Historic Retail Building with Commercial
94 N Union Street Sparta, MI 49345
94 N Union Street, Sparta, MI, 49345
$589,000
For Sale
$589,000
For sale historic, multi-floor building with a newly included commercial kitchen and recently updated interior space.
Property Size6,327 SF
Price / SF$93.09
Days on Market127
Property Features for 94 N Union Street
General Information
- Standard status
- Active
- Size
- 6,327 SF
- Property subtype
- Business Opportunity
Building Details
- Year Built
- 1928
Listing agency
United Realty Services LLC
(616) 813-7020
Listed by
Chris Botruff
(616) 813-7020
Source
Carolbollo
Added: Mar 18 Updated: Jul 22 at 2:47AM Checked: Jul 22 at 2:47AM
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 United Realty Services LLC
Investment Insights
Based on property information with market context.
Historic Cannon Plaza building featuring approximately 6,327 square feet between three freshly updated and finished floors, with exterior improvements also completed in anticipation of its upcoming 100-year anniversary. The main floor includes HOT SPOT cafe and an artisan store, which are included with the sale, and the property includes a new commercial kitchen.
The building has views of downtown Sparta across the street from the civic center and is positioned between two parks. Sparta hosts many events that draw thousands just outside the doors, and the adjacent primary downtown parking lot is being revamped for more entertainment.
The second and third floors are not ADA compliant, but they can be used as an extension of the business. The main floor features a brand new state-certified lift, supporting access to the primary level.
The building has views of downtown Sparta across the street from the civic center and is positioned between two parks. Sparta hosts many events that draw thousands just outside the doors, and the adjacent primary downtown parking lot is being revamped for more entertainment.
The second and third floors are not ADA compliant, but they can be used as an extension of the business. The main floor features a brand new state-certified lift, supporting access to the primary level.
Key Highlights
- Historic building built in 1928 with 6,327 SF across 3 freshly updated floors
- Main floor includes Hot Spot Cafe and artisan store (included in the sale)
- Includes a new commercial kitchen
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.5k | $6.88 |
| − Vacancy | −$1.3k | −$0.20 |
| EGI | $42.3k | $6.68 |
| − OpEx | −$12.7k | −$2.00 |
| NOI | $29.6k | $4.68 |
6,327 SF · lease $6.88/SF/yr · vacancy 2.90% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$1.01M
$879.6K – $1.17M
NOI $70,371 @ 7.0% cap · market cap 11.95%
Second Best
Retail
$938.3K
$821.0K – $1.09M
NOI $65,680 @ 7.0% cap · market cap 11.15%
Theoretical Best
Office A
$1.13M
$990.2K – $1.32M
NOI $79,214 @ 7.0% cap · market cap 13.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Hot Spot
Cafe & Coffee Shop
Shopscrapbook101.com event Center ...
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
Similar Off Market Nearby
- Biggby Coffee — 275 S State St, Sparta, MI 49345
- Starbucks — 565 S State St, Sparta, MI 49345
- Hot Spot — 94 N Union St, Sparta, MI 49345
- Koffee Haus — 201 Suite F, E Division St, Sparta, MI 49345
- Envision Nutrition — 545 S State St, Sparta, MI 49345
FAQs
What type of property is this?
Coffee shop - For sale historic, multi-floor building with a newly included commercial kitchen and recently updated interior space.
Where is this coffee shop located?
The property is located at 94 N Union Street Sparta, MI.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Historic building built in 1928 with 6,327 SF across 3 freshly updated floors; Main floor includes Hot Spot Cafe and artisan store (included in the sale); Includes a new commercial kitchen
