REALTORS
(269) 598-2059
Listed By:
Julie Soudek · License #6501284849
(269) 598-2059
Source:
Xome
Added: Oct 8, 2025
Changed: Jul 31
Last Checked: Jul 31 at 12:34PM
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 Evenboer Walton, REALTORS
Investment Insights
Based on property information with market context.
The 2,869-square-foot commercial storefront was built in 1958 and has received updates to the roof, heating and air, and interior and exterior painting within the last couple years. The property is described for grocery, deli, retail, and potential party store use, with senior living residents’ apartments. Up to 20+ parking spaces support the property.
Located on West Michigan Avenue in Paw Paw, the storefront is near surrounding homes and businesses, as well as new homes and apartments in Paw Paw Village. The remarks also identify the corridor as the Red Arrow Highway.
Located on West Michigan Avenue in Paw Paw, the storefront is near surrounding homes and businesses, as well as new homes and apartments in Paw Paw Village. The remarks also identify the corridor as the Red Arrow Highway.
Key Highlights
- 2,869 SQ FT commercial storefront
- Built in 1958 with updates to the roof, heating and air, and interior and exterior painting
- Up to 20+ parking spaces
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.4k | $15.48 |
| − Vacancy | −$1.9k | −$0.65 |
| EGI | $42.5k | $14.83 |
| − OpEx | −$12.8k | −$4.45 |
| NOI | $29.8k | $10.38 |
2,869 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$474.1K
$414.8K – $553.1K
NOI $33,185 @ 7.0% cap · market cap 9.48%
Second Best
Retail
$425.5K
$372.3K – $496.4K
NOI $29,783 @ 7.0% cap · market cap 8.51%
Theoretical Best
Multifamily LT 5
$35.47M
$31.04M – $41.39M
NOI $2,483,229 @ 7.0% cap · market cap 709.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
83k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 65%
Dining 23%
Groceries 10%
Electronics 1%
Dollar Tree
Shops & Services
12,594 visits/mo
0.0 miles
BIGGBY COFFEE
Dining
11,260 visits/mo
0.3 miles
Save-A-Lot
Groceries
8,495 visits/mo
0.0 miles
Dollar General
Shops & Services
7,871 visits/mo
0.3 miles
Speedway
Shops & Services
7,371 visits/mo
0.4 miles
Demographics for 49079, MI
13,766
Population
6,019
Households
2.3
Avg Household Size
42
Median Age
25%
College-Educated
93%
High-School Grad
83.4 sq mi
ZIP Area
165
Density / Sq Mi
$72,119
Median Household Income
$41,376
Median Earnings
$841
Median Rent
$214,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial storefront with updated roof, heating and air, interior and exterior painting, and on-site parking.
Where is this storefront property located?
The property is located at W 301 W Michigan Avenue Unit SourceFi Paw Paw, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,869 SQ FT commercial storefront; Built in 1958 with updates to the roof, heating and air, and interior and exterior painting; Up to 20+ parking spaces
