106 Locust St Allegan, MI 49010
For Sale
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This exceptional 3,300 square foot, two-story commercial building presents a rare opportunity in Allegan's vibrant Central Business and Historical District. Built in the late 1800s, this late Victorian brick structure boasts original upper facades, retaining its historical charm. The street-level space offers approximately 1,650 square feet of adaptable area, perfect for retail or office use. A convenient back alley entrance and an interior spiral staircase provide access to the upper level, which also encompasses approximately 1,650 square feet. The upper level currently requires renovation but holds significant potential for conversion into two apartments. A full basement adds further versatility. A separate 290-square-foot single-stall garage is situated on a detached lot accessible from the back alley. The property sits on a 0.06-acre lot. Note that a neighboring property at 110 Locust is available for sale only in conjunction with this listing and includes a life lease to the existing tenant at that address. This combined offering presents a unique investment opportunity for those seeking a blend of historical character and substantial redevelopment potential within a thriving downtown setting. The property is priced at $180,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
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Risks
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