Hastings Mixed-Use Investment
For Sale
$349,000
502 W State St, Hastings, MI 49058
Three-unit property with mixed zoning in Hastings' vibrant PUD district.
Property SizeContact for details
Lot Size0.20 Acres
Days on Market165
Property Features for 502 W State St
General Information
Standard status
Active
Lot size
0.20 Acres
Property subtype
Commercial
Building Details
Year Built
1900
Listing Agency:
Epique Realty
(248) 568-5958
Listed By:
David Elwood
(248) 568-5958
Source:
Elliman
Added: Mar 10
Changed: Jul 6
Last Checked: Aug 20 at 7:57AM
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 Epique Realty
Investment Insights
Based on property information with market context.
This three-unit property in Hastings presents an investment opportunity with an 8.96% cap rate. Zoned for apartment, commercial, and office use, the property offers versatility for entrepreneurs, small business owners, or investors. The building is currently fully occupied by three tenants, including two one-bedroom units and one two-bedroom unit. Updates include two new hot water heaters and two new showers, as well as two new range ovens and two new refrigerators. The location provides proximity to downtown Hastings, including local establishments such as Walldorff Brewpub & Bistro and Seasonal Grille, along with the Barry County Courthouse. Daily conveniences are accessible with Family Fare Supermarket and Walgreens nearby. Thornapple River Walk and Tyden Park are also located within blocks of the property. The flexible zoning allows for potential uses such as a boutique office, creative studio, or continued use as a multi-family rental.
Key Highlights
- High Cap Rate: Offered at an impressive 8.96% Cap Rate, a strong investment opportunity.
- Flexible Zoning: Zoned for apartment, commercial, and office use, providing diverse options.
- Fully Occupied: Currently generating income with three tenant‑occupied units (two 1‑bedroom, one 2‑bedroom).
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
482
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?
Triplex - Three-unit property with mixed zoning in Hastings' vibrant PUD district.
Where is this triplex located?
The property is located at 502 W 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: High Cap Rate: Offered at an impressive 8.96% Cap Rate, a strong investment opportunity.; Flexible Zoning: Zoned for apartment, commercial, and office use, providing diverse options.; Fully Occupied: Currently generating income with three tenant‑occupied units (two 1‑bedroom, one 2‑bedroom).
