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98 W Center St 4,400 SF 67% Leased Retail Building Douglas, MI 49406 $1,499,000 ($340.68/SF)
Investment Highlights
- • Fully renovated historic mixed-use building in the heart of downtown Douglas
- • Main level is fully leased with two tenants, can be configured as up to three separate storefronts
- • Residential apartments may also be operated as short-term vacation rentals (e.g., Airbnb/VRBO) during the tourist season
- • Flexible floor plan designed to allow easy division and reconfiguration of rental spaces.
- • Upper and lower levels provide multiple residential income streams with strong rental demand in this popular lakeshore resort market.
- • On-site rear parking lot and garden-style outdoor patio area ideal for tenant and customer use.
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.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,400 SF
Building Class
C
Year Built
1960
Price
$1,499,000
Price Per SF
$340.68
Percent Leased
67%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.51
Lot Size
0.20 AC
Zoning
Commercial - C-1A Village Center Commercial
Parking
12 Spaces (2.73 Spaces per 1,000 SF Leased)
Frontage
66’ on Center St
Amenities
- Signage
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
- Smoke Detector
Fairly walkable
50/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 59-551-002-00 | Improvements Assessment | $152,300 (2025) |
| Land Assessment | $56,600 (2025) | Total Assessment | $208,900 (2025) |
Property Taxes
Parcel Number
59-551-002-00
Land Assessment
$56,600 (2025)
Improvements Assessment
$152,300 (2025)
Total Assessment
$208,900 (2025)
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98 W Center St
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