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98 W Center St 4,400 SF 100% Leased Retail Building Douglas, MI 49406 $1,499,000 ($340.68/SF) 6.54% Cap Rate
Executive Summary
Charming, fully renovated historic mixed-use building in the heart of downtown Douglas, 98 W Center Street offers two street-level commercial suites, three spacious residential apartments, on-site parking, and a rear garden patio. Originally built circa 1900 and comprehensively renovated in 2002 with a new foundation and updated systems, it combines classic character with modern functionality, including the ability to configure the main floor into up to three storefronts. The upper 2-bedroom and 1-bedroom units, along with a large, newly renovated 3-bedroom lower-level apartment, are ideal for long-term tenants or seasonal short-term rentals (Airbnb/VRBO), capturing the strong Douglas/Saugatuck lakeshore tourism market just steps from boutiques, galleries, restaurants, and the Kalamazoo River waterfront.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,400 SF
Building Class
C
Year Built
1960
Price
$1,499,000
Price Per SF
$340.68
Cap Rate
6.54%
NOI
$98,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.51
Lot Size
0.20 AC
Zoning
Commercial - C-1A Village Center Commercial
Parking
6 Spaces (1.36 Spaces per 1,000 SF Leased)
Frontage
66’ on Center St
Amenities
- Signage
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
- Smoke Detector
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Floral
- Retailer
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99,999 SF
- -
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Lorem Ipsum
- -
- Tailor
- Services
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99,999 SF
- -
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Lorem Ipsum
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Floral | Retailer | 99,999 SF | - | Lorem Ipsum | - | |
| Tailor | Services | 99,999 SF | - | Lorem Ipsum | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 59-551-002-00 | Improvements Assessment | $152,300 |
| Land Assessment | $56,600 | Total Assessment | $208,900 |
Property Taxes
Parcel Number
59-551-002-00
Land Assessment
$56,600
Improvements Assessment
$152,300
Total Assessment
$208,900
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98 W Center St
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