Three-Story Mixed-Use
98 W Center Street, Douglas, MI 49406
For Sale
$1,490,000
Commercial Sale, Douglas, MI
Property Size4,548 SF
Lot Size0.20 Acres
Price / SF$327.62
Days on Market217
Property Features for 98 W Center Street
General Information
Property type
Property subtype
Bathrooms
Full bathrooms
Rooms
Parking
Interior features
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Mixed-Use Components
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Amenities
appliances included
patio
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Buildings
Listing Agency:
Jaqua Realtors
(269) 857-8030
Listed By:
Rob P Joon · License MI #6501290168
(616) 836-2816
Added: Apr 8
Changed: Oct 30
Last Checked: Nov 10 at 12:06PM
MLS# 26014228
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.
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Investment Insights
Based on property information with market context.
This three-story mixed-use building contains 4,548 square feet and was remodeled in 2025. The main floor is divided into two retail units, with a layout that can be adjusted to create one, two, or three commercial spaces. Three apartments are approved for either short-term or long-term rental. A one-bedroom apartment with a patio occupies the lower level, alongside additional unfinished rooms. The building was moved onto a new foundation in 2002 and dates to 1900.
Six private parking spaces serve the property. Appliances are included, and tenants pay their own utilities. Retail HVAC replacement is scheduled for fall 2026, with a new roof planned for October 2026.
Six private parking spaces serve the property. Appliances are included, and tenants pay their own utilities. Retail HVAC replacement is scheduled for fall 2026, with a new roof planned for October 2026.
Key Highlights
- 4,548‑square‑foot, three‑story mixed‑use building on 0.2 acres
- Three apartments approved for short‑term or long‑term rental
- Main floor currently has two retail units, with potential for one to three spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,212
Cap Rate
3.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$944,240
$944.2K
Cap Rate 7%
$674,457
$674.5K
Cap Rate 9%
$524,578
$524.6K
Market Conditions
NOI Build-Up for 4,548 SF
Gross rent
$70.4K $15.48/SF
− Vacancy
−$3.0K −$0.65/SF
EGI
$67.4K $14.83/SF
− OpEx
−$20.2K −$4.45/SF
NOI
$47.2K $10.38/SF
Area
Allegan 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 Rate 5%
$944,240
Cap Rate 7%
$674,457
Cap Rate 9%
$524,578
Alternative Uses
Best Use
Retail
$674.5K
$590.2K – $786.9K
NOI $47,212 @ 7.0% cap · market cap 3.17%
Second Best
Apartment 5plus
$416.9K
$364.8K – $486.4K
NOI $29,186 @ 7.0% cap · market cap 1.96%
Theoretical Best
Office A
$957.0K
$837.4K – $1.12M
NOI $66,991 @ 7.0% cap · market cap 4.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
282
Businesses Nearby
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Business Placement
Demographics for 49406, MI
1,031
Population
921
Households
1.1
Avg Household Size
60
Median Age
66%
College-Educated
99%
High-School Grad
1.5 sq mi
ZIP Area
687
Density / Sq Mi
$95,417
Median Household Income
$78,333
Median Earnings
$470,500
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Allegan County, MI
Properties on Market for Mixed-use properties in Allegan County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown property pairs rental apartments with adaptable ground-floor retail and private parking.
Where is this mixed-use property located?
The property is located at 98 W Center Street Douglas, MI.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: 4,548‑square‑foot, three‑story mixed‑use building on 0.2 acres; Three apartments approved for short‑term or long‑term rental; Main floor currently has two retail units, with potential for one to three spaces
