Flex Space with 26-Foot
For Sale
$375,000
295 Urbandale Avenue, Benton Harbor, MI 49022
COMMERCIAL - Benton Harbor, MI
Property Size7,500 SF
Lot Size1.14 Acres
Price / SF$50
Days on Market26
Property Features for 295 Urbandale Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Elementary school district
Benton Harbor
Middle school district
Benton Harbor
High school district
Benton Harbor
Standard status
Active
APN
11-03-7850-0024-01-0
Size
7,500 SF
Lot size
1.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT:2,24-25 DIST:03 UNIT:2,2 CITY/MUNI/TWP:BENTON TWP PT OF LOTS 24 & 25 SUPERV PLAT OF URBANDALE ADD COM 877.01'S OF...
Tax Annual Amount
5605
Legal Description
LOT:2,24-25 DIST:03 UNIT:2,2 CITY/MUNI/TWP:BENTON TWP PT OF LOTS 24 & 25 SUPERV PLAT OF URBANDALE ADD COM 877.01'S OF...
Utilities
Utilities
Phone Available
Heating system
Forced Air
Cooling system
Central Air
Amenities
recording booth
kitchenette
overhead door
Building Details
Year built
1986
Number of units
1
Building materials
Brick, Metal Siding
Listing Agency:
Coldwell Banker Anchor R.E.
(269) 983-0011
Listed By:
Wendy Morauske
(269) 369-3699
Added: Jul 30
Changed: Aug 7
Last Checked: Aug 24 at 10:06AM
MLS# 26039376
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 7,500-square-foot flex property sits on 1.14 acres and was constructed in 1986 with brick and metal siding. The interior includes substantial warehouse areas, multiple offices, a recording booth, two bathrooms, and a kitchenette. A 26-foot ceiling height and a large exterior overhead door support a range of operational configurations. The building has central air, forced-air heating, two AC units, and three heating and cooling zones.
Located at 295 Urbandale Avenue in Benton Harbor, the property offers access to I-94 and Lake Michigan shoreline communities. Phone service is available, and the property is being sold as-is.
Located at 295 Urbandale Avenue in Benton Harbor, the property offers access to I-94 and Lake Michigan shoreline communities. Phone service is available, and the property is being sold as-is.
Key Highlights
- 7,500 square feet on 1.14 acres
- 26‑foot ceiling height in the building
- Multiple offices, warehouse areas, recording booth, kitchenette, and 2 bathrooms
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
$33,507
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
8.94%
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%
$670,140
$670.1K
Cap Rate 7%
$478,671
$478.7K
Cap Rate 9%
$372,300
$372.3K
Market Conditions
NOI Build-Up for 7,500 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
$52.2K $6.96/SF
− Vacancy
−$4.3K −$0.58/SF
EGI
$47.9K $6.38/SF
− OpEx
−$14.4K −$1.91/SF
NOI
$33.5K $4.47/SF
Area
Berrien County, MI
Vacancy
8.30%
Lease Rate
$6.96 /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%
$670,140
Cap Rate 7%
$478,671
Cap Rate 9%
$372,300
Alternative Uses
Best Use
Office B
$1.18M
$1.03M – $1.38M
NOI $82,623 @ 7.0% cap · market cap 22.03%
Second Best
Warehouse
$581.2K
$508.6K – $678.1K
NOI $40,687 @ 7.0% cap · market cap 10.85%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,474 @ 7.0% cap · market cap 29.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
26 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49022, MI
30,143
Population
14,484
Households
2.1
Avg Household Size
39
Median Age
18%
College-Educated
85%
High-School Grad
67.3 sq mi
ZIP Area
448
Density / Sq Mi
$39,859
Median Household Income
$29,530
Median Earnings
$797
Median Rent
$140,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Brick-and-metal flex property combines warehouse areas, offices, a recording booth, and practical support amenities.
Where is this flex space located?
The property is located at 295 Urbandale Avenue Benton Harbor, MI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 7,500 square feet on 1.14 acres; 26‑foot ceiling height in the building; Multiple offices, warehouse areas, recording booth, kitchenette, and 2 bathrooms
