Main Street Auto
For Sale
$330,000
1467 Main Street, St Joseph, MI 49085
Commercial Sale, St. Joseph, MI
Property Size1,175 SF
Lot Size0.14 Acres
Price / SF$280.85
Days on Market99
Property Features for 1467 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
St. Joseph
Middle school district
St. Joseph
High school district
St. Joseph
Standard status
Active
APN
11-76-1650-0001-00-5
Size
1,175 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOTS 1 & 2 DUNCANS ADD TO CITY OF ST JOSEPH EXC E 60' THEREOF
Tax Annual Amount
2550
Legal Description
LOTS 1 & 2 DUNCANS ADD TO CITY OF ST JOSEPH EXC E 60' THEREOF
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1950
Floors in Building
1
Number of units
1
Building materials
Wood Siding, Stone
Roof type
Rubber
Listing Agency:
Realty Executives Instant Equity · Realty Executives International
(269) 983-7721
Listed By:
Anthony F Clark
(616) 638-7185
Added: Jun 18
Changed: Sep 7
Last Checked: Sep 24 at 6:06AM
MLS# 26030451
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 1,175-square-foot automotive property occupies a 0.14-acre parcel on Main Street in St. Joseph. The building dates to 1950 and includes a bathroom, central air conditioning, forced-air heating, rubber roofing, and a combination of wood siding and stone construction. Broadband is available, along with cable service.
The property is currently operated as Hardin's Auto Repair and Car Rental. Its location is a couple of blocks from downtown St. Joseph and the area's beaches, placing an established automotive use near prominent local destinations.
The property is currently operated as Hardin's Auto Repair and Car Rental. Its location is a couple of blocks from downtown St. Joseph and the area's beaches, placing an established automotive use near prominent local destinations.
Key Highlights
- 1,175‑square‑foot automotive property on a 0.14‑acre parcel
- Located at 1467 Main Street in St. Joseph, MI 49085
- Current operation includes auto repair and car rental
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
$12,198
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
3.70%
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%
$243,960
$244.0K
Cap Rate 7%
$174,257
$174.3K
Cap Rate 9%
$135,533
$135.5K
Market Conditions
NOI Build-Up for 1,175 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
$18.2K $15.48/SF
− Vacancy
−$764 −$0.65/SF
EGI
$17.4K $14.83/SF
− OpEx
−$5.2K −$4.45/SF
NOI
$12.2K $10.38/SF
Area
Berrien County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$243,960
Cap Rate 7%
$174,257
Cap Rate 9%
$135,533
Alternative Uses
Best Use
Retail
$174.3K
$152.5K – $203.3K
NOI $12,198 @ 7.0% cap · market cap 3.70%
Second Best
Industrial
$75.0K
$65.6K – $87.5K
NOI $5,249 @ 7.0% cap · market cap 1.59%
Theoretical Best
Office A
$247.3K
$216.4K – $288.5K
NOI $17,308 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49085, MI
24,047
Population
11,468
Households
2.1
Avg Household Size
44
Median Age
49%
College-Educated
97%
High-School Grad
24.1 sq mi
ZIP Area
998
Density / Sq Mi
$101,763
Median Household Income
$58,316
Median Earnings
$1,099
Median Rent
$287,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Le Roys of St Joe — 2504 Pixley Ave, St Joseph, MI 49085
- First Choice Auto Glass Center — St Joseph, MI 49085
- Hardin's Auto Service — 1467 main st, st joseph, mi 49085
- Zielke's — 1207 Broad St, St Joseph, MI 49085
Frequently Asked Questions
What type of property is this?
Auto shop - Established automotive property with central air, forced-air heat, and a separate bathroom.
Where is this auto shop located?
The property is located at 1467 Main Street St Joseph, MI.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 1,175‑square‑foot automotive property on a 0.14‑acre parcel; Located at 1467 Main Street in St. Joseph, MI 49085; Current operation includes auto repair and car rental
