Historic Mixed-Use Townhouse
For Sale
$425,000
721 E Bridge Street, Plainwell, MI 49080
Commercial Sale, Plainwell, MI
Property Size5,142 SF
Lot Size0.15 Acres
Price / SF$82.65
Days on Market413
Property Features for 721 E Bridge Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
4
Full bathrooms
4
Rooms
Basement, Bathroom 2, Bathroom 1, Bathroom 3, Bathroom 4
Interior features
Broadband
Elementary school district
Plainwell
Middle school district
Plainwell
High school district
Plainwell
Directions
M-89 east out of downtown Plainwell on north side of road next to Olde Mill restaurant
Subdivision
Greater Kalamazoo - K
Standard status
Active
APN
03-55-270-028-10
Size
5,142 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
see attached
Tax Annual Amount
4633
Legal Description
see attached
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Amenities
in-unit laundry
rooftop patio
private patio
Building Details
Year built
1890
Floors in Building
3
Number of units
4
Building materials
Wood Siding
Roof type
Metal
Listing Agency:
Berkshire Hathaway HomeServices MI
(269) 673-3030
Listed By:
Cheri S Schulz · License #6502136063
(269) 720-4735
Added: Aug 26, 2025
Changed: Oct 8
Last Checked: Oct 12 at 9:06AM
MLS# 25050663
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 mixed-use property comprises a historic grainery converted into a 3-unit townhouse building with 5142 square feet on 0.15 acres. Constructed in 1890, the property retains original architectural elements and includes wood siding, a metal roof, forced-air heating, central air, broadband, and cable availability. The two upper-level townhouses each feature two bedrooms, 1 1/2 baths, in-unit laundry, and rooftop patio access. The main-level unit includes a commercial configuration with a 1/2 bath or a residential layout with finished lower-level space, kitchen, full bath, laundry, private patio, and potential for two bedrooms with modifications.
A historic caboose on the property has also been used as a rental or commercial unit. The property includes an additional parcel and has documented rental history. Its location is in Plainwell, Michigan, in Allegan County.
A historic caboose on the property has also been used as a rental or commercial unit. The property includes an additional parcel and has documented rental history. Its location is in Plainwell, Michigan, in Allegan County.
Key Highlights
- 5142 square feet on 0.15 acres
- 3‑unit townhouse building converted from an 1890 grainery
- Two upper‑level units with 2 bedrooms, 1 1/2 baths, laundry, and rooftop patio access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,998
Cap Rate
7.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$659,960
$660.0K
Cap Rate 7%
$471,400
$471.4K
Cap Rate 9%
$366,644
$366.6K
Market Conditions
NOI Build-Up for 5,142 SF
Gross rent
$63.6K $12.36/SF
− Vacancy
−$3.6K −$0.69/SF
EGI
$60.0K $11.67/SF
− OpEx
−$27.0K −$5.25/SF
NOI
$33.0K $6.42/SF
Area
Allegan County, MI
Vacancy
5.60%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$659,960
Cap Rate 7%
$471,400
Cap Rate 9%
$366,644
Alternative Uses
Best Use
Apartment 5plus
$471.4K
$412.5K – $550.0K
NOI $32,998 @ 7.0% cap · market cap 7.76%
Second Best
Mixed Use
$284.0K
$248.5K – $331.3K
NOI $19,877 @ 7.0% cap · market cap 4.68%
Theoretical Best
Hotel Hospitality
$48.29M
$42.25M – $56.34M
NOI $3,380,209 @ 7.0% cap · market cap 795.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Explore this area
Business Placement
Demographics for 49080, MI
15,994
Population
6,582
Households
2.4
Avg Household Size
42
Median Age
28%
College-Educated
94%
High-School Grad
77.4 sq mi
ZIP Area
207
Density / Sq Mi
$75,250
Median Household Income
$42,775
Median Earnings
$982
Median Rent
$234,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Original architectural elements support flexible residential and commercial configurations across the converted grainery building.
Where is this mixed-use property located?
The property is located at 721 E Bridge Street Plainwell, MI.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 5142 square feet on 0.15 acres; 3‑unit townhouse building converted from an 1890 grainery; Two upper‑level units with 2 bedrooms, 1 1/2 baths, laundry, and rooftop patio access
