Mixed-Use Building with
New
For Sale
$1,200,000
57810 Murray Street, Mattawan, MI 49071
Commercial Sale, Mattawan, MI
Property Size6,412 SF
Lot Size0.98 Acres
Price / SF$187.15
Days on Market1
Property Features for 57810 Murray Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 4, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 6, Bathroom 5
Elementary school
Mattawan Early Elementary School
Middle school
Mattawan Middle School
High school
Mattawan High School
Elementary school district
Mattawan
Middle school district
Mattawan
High school district
Mattawan
Directions
From I-94, take Exit 66 and travel south on Main Street toward downtown Mattawan. Turn right onto Front Street. The property is on the left at the corner of Front and Murray Streets.
Standard status
Active
APN
80-46-700-153-000
Size
6,412 SF
Lot size
0.98 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Under "Documents"
Tax Annual Amount
4494
Legal Description
Under "Documents"
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1995
Floors in Building
2
Number of units
6
Building materials
Wood Siding
Roof type
Metal
Listing Agency:
Berkshire Hathaway HomeServices MI
(269) 344-8599
Listed By:
Brian D Lewis · License #6591441776
(269) 488-5293
Added: Sep 15
Last Checked: Sep 15 at 2:06PM
MLS# 26049013
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.
Investment Insights
Based on property information with market context.
This 6,412-square-foot mixed-use building in Mattawan includes three one-bedroom apartments, two retail storefronts, and additional commercial, warehouse, and manufacturing areas. The property contains six restrooms and a 14-foot overhead door, supporting a range of residential and commercial configurations. Recent electrical work was completed throughout the units in 2021.
The property sits at Murray and Front Streets near Village Park, with on-site parking, street parking, and a municipal parking lot nearby. Public water and sewer, natural gas forced-air heat, central air, and a metal roof are also in place. Built in 1995 on 0.98 acres, the building is subject to tenant rights and buyer verification of configuration, tenancy, zoning, permitted uses, and related property information.
The property sits at Murray and Front Streets near Village Park, with on-site parking, street parking, and a municipal parking lot nearby. Public water and sewer, natural gas forced-air heat, central air, and a metal roof are also in place. Built in 1995 on 0.98 acres, the building is subject to tenant rights and buyer verification of configuration, tenancy, zoning, permitted uses, and related property information.
Key Highlights
- 6,412‑square‑foot mixed‑use building on 0.98 acres
- Three one‑bedroom apartments and two retail storefronts
- Additional commercial, warehouse, and manufacturing space
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
$66,562
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
5.55%
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%
$1,331,240
$1.3M
Cap Rate 7%
$950,886
$950.9K
Cap Rate 9%
$739,578
$739.6K
Market Conditions
NOI Build-Up for 6,412 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
$99.3K $15.48/SF
− Vacancy
−$4.2K −$0.65/SF
EGI
$95.1K $14.83/SF
− OpEx
−$28.5K −$4.45/SF
NOI
$66.6K $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%
$1,331,240
Cap Rate 7%
$950,886
Cap Rate 9%
$739,578
Alternative Uses
Best Use
Apartment 5plus
$70.58M
$61.76M – $82.34M
NOI $4,940,533 @ 7.0% cap · market cap 411.71%
Second Best
Retail
$950.9K
$832.0K – $1.11M
NOI $66,562 @ 7.0% cap · market cap 5.55%
Theoretical Best
Multifamily LT 5
$79.28M
$69.37M – $92.50M
NOI $5,549,830 @ 7.0% cap · market cap 462.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
166
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mattawan property combines residential units, retail storefronts, and adaptable commercial space with on-site parking.
Where is this mixed-use property located?
The property is located at 57810 Murray Street Mattawan, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 6,412‑square‑foot mixed‑use building on 0.98 acres; Three one‑bedroom apartments and two retail storefronts; Additional commercial, warehouse, and manufacturing space
