Property profile

137 N Main St Plainwell, MI 49080

FOR LEASE
Turn key restaurants
Property ID
US43-2464156
4,136 SF 0.05 ac lot
Individually Owned ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 4,136 square foot commercial building presents a prime investment opportunity in the heart of vibrant Downtown Plainwell, Michigan. Situated on a 0.05-acre lot at 137 N Main Street, this property offers a unique blend of commercial and residential space. The main floor, previously a restaurant, is currently vacant and ready for immediate occupancy. It features a fully equipped commercial kitchen, complete with a walk-in cooler, and two restrooms, making it perfectly suited for a variety of uses, including restaurants, retail shops, or office spaces. The layout is spacious and adaptable, allowing for customization to meet the needs of a new business. Upstairs, a desirable three-bedroom, two-bathroom apartment provides a significant income stream. Currently leased at $1,500 per month, this modern apartment boasts in-unit laundry facilities and a dedicated office space, offering comfortable and convenient living. The apartment's consistent rental income provides a strong foundation for your investment, while the vacant commercial space offers the potential for substantial growth and return. This property represents a rare chance to acquire a well-located, versatile building in a thriving downtown area, offering both immediate income and significant long-term potential. The combination of a prime location, existing infrastructure, and the potential for diverse uses makes this an exceptional opportunity for savvy investors. The asking price is $249,900.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Total area 4,136 SF
Lot 0.05 ac (2,222 SF)
APN 55-160-013-00
UPID US43-2464156

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Restaurant

Location

137 N Main St Plainwell, MI 49080
Plainwell metro Census 32000 HOLLAND, MI MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$245k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$250k

Owner & transaction history

since 2025
Last sale
$170,000
4 recorded transactions
2025
Price N/A
2023
$170,000
2019
Price N/A
2006
$200,000

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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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