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    Mixed-Use Property in Pullman, MI Title is generated by Realmo AI

    5441 109th Avenue, Pullman, MI 49450

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    Claim this Listing
    Pending
    $250,000

    COMMERCIAL - Pullman, MI

    Type:Retail
    Property size:
    2,240 SF
    Lot size:
    1.07 Acres
    Added:
    Apr 29, 2026
    Days on Market:
    21
    Last Refresh:
    May 19 at 9:06 pm

    Property Features for 5441 109th Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Bathrooms
    1
    Rooms
    Bathroom 1
    Standard status
    Pending
    APN
    12-730-042-00
    Size
    2,240 SF
    Lot size
    1.07 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    Legal in agents only remark
    Tax Annual Amount
    4675

    Utilities

    Utilities
    Propane
    Sewer type
    Septic Tank
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Well
    Water front features
    Lake
    Water front
    1

    Building Details

    Year built
    2005
    Number of units
    1
    Building materials
    Vinyl Siding, Metal Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    Clarivel Delucas Valdez

    Listing agent Clarivel Delucas Valdez

    Listing office Coldwell Banker Woodland Schmidt Saugatuck 2987 Blue Star Hwy PO Box 2717, Grand Haven, MI

    Listing date Apr 29, 2026

    MLS# 26018655

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Mixed‑use property: retail/commercial storefront plus 3‑bedroom residence.
    • High‑visibility location on a main road.
    • Updated commercial range/hood system, electrical, furnace, and A/C.
    • Large lot with ample parking.
    • Suitable for investors, entrepreneurs, or live‑work arrangements.
    • Built in 2005.

    Overview

    This unique mixed-use property in Pullman, MI, presents an opportunity for both income generation and owner-occupancy. Located on a highly visible main road, the property includes a retail/commercial storefront and a 3-bedroom, 1-bath residence situated behind the business. The property has undergone numerous updates, including to the home and commercial range/hood system, electrical, furnace, and A/C. The large 1.07-acre lot provides ample parking and space for customers, tenants, or personal use. With a total property size of 2240 square feet, this property is suitable for investors, entrepreneurs, or those seeking a live-work arrangement.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Garcia's Supermercado Specialty Food Shop EL CHANGARRITO Mexican ... Grocery & Convenience Store Family And Friends Takeout Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Auto Repair Shop Hair Salon Auto Parts Store Storage Facility Bar & Pub Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pullman
    County
    Allegan
    State
    Michigan
    Longitude
    -86.078225
    Latitude
    42.484207

    Nearby Similar for Sale

    • $264,900
      1,080 SF

      Remodeled Restaurant in Pullman, MI

      Remodeled restaurant with newer equipment and extra lot included.
      5610 109th Avenue, Pullman, MI 49450
      View Details
    • $100,000

      Partially Renovated Farm with Acreage

      9.65 acre farm with partially renovated home and outbuildings.
      5890 109th Avenue, Pullman, MI 49450
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with retail storefront and residential unit.
    Where is this mixed-use property located?
    The property is located at 5441 109th Avenue Pullman, MI.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Mixed‑use property: retail/commercial storefront plus 3‑bedroom residence.; High‑visibility location on a main road.; Updated commercial range/hood system, electrical, furnace, and A/C.
    (269) 906-7132
    We can help!
    Listing Contact
    Clarivel Delucas Valdez
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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