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    130 E Water St Constantine, MI 49042

    Sponsored
    For Sale
    $249,900

    COMMERCIAL - Constantine, MI

    Property size:
    2,414 SF
    Lot size:
    0.12 Acres
    Days on Market:
    5
    Last Refresh:
    Feb 28 at 11:06 am

    Property Features for 130 E Water St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Basement
    Bathrooms
    2
    APN
    04308002200
    Interior features
    Broadband
    Size
    2,414 SF
    Lot size
    0.12 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Baseboard
    Cooling system
    Wall Unit(s)

    Building Details

    Year built
    1900
    Floors in Building
    2
    Number of units
    2
    Building materials
    Brick, Stone
    Roof type
    Rubber

    We can help!

    Listing Contact
    Josh Nagy
    Josh Nagy

    Berkshire Hathaway HomeServices MI (269) 342-5600

    Listing agent Josh Nagy (269) 806-4525

    Listing date Feb 24, 2026

    MLS# 26006717

    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.

    Learn more

    Property Insight Report

    Overview

    Charming Mixed-Use Building, Constantine, MI

    This property features a 1,200 sq ft main level that formerly operated as a coffee, sandwich, and ice cream shop. The space comes fully equipped with all fixtures and equipment. The main level includes a fully furnished coffee bar, commercial refrigeration, an employee restroom, and a customer restroom. Upstairs, there is a 2-bedroom, 2-bath apartment finished with high-end materials and thoughtful details. The apartment has a private entrance, a 2-car garage, stainless steel appliances, ceramic heated tile flooring, and a whirlpool tub. The property also includes a full basement, providing additional space for storage or expansion. Outside, there is a private fenced area. The building is suitable for an owner-operator or for generating additional rental income. The property is located in downtown Constantine, MI, and offers income potential. The lot size is 0.12 acres, and the total property size is 2,414 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Coffee shops

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Constantine
    County
    St. Joseph
    State
    Michigan
    Longitude
    -85.668371
    Latitude
    41.842112

    Nearby Similar for Sale

    • $249,900
      1,120 SF

      Waterfront Ranch with Large Deck

      Three-bedroom ranch home featuring 170 feet of St. Joseph River waterfront.
      67118 Oxbow Dr, Constantine, MI 49042
      View Details
    • $249,900

      Waterfront Ranch with Large Deck

      Three-bedroom ranch home featuring 170 feet of St. Joseph River waterfront.
      67118 Oxbow Dr, Constantine, MI 49042
      View Details
    • $225,000
      8,000 SF

      Constantine Industrial Building For Sale

      8,000 sq ft, 1.84 acres, great potential.
      675 Centreville St, Constantine, MI 49042
      View Details

    FAQs

    What type of property is this?
    Coffee shop - Well-equipped commercial space with a beautiful 2-bedroom apartment.
    Where is this coffee shop located?
    The property is located at 130 E Water St Constantine, MI.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: - Fully equipped 1,200 sq ft commercial space ready for immediate operation as a coffee, sandwich, and ice cream shop.; - Beautifully finished 2-bedroom, 2-bath apartment upstairs with private entrance, ideal for owner-occupancy or rental income.; - Prime downtown location offering high visibility and accessibility.
    (269) 806-4525
    Request Owner's contact information
    130 E Water St Constantine, MI 49042
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    Constantine, MI 49042
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    130 E Water St Constantine, MI 49042
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    We can help!
    Listing Contact
    Josh Nagy
    Josh Nagy
    Real Estate License ID: 6506046197
    (269) 806-4525 (269) 467-3062
    Learn more
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