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    Property profile & analytics

    120 Main St Fennville, MI 49408

    • Office buildings
    • 8,254 SF
    • 0.14 lot acres
    For Sale
    View listing
    $400,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2315264
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Root Cafe - Fennville / Takeout Restaurant / Restaurant
    • Farm Bureau Insurance / Insurance Agency
    • Fernwood 1891 / Art Gallery

    Property Details for 120 Main St

    Year built
    1880
    Lot size
    0.14 lot acres
    Property size
    8,254 SF
    Property type
    Office buildings
    APN
    52-200-019-00
    APU
    5220001900

    Description

    This exceptional 8,254 square foot industrial property, situated on a 0.14-acre lot at 120 E Main in Fennville, Michigan, presents a unique investment opportunity. Located in the heart of downtown Fennville, this historic building benefits from its central position within a vibrant community experiencing significant growth in agritourism and the arts. The property currently houses a successful and established coffee house and cafe, complete with all kitchen equipment, ample outdoor seating on both front and back patios, and a valuable Class C liquor license. This turnkey operation provides immediate income potential and a strong foundation for continued success. Adding to the property's versatility, two sizable residential apartments occupy the upper level, offering additional revenue streams and potential for future expansion or rental income. The building's prime location within Fennville's thriving downtown, surrounded by wineries, vineyards, orchards, and farms, ensures high visibility and consistent foot traffic. This multi-use property offers a rare blend of commercial and residential income potential, making it an ideal investment for discerning buyers seeking a well-established business with significant upside. The property's historic character and central location within a rapidly growing area combine to create a truly exceptional investment opportunity. The sale includes all existing kitchen equipment and the Class C liquor license.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $400,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $379,000
      Market price range: $363k - $1.21M
      AI Estimate
      $460,000
      Market price range: $461k - $1.33M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fennville
    County
    Allegan
    State
    Michigan
    Longitude
    -86.1038
    Latitude
    42.594
    CBSA code
    26090
    CBSA name
    HOLLAND, MI MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,953
    $11,600
    $167,300
    $178,900
    -
    $23,200
    $334,600
    $357,800

    Comparable in this City

    • Value Estimation by Request
      9,282 SF

      2611 56th St

      OFFICE BUILDING • 9,282 SF
      2611 56th St, Fennville, MI 49408-9443
      View Details
    • Value Estimation
      $390,000
      2,377 SF

      5490 118th Ave

      OFFICE BUILDING • 2,377 SF
      5490 118th Ave, Fennville, MI 49408
      View Details
    • Value Estimation
      $285,000
      2,880 SF

      216 Main St

      OFFICE BUILDING • 2,880 SF
      216 Main St, Fennville, MI 49408-5106
      View Details
    • Value Estimation
      $330,000
      1,024 SF

      6802 124th Ave

      OFFICE BUILDING • 1,024 SF
      6802 124th Ave, Fennville, MI 49408-9623
      View Details
    • Value Estimation by Request
      1,664 SF

      717 Main St

      OFFICE BUILDING • 1,664 SF
      717 Main St, Fennville, MI 49408-9577
      View Details
    • Value Estimation
      $245,000
      2,600 SF

      202 1st St

      MEDICAL CLINIC • 2,600 SF
      202 1st St, Fennville, MI 49408-5121
      View Details

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    120 Main St
    Fennville, MI 49408
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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