Turn-Key Mixed-Use Corner
S 2134 S Main Street Unit SourceFi Central Lake, MI 49622
S 2134 S Main Street Unit SourceFi, Central Lake, MI, 49622
$219,000
For Sale
$219,000
For-sale mixed-use corner property with high visibility on Main Street and a private parking lot off Ballard Street.
Property Size1,568 SF
Price / SF$139.67
Days on Market64
Property Features for S 2134 S Main Street Unit SourceFi
General Information
- Standard status
- Active
- Size
- 1,568 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1985
Listing agency
Paradise Properties USA
(231) 633-2323
Listed by
Gary Scheitler · License #6502139515
(231) 633-2323
Source
Xome
Added: May 19 Updated: Jul 18 at 2:16AM Checked: Jul 21 at 2:57AM
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 Paradise Properties USA
Investment Insights
Based on property information with market context.
This turn-key mixed-use commercial property is positioned as an affordable, ready-to-operate option for a variety of concepts. The offering is presented as a corner asset in the heart of town, designed to support entrepreneurial use cases such as retail, café, office space, studio, or gallery, along with other mixed-use configurations.
The property sits on Main Street (M-88) and is described as having high visibility with steady year-round traffic. Access is supported by a private parking lot located off Ballard Street, intended to provide convenient parking away from the busy main roadway.
Overall, the asset combines street-front exposure and off-main parking to create a flexible setup for businesses seeking a prominent presence in a central location.
The property sits on Main Street (M-88) and is described as having high visibility with steady year-round traffic. Access is supported by a private parking lot located off Ballard Street, intended to provide convenient parking away from the busy main roadway.
Overall, the asset combines street-front exposure and off-main parking to create a flexible setup for businesses seeking a prominent presence in a central location.
Key Highlights
- Commercial/mixed‑use corner property on Main Street (M‑88)
- Private parking lot off Ballard Street with convenient off‑road access
- Year built 1985
Local Financial Insights For Retail
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 | $24.3k | $15.48 |
| − Vacancy | −$1.0k | −$0.65 |
| EGI | $23.3k | $14.83 |
| − OpEx | −$7.0k | −$4.45 |
| NOI | $16.3k | $10.38 |
1,568 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$232.5K
$203.5K – $271.3K
NOI $16,277 @ 7.0% cap · market cap 7.43%
Second Best
Office B
$229.6K
$200.9K – $267.9K
NOI $16,071 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$279.0K
$244.2K – $325.6K
NOI $19,533 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - For-sale mixed-use corner property with high visibility on Main Street and a private parking lot off Ballard Street.
Where is this flex space located?
The property is located at S 2134 S Main Street Unit SourceFi Central Lake, MI.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Commercial/mixed‑use corner property on Main Street (M‑88); Private parking lot off Ballard Street with convenient off‑road access; Year built 1985
