Retail Space with
New
For Sale
$185,000
302 W Superior Street, Wayland, MI 49348
Commercial Sale, Wayland, MI
Property Size864 SF
Lot Size0.29 Acres
Price / SF$214.12
Days on Market4
Property Features for 302 W Superior Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
CBD
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Basement
Interior features
Broadband
Elementary school district
Wayland
Middle school district
Wayland
High school district
Wayland
Directions
From 131 South, head East on W Superior Street approx half a mile. Home is on the left between Park St and N Church st.
Standard status
Active
APN
56-400-096-00
Size
864 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
LOT 96 I. KELLOGG'S ADDITION PLAT OF LOMAX CITY. SEC 6 T3N R11W
Tax Annual Amount
2565
Legal Description
LOT 96 I. KELLOGG'S ADDITION PLAT OF LOMAX CITY. SEC 6 T3N R11W
Utilities
Heating system
Forced Air
Building Details
Year built
1910
Number of units
1
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Greenridge Realty (EGR)
(616) 458-3655
Listed By:
Lisa M Stewart
(616) 540-7132
Added: Oct 13
Last Checked: Oct 16 at 4:06AM
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
Hotel Hospitality
$8.11M
$7.10M – $9.47M
NOI $567,970 @ 7.0% cap · market cap 307.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
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
