Property profile

Locust St Allegan, MI 49010

OFF-MARKET
Commercial real estate
0.05 ac lot Built 1880
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Property summary

AI-generated overview

This exceptional investment opportunity presents two adjacent, historically significant commercial buildings situated in the heart of Allegan's vibrant downtown business district. These late 1800s structures boast original upper facades, showcasing their rich Victorian architectural heritage. Each building offers approximately 1650 square feet of street-level space, ideal for retail or office use, providing a combined total of approximately 3300 square feet of ground floor commercial space. A shared exterior staircase leads to the upper level, where two apartments are currently available. These apartments require renovation, presenting a significant value-add opportunity for a discerning investor. The property also includes full basements in both buildings, offering additional storage or potential for expansion. Located on a 0.05-acre lot, this property benefits from its central location within the historic district, ensuring high visibility and accessibility. The asking price for this unique dual-building property is $360,000, representing a compelling investment in a thriving Michigan community. The potential for rental income from both the commercial spaces and the renovated apartments makes this a strong addition to any portfolio. This is a rare chance to own a piece of Allegan's history and capitalize on its continued growth.

Property profile

Verified
Property type Commercial real estate
Year built 1880
Lot 0.05 ac (2,178 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

Locust St Allegan, MI 49010
Allegan metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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