Retail Space with
302 W Superior Street, Wayland, MI 49348
For Sale
$185,000
Pending
Commercial Sale, Wayland, MI
Property Size864 SF
Lot Size0.29 Acres
Days on Market30
Property Features for 302 W Superior Street
General Information
Property type
Property subtype
Zoning description
Bathrooms
Full bathrooms
Rooms
Interior features
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Building Details
Year built
Number of units
Building materials
Roof type
Listing Agency:
Greenridge Realty (EGR)
(616) 458-3655
Listed By:
Lisa M Stewart
(616) 540-7132
Added: Oct 13
Changed: Oct 26
Last Checked: Nov 11 at 1:06PM
MLS# 26054460
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.
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Investment Insights
Based on property information with market context.
The 864-square-foot property was built in 1910 and includes a basement and one bathroom. Construction features vinyl siding, a composition roof, forced-air heating, and broadband service.
CBD zoning applies to the property. Grandfathered, nonconforming residential use remains possible.
CBD zoning applies to the property. Grandfathered, nonconforming residential use remains possible.
Key Highlights
- 864‑square‑foot property built in 1910
- CBD zoning
- Basement and one bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,969
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$179,380
$179.4K
Cap Rate 7%
$128,129
$128.1K
Cap Rate 9%
$99,656
$99.7K
Market Conditions
NOI Build-Up for 864 SF
Gross rent
$13.4K $15.48/SF
− Vacancy
−$562 −$0.65/SF
EGI
$12.8K $14.83/SF
− OpEx
−$3.8K −$4.45/SF
NOI
$9.0K $10.38/SF
Area
Allegan 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%
$179,380
Cap Rate 7%
$128,129
Cap Rate 9%
$99,656
Alternative Uses
Best Use
Retail
$128.1K
$112.1K – $149.5K
NOI $8,969 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$181.8K
$159.1K – $212.1K
NOI $12,727 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
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Business Placement
Demographics for 49348, MI
14,989
Population
5,629
Households
2.7
Avg Household Size
36
Median Age
23%
College-Educated
94%
High-School Grad
65.7 sq mi
ZIP Area
228
Density / Sq Mi
$79,267
Median Household Income
$41,955
Median Earnings
$1,123
Median Rent
$247,200
Median Home Value
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Market
Average Price Trend$/SF for Retail space in Allegan County, MI
Properties on Market for Retail space in Allegan County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - CBD zoning and a basement are among the property’s documented features.
Where is this retail space located?
The property is located at 302 W Superior Street Wayland, MI.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 864‑square‑foot property built in 1910; CBD zoning; Basement and one bathroom
