Hastings Mixed-Use Investment
For Sale
$349,000
502 State St, Hastings, MI 49058
3 Unit Apartment - Zoned as Mixed Use PUD 502 W. State Street, Hastings MI
Property Size2,278 SF
Lot Size0.20 Acres
Price / SF$153.20
Days on Market363
Property Features for 502 State St
General Information
Standard status
Active
Property type
Live-work space, Triplexes, Mixed-use properties, Multifamily properties
Size
2,278 SF
Net Rentable
2,278 SF
Class
B
Total Parking Spaces
8
Elevators
No
Lot size
0.20 Acres
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$31,280
Building Details
Year Built
1900
Year Renovated
2024
Buildings
2
Stories
2
Units
3
Listing Agency:
(248) 923-4334
Listed By:
David
(248) 923-4334
Added: Aug 24, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
Located in Hastings, Michigan, this property at 502 W. State Street features a three-unit apartment building with mixed-use zoning, suitable for apartment, commercial, and office use. The property is currently fully leased to three tenants, including two one-bedroom units and one two-bedroom unit, providing immediate rental income. The flexible zoning allows for potential conversion into a boutique office or creative studio. Recent updates include two new hot water heaters, two new showers, two new range ovens, and two new refrigerators. The property is situated near downtown Hastings, with proximity to local establishments such as Walldorff Brewpub & Bistro and Seasonal Grille, as well as the Barry County Courthouse. Daily conveniences are easily accessible with Family Fare Supermarket and Walgreens nearby. Recreational opportunities include the Thornapple River Walk and Tyden Park, both located within blocks of the property. Unit #1, a two-bedroom apartment, rents for $1200 per month plus $200 for utilities and features central air. Unit #2, a large studio, rents for $950 per month plus $200 for utilities. Unit #3, a one-bedroom upstairs unit, rents for $950 per month plus $200 for utilities. Monthly utilities average $250, and water averages $75 per month. The lot size is 0.2 acres, and the property size is 2278 units.
Key Highlights
- 3 current tenants. Multiple listing under different categories (Residential, Commercial and Multifamily) unit #1 2 bedroom $1200/mo plus $200 utilities "central air" ; unit #2 large studio $950/mo plus $200 utilities unit #3 1 bedroom upstairs $950/ mo plus $200 utilities monthly utilities average $250 a month water average $ 75.00 month 2 new hot water heaters 2 new showers 2 new ovens 2 new refrigerators
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
Explore this area
Business Placement
Demographics for 49058, MI
19,422
Population
8,337
Households
2.3
Avg Household Size
42
Median Age
23%
College-Educated
92%
High-School Grad
147.6 sq mi
ZIP Area
132
Density / Sq Mi
$71,169
Median Household Income
$40,868
Median Earnings
$928
Median Rent
$210,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - 3 Unit Apartment - Zoned as Mixed Use PUD 502 W. State Street, Hastings MI
Where is this live-work space located?
The property is located at 502 State St Hastings, MI.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 3 current tenants. Multiple listing under different categories (Residential, Commercial and Multifamily) unit #1 2 bedroom $1200/mo plus $200 utilities "central air" ; unit #2 large studio $950/mo plus $200 utilities unit #3 1 bedroom upstairs $950/ mo plus $200 utilities monthly utilities average $250 a month water average $ 75.00 month 2 new hot water heaters 2 new showers 2 new ovens 2 new refrigerators
