Grocery Store with
For Sale
$180,000
114 E Ferry Street, Berrien Springs, MI 49103
COMMERCIAL - Berrien Springs, MI
Property Size1,132 SF
Lot Size0.04 Acres
Price / SF$159.01
Days on Market153
Property Features for 114 E Ferry Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Berrien Springs
Middle school district
Berrien Springs
High school district
Berrien Springs
Directions
M-139 to E Ferry.
Standard status
Active
APN
11-32-0340-0145-00-2
Size
1,132 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
On File
Tax Annual Amount
2068
Legal Description
On File
Utilities
Utilities
Cable Available
Heating system
Hot Water(Heating)
Building Details
Year built
1956
Floors in Building
1
Number of units
1
Building materials
Block
Roof type
Rubber
Listing Agency:
Coldwell Banker Anchor R.E.
(269) 983-0011
Listed By:
John M Shail · License #6501310454
(269) 921-4405
Added: Mar 20
Changed: Aug 14
Last Checked: Aug 19 at 1:06PM
MLS# 26011232
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This grocery and convenience store offering includes the operating business, real estate, equipment, and inventory. The property contains 1,132 square feet on a 0.04-acre parcel, with a bathroom and block construction. Built in 1956, the building has hot-water heating and a rubber roof.
The store has operated since 1992 and is located in downtown Berrien Springs. Cable service is available at the property. The sale combines the commercial building with the business assets and existing inventory.
The store has operated since 1992 and is located in downtown Berrien Springs. Cable service is available at the property. The sale combines the commercial building with the business assets and existing inventory.
Key Highlights
- Operating grocery business established in 1992
- Sale includes real estate, equipment, and all inventory
- 1,132 square feet on a 0.04‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,591
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$251,820
$251.8K
Cap Rate 7%
$179,871
$179.9K
Cap Rate 9%
$139,900
$139.9K
Market Conditions
NOI Build-Up for 1,132 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$17.5K $15.48/SF
− Vacancy
−$736 −$0.65/SF
EGI
$16.8K $14.83/SF
− OpEx
−$4.2K −$3.71/SF
NOI
$12.6K $11.12/SF
Area
Berrien County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$251,820
Cap Rate 7%
$179,871
Cap Rate 9%
$139,900
Alternative Uses
Best Use
Specialty Retail
$179.9K
$157.4K – $209.9K
NOI $12,591 @ 7.0% cap · market cap 7.00%
Second Best
Retail
$167.9K
$146.9K – $195.9K
NOI $11,751 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$238.2K
$208.4K – $277.9K
NOI $16,674 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
12k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Speedway
Shops & Services
7,564 visits/mo
0.1 miles
Berrien Springs Water Department
Shops & Services
3,931 visits/mo
0.2 miles
FedEx Office Print & Ship Center
Shops & Services
649 visits/mo
0.1 miles
Demographics for 49103, MI
11,508
Population
4,833
Households
2.4
Avg Household Size
39
Median Age
52%
College-Educated
94%
High-School Grad
44.8 sq mi
ZIP Area
257
Density / Sq Mi
$61,888
Median Household Income
$32,524
Median Earnings
$878
Median Rent
$224,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- New Berrien Springs Oriental Supermarket — 116 E Ferry St, Berrien Springs, MI 49103
- Berrien and Springs Liquor and party store — 9513 Old 31, Berrien Springs, MI 49103
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Established downtown grocery business offered with its building, equipment, and inventory.
Where is this grocery and convenience store located?
The property is located at 114 E Ferry Street Berrien Springs, MI.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Operating grocery business established in 1992; Sale includes real estate, equipment, and all inventory; 1,132 square feet on a 0.04‑acre parcel
