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    Commercial real estate

    439 Butler St Saugatuck, MI 49453

    2,500 SF 0.09 ac lot Built 1904
    Entity Owned 3-yr Hold ~ Est. High Equity
    Property ID
    US43-2499248
    439 Butler St, Saugatuck, MI 49453 For Sale 1 / 106
    $2,225,000 2,500 SF
    439 Butler St, Saugatuck, MI 49453
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    Property summary
    AI-generated overview

    This exceptional mixed-use property in the heart of Saugatuck, Michigan presents a unique investment opportunity. The 9,176 square foot building boasts a beautiful brick façade and is situated on a 0.09-acre lot on Butler Street, just a block from the Kalamazoo River and adjacent to city parks. Its prime location offers excellent visibility from the bustling street. The building features a blend of residential and commercial spaces, providing diverse income streams. Upstairs, three unique residential units offer a mix of amenities. One unit includes two bedrooms, two bathrooms, and a fireplace. Another features one bedroom and one bathroom, while the third boasts one bedroom, one bathroom, a fireplace, and access to a private 30x30 foot deck. All residential units benefit from newer mechanical systems. Downstairs, five established commercial spaces are currently leased to thriving businesses. Each commercial unit is equipped with its own heating and air conditioning, and they share a common bathroom. The building also includes a full basement and ample parking. Original features such as maple floors and decorative tin ceilings add to the property's charm and historical significance. This property offers a compelling combination of historical character, strong rental income, and a highly desirable location. The asking price is $2,250,000.

    Property profile
    Verified
    Property type Commercial real estate
    Use group COMMERCIAL (GENERAL)
    Year built 1904
    Total area 2,500 SF
    Lot 0.09 ac (3,964 SF)
    APN 57-300-064-00
    UPID US43-2499248
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Satya Yoga Gym & Fitness Center
    • The Butler Pantry Home Decor Store Department Store
    • Back to the Fuchsia (Bike/Boat/Book/etc) Store Florist
    • In The Elements Rental & Bike Repair Cycling Facility (Bike/Boat/Book/etc) Store
    4 occupants on record
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
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    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    Owner & transaction history
    439 Butler LLC · 3 yrs held
    439 Butler LLC
    since 2022
    2 recorded transactions
    2022
    Price N/A
    2022
    Price N/A
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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