502 State St Hastings, MI 49058

Fabulous investment opportunity in the heart of Hastings being offered at a 8.96% Cap Rate. 3 Unit Apartment but has mixed zoning and could be used for other purposes if so desired. Unlock the potential of this rare gem in the heart of the city’s vibrant PUD district! This versatile three-unit property is zoned for apartment, commercial, and office use, making it a dream opportunity for entrepreneurs, small business owners, or savvy investors. Currently, the property is fully occupied by three separate tenants: two charming 1-bedroom units and a spacious 2-bedroom unit, ensuring steady rental income from day one. The flexible zoning allows you to reimagine the space as a boutique office, creative studio, or continue as a multi-family rental—tailor it to your vision! Many updates to include 2 new hot water heaters, 2 new showers. 2 new Range ovens, 2 new refrigerators. Step outside and you’re tenants just moments from the best of downtown Hastings. Enjoy proximity to local favorites like Walldorff Brewpub & Bistro, Seasonal Grille, and the historic Barry County Courthouse. Daily conveniences are at their fingertips with Family Fare Supermarket and Walgreens nearby, while the Thornapple River Walk and Tyden Park offer scenic escapes just blocks away. Whether you’re looking to expand your investment portfolio or launch your next business venture, 502 W. State Street delivers unmatched flexibility, location, and income potential. Don’t miss your chance to own a cornerstone property in one of Hastings’ most dynamic neighborhoods! Proforma available based on current rents and expenses.
Other Remarks: All Showings By Appointment only with pre qualification letter in advance and 48 hours notice as there are 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