Versatile Commercial Property in
For Sale
$210,000
Pending
995 N 106th Avenue, Plainwell, MI 49080
COMMERCIAL - Plainwell, MI
Property Size1,668 SF
Lot Size0.88 Acres
Days on Market423
Property Features for 995 N 106th Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C-2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Elementary school district
Plainwell
Middle school district
Plainwell
High school district
Plainwell
Directions
From downtown Plainwell; North on 10th Street to property on the left.
Subdivision
Greater Kalamazoo - K
Standard status
Pending
APN
08-017-036-00
Size
1,668 SF
Lot size
0.88 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
31'OF W 165' OF SW 1/4 SEC 17 T1N R11W. Deeded: 0.85 AC.
Tax Annual Amount
1819
Legal Description
31'OF W 165' OF SW 1/4 SEC 17 T1N R11W. Deeded: 0.85 AC.
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Water source
Well
Building Details
Year built
1900
Floors in Building
1
Number of units
1
Building materials
Vinyl Siding
Roof type
Metal
Listing Agency:
Jaqua, REALTORS
(269) 685-6858
Listed By:
Amy L Hamilton · License #6501343755
(269) 303-0709
Added: Jun 11, 2025
Changed: Aug 4
Last Checked: Aug 7 at 5:06AM
MLS# 25028088
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 well-maintained commercial property in Plainwell, Michigan, offers excellent visibility and easy access to Grand Rapids. The updated building features newer siding, windows, and roof. The property has a flexible layout with a kitchenette, a men's half bath, and a women's full bath. A spacious back storage area provides room for supplies or equipment. Currently set up as a church, all church-related items will be removed prior to closing. The property, situated on a 0.88-acre lot, contains 1,668 square feet of space. It is ideal for office, retail, or service use.
Key Highlights
- Excellent visibility and easy access to Grand Rapids.
- Updated building with newer siding, windows, and roof.
- Flexible layout suitable for office, retail, or service use.
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
$18,375
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
8.75%
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%
$367,500
$367.5K
Cap Rate 7%
$262,500
$262.5K
Cap Rate 9%
$204,167
$204.2K
Market Conditions
NOI Build-Up for 1,668 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
$28.4K $17.04/SF
− Vacancy
−$3.9K −$2.35/SF
EGI
$24.5K $14.69/SF
− OpEx
−$6.1K −$3.67/SF
NOI
$18.4K $11.02/SF
Area
Allegan County, MI
Vacancy
13.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$367,500
Cap Rate 7%
$262,500
Cap Rate 9%
$204,167
Alternative Uses
Best Use
Office B
$262.5K
$229.7K – $306.3K
NOI $18,375 @ 7.0% cap · market cap 8.75%
Second Best
Retail
$247.4K
$216.4K – $288.6K
NOI $17,315 @ 7.0% cap · market cap 8.25%
Theoretical Best
Hotel Hospitality
$15.66M
$13.71M – $18.27M
NOI $1,096,497 @ 7.0% cap · market cap 522.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
68
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Church & religious facility - Updated building suitable for office, retail, or service use.
Where is this church & religious facility located?
The property is located at 995 N 106th Avenue Plainwell, MI.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Excellent visibility and easy access to Grand Rapids.; Updated building with newer siding, windows, and roof.; Flexible layout suitable for office, retail, or service use.
