Mattawan High Traffic Commercial
For Sale
Contact for pricing
Pending
50247 CR 652, Mattawan, MI 49071
2.5 acres with home, pole barn, and frontage.
Property Size2,914 SF
Lot Size2.50 Acres
Days on Market527
Property Features for 50247 CR 652
General Information
Standard status
Pending
Size
2,914 SF
Total Parking Spaces
10
Lot size
2.50 Acres
Property subtype
Retail, Office, Industrial
Building Details
Year Built
1964
Buildings
2
Units
1
Listing Agency:
O'Brien Real Estate
(269) 381-6470
Listed By:
Pat O'Brien · License #MI 6502102326
Source:
Crexi
Added: Mar 13, 2025
Changed: Aug 8
Last Checked: Aug 21 at 4:46AM
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 O'Brien Real Estate
Investment Insights
Based on property information with market context.
This commercial site in Mattawan offers 2.5 acres with high traffic exposure near the corner of CR 652/Main St and Red Arrow Highway. The property includes a well-maintained 2914 square foot home, a storage shed, and a 1500 square foot pole barn equipped with two overhead doors and gas/electric service. The pole barn features a new roof and drywall. With 143 feet of frontage on CR 652/Main St, this site is suitable for a live/work business. It presents an opportunity for various businesses, including contractors, garden centers, gas stations, daycares, and medical offices.
Key Highlights
- High‑traffic commercial site on 2.5 acres with 143 ft frontage on CR 652/Main St.
- Includes a well‑maintained 2900 sq ft home, ideal for a live/work business.
- Features a 1500 sq ft pole barn with 2 overhead doors and gas/electric service.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,250
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$605,000
$605.0K
Cap Rate 7%
$432,143
$432.1K
Cap Rate 9%
$336,111
$336.1K
Market Conditions
NOI Build-Up for 2,914 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$45.1K $15.48/SF
− Vacancy
−$1.9K −$0.65/SF
EGI
$43.2K $14.83/SF
− OpEx
−$13.0K −$4.45/SF
NOI
$30.2K $10.38/SF
Area
Van Buren County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$605,000
Cap Rate 7%
$432,143
Cap Rate 9%
$336,111
Alternative Uses
Best Use
Retail
$432.1K
$378.1K – $504.2K
NOI $30,250 @ 7.0% cap · market cap 7.76%
Second Best
Office B
$426.7K
$373.3K – $497.8K
NOI $29,867 @ 7.0% cap · market cap 7.66%
Theoretical Best
Multifamily LT 5
$36.03M
$31.53M – $42.04M
NOI $2,522,178 @ 7.0% cap · market cap 646.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
78
Businesses Nearby
Explore this area
Business Placement
Demographics for 49071, MI
10,748
Population
4,415
Households
2.4
Avg Household Size
40
Median Age
40%
College-Educated
97%
High-School Grad
29.4 sq mi
ZIP Area
366
Density / Sq Mi
$105,779
Median Household Income
$48,494
Median Earnings
$1,161
Median Rent
$261,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 2.5 acres with home, pole barn, and frontage.
Where is this mixed-use property located?
The property is located at 50247 CR 652 Mattawan, MI.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: High‑traffic commercial site on 2.5 acres with **143 ft frontage on CR 652/Main St.**; Includes a well‑maintained **2900 sq ft home, ideal for a live/work business.**; Features a **1500 sq ft pole barn with 2 overhead doors and gas/electric service.**
