Mixed-Use Property with Multifamily
For Sale
$400,000
314316 314 & 316 Western Ave, Allegan, MI 49010
Multiple buildings across four city lots combine residential occupancy with prior service and distribution use.
Property Size5,610 SF
Price / SF$71.30
Days on Market85
Property Features for 314316 314 & 316 Western Ave
General Information
Standard status
Active
Size
5,610 SF
Building Details
Year Built
1908
Tenancy
Multi
Listing Agency:
Weichert REALTORS Plat Allegan
Listed By:
Benjamin M Otis · License #6506045561
(616) 275-2998
Source:
Katie-k
Added: Jul 24
Changed: Oct 15
Last Checked: Oct 7 at 2:04PM
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.
This mixed-use property includes multiple buildings totaling 5,610 square feet across four city lots. One building was most recently occupied by a large-scale service and distribution company, providing a commercial component within the overall site.
A separate building is currently configured for multifamily residential rental use and has a history of long-term tenancy. The property was built in 1908 and is located at 314316 314 & 316 Western Ave in Allegan, Michigan.
A separate building is currently configured for multifamily residential rental use and has a history of long-term tenancy. The property was built in 1908 and is located at 314316 314 & 316 Western Ave in Allegan, Michigan.
Key Highlights
- 5,610‑square‑foot mixed‑use property built in 1908
- Multiple buildings situated across 4 city lots
- Separate building currently used for multifamily residential rental
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
Office B
$882.9K
$772.5K – $1.03M
NOI $61,802 @ 7.0% cap · market cap 15.45%
Second Best
Apartment 5plus
$514.3K
$450.0K – $600.0K
NOI $36,001 @ 7.0% cap · market cap 9.00%
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
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
151
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
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Multiple buildings across four city lots combine residential occupancy with prior service and distribution use.
Where is this mixed-use property located?
The property is located at 314316 314 & 316 Western Ave 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‑foot mixed‑use property built in 1908; Multiple buildings situated across 4 city lots; Separate building currently used for multifamily residential rental
