Multi-Building Mixed-Use
New
For Sale
$400,000
314 & 316 Western Avenue, Allegan, MI 49010
Separate buildings accommodate multifamily rental use and service and distribution operations.
Property Size5,610 SF
Price / SF$71.30
Days on Market3
Property Features for 314 & 316 Western Avenue
General Information
Standard status
Active
Size
5,610 SF
Property subtype
Commercial
Zoning
C2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$7,197
Building Details
Building Size
5,610 SF
Year Built
1908
Buildings
2
Stories
2
Units
4
Listing Agency:
Weichert REALTORS Plat Allegan
(269) 512-6290
Listed By:
Benjamin M Otis · License #6506045561
(616) 275-2998
Source:
Alleyrealestatesales
Added: Nov 2
Last Checked: Nov 4 at 6:04AM
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 Weichert REALTORS Plat Allegan
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property comprises multiple buildings across four city lots. One building is currently used as a multifamily rental and has a history of long-term tenants; another was most recently used by a service and distribution company. The property totals 5,610 square feet and dates to 1908.
Located at 314 and 316 Western Avenue in Allegan, Michigan, the site is zoned C2.
Located at 314 and 316 Western Avenue in Allegan, Michigan, the site is zoned C2.
Key Highlights
- 5,610 square feet across multiple buildings
- Four city lots
- One building currently used as a multifamily rental with long‑term tenant history
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,001
Cap Rate
9.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,020
$720.0K
Cap Rate 7%
$514,300
$514.3K
Cap Rate 9%
$400,011
$400.0K
Market Conditions
NOI Build-Up for 5,610 SF
Gross rent
$69.3K $12.36/SF
− Vacancy
−$3.9K −$0.69/SF
EGI
$65.5K $11.67/SF
− OpEx
−$29.5K −$5.25/SF
NOI
$36.0K $6.42/SF
Area
Allegan County, MI
Vacancy
5.60%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,020
Cap Rate 7%
$514,300
Cap Rate 9%
$400,011
Alternative Uses
Best Use
Apartment 5plus
$514.3K
$450.0K – $600.0K
NOI $36,001 @ 7.0% cap · market cap 9.00%
Second Best
Mixed Use
$309.8K
$271.1K – $361.5K
NOI $21,687 @ 7.0% cap · market cap 5.42%
Theoretical Best
Hotel Hospitality
$52.68M
$46.10M – $61.46M
NOI $3,687,859 @ 7.0% cap · market cap 921.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
176
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate buildings accommodate multifamily rental use and service and distribution operations.
Where is this mixed-use property located?
The property is located at 314 & 316 Western Avenue Allegan, MI.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 5,610 square feet across multiple buildings; Four city lots; One building currently used as a multifamily rental with long‑term tenant history
