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    110-106 Locust St Allegan, MI 49010

    Sponsored
    For Sale
    $360,000

    Historic Victorian buildings, high rental potential.

    Property size:
    6,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents two adjacent, two-story late Victorian brick commercial buildings situated in the heart of Allegan's central business and historic district at 110-106 Locust Street, Allegan, MI 49010. The property boasts a combined 6,600 square feet of net rentable space, currently 25% occupied, and is offered at $360,000 ($54.55/sq ft). Each building features approximately 1,650 square feet of street-level space ideal for retail or office use, showcasing original facades from the late 1800s. A shared exterior staircase leads to the upper level, which houses four apartments in need of renovation, presenting significant upside potential. The property includes full basements and a separate 290-square-foot single-stall garage located on a detached lot accessible from the back alley. The 0.109-acre lot is zoned C1. Built in 1880 and renovated in 2010, this multi-tenant (currently one tenant) mixed-use property (Multifamily, Office, Retail) offers a unique blend of historical charm and modern investment potential. The property is offered as an owner/user investment with a net lease type. The APN is 51-205-018-00 & 51-205-019-00. This is a for sale by owner listing.

    Property Features for 110-106 Locust St

    General Information

    Property type
    Multifamily properties
    Square Feet
    6,600 SF
    Class
    C
    Lot Size
    4,748 SF

    Building Details

    Year Built/Renovated
    1880/2010
    Buildings
    2
    Stories
    2
    Units
    6

    HighLights

    • Upper‑story potential for conversion into four residential apartments.
    • Street‑level space ideal for office and retail use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Allegan
    County
    Allegan
    State
    Michigan
    Longitude
    -85.8490018
    Latitude
    42.5279757

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    FAQs

    What type of property is this?
    Multifamily property - Historic Victorian buildings, high rental potential.
    Where is this multifamily property located?
    The property is located at 110-106 Locust St Allegan, MI.
    What is the asking price?
    The asking price for this property is $360,000.
    What are key features of this property?
    This property features: Upper-story potential for conversion into four residential apartments.; Street-level space ideal for office and retail use.;
    Request Owner's contact information
    110-106 Locust St Allegan, MI 49010
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    Realmo Value Estimation

    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.

    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.

    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
    110-106 Locust St Allegan, MI 49010
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