Mixed-Use Live-Work
For Sale
$229,000
309 W Main Street, Kingsley, MI 49649
Mixed-use building with about 75 feet of frontage on M-113 and reported daily traffic over 6,600 vehicles.
Property Size800 SF
Price / SF$286.25
Days on Market41
Property Features for 309 W Main Street
General Information
Standard status
Active
Size
800 SF
Property subtype
Industrial
Site & Location
Traffic Count
6,600 vehicles/day
Highway Access
Yes
Road Access
Yes
Amenities
3
Asphalt
75132
Building Details
Year Built
1952
Listing Agency:
REMAX Bayshore - West Shore Dr TC
(906) 231-9017
Listed By:
Jeremy Fenske · License #6501453481
(906) 231-9017
Source:
Xome
Added: Jun 30
Changed: Aug 8
Last Checked: Aug 9 at 5:22AM
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 REMAX Bayshore - West Shore Dr TC
Investment Insights
Based on property information with market context.
This mixed-use property includes an existing building with layout flexibility, with options described as supporting a business and second-floor living, as well as income-producing or creative live-work use. The site is presented as a place to adapt the current structure to the next use for an owner-operator or investor.
The property is located in the center of Kingsley’s growing commercial district and sits within the Kingsley DDA (Downtown Development Authority). It offers approximately 75 feet of frontage on M-113 with average daily traffic reported at more than 6,600 vehicles, providing visibility along the corridor. The rear of the property backs up to Kingsley Creek and Kingsley Veterans Park, and Kingsley Community Schools are described as being about one block away.
Overall, the combination of prominent frontage, a mixed-use building, and supportive downtown context makes this a solid consideration for buyers seeking a property that can be tailored to business-with-living or other creative configurations.
The property is located in the center of Kingsley’s growing commercial district and sits within the Kingsley DDA (Downtown Development Authority). It offers approximately 75 feet of frontage on M-113 with average daily traffic reported at more than 6,600 vehicles, providing visibility along the corridor. The rear of the property backs up to Kingsley Creek and Kingsley Veterans Park, and Kingsley Community Schools are described as being about one block away.
Overall, the combination of prominent frontage, a mixed-use building, and supportive downtown context makes this a solid consideration for buyers seeking a property that can be tailored to business-with-living or other creative configurations.
Key Highlights
- Mixed‑use property with about 75 ft of frontage on M‑113
- Reported average daily traffic over 6,600 vehicles on M‑113
- Year built: 1952
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
$8,568
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
3.74%
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%
$171,360
$171.4K
Cap Rate 7%
$122,400
$122.4K
Cap Rate 9%
$95,200
$95.2K
Market Conditions
NOI Build-Up for 800 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
$13.4K $16.80/SF
− Vacancy
−$2.0K −$2.52/SF
EGI
$11.4K $14.28/SF
− OpEx
−$2.9K −$3.57/SF
NOI
$8.6K $10.71/SF
Area
Grand Traverse County, MI
Vacancy
15.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
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%
$171,360
Cap Rate 7%
$122,400
Cap Rate 9%
$95,200
Alternative Uses
Best Use
Office B
$122.4K
$107.1K – $142.8K
NOI $8,568 @ 7.0% cap · market cap 3.74%
Second Best
Mixed Use
$97.5K
$85.3K – $113.8K
NOI $6,825 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$173.8K
$152.1K – $202.8K
NOI $12,165 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6,600 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 49649, MI
6,919
Population
2,639
Households
2.6
Avg Household Size
38
Median Age
24%
College-Educated
93%
High-School Grad
110.5 sq mi
ZIP Area
63
Density / Sq Mi
$73,021
Median Household Income
$37,001
Median Earnings
$1,041
Median Rent
$246,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Mixed-use building with about 75 feet of frontage on M-113 and reported daily traffic over 6,600 vehicles.
Where is this live-work space located?
The property is located at 309 W Main Street Kingsley, MI.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Mixed‑use property with about 75 ft of frontage on M‑113; Reported average daily traffic over 6,600 vehicles on M‑113; Year built: 1952
