Zoned Commercial Work
For Sale
$350,000
3383 Blue Star Highway, Saugatuck, MI 49453
COMMERCIAL - Saugatuck, MI
Property Size1,280 SF
Lot Size0.67 Acres
Price / SF$273.44
Days on Market42
Property Features for 3383 Blue Star Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Saugatuck-Douglas
Middle school district
Saugatuck-Douglas
High school district
Saugatuck-Douglas
Directions
Blue Star Hwy to Address. Property is just South of 134th, on Blue Star Hwy, East side of Road.
Standard status
Active
APN
20-010-013-10
Size
1,280 SF
Lot size
0.67 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
See Attached
Tax Annual Amount
4475
Legal Description
See Attached
Utilities
Sewer type
Septic Tank
Heating system
Radiant
Cooling system
Central Air
Building Details
Year built
1984
Number of units
1
Building materials
Metal Siding
Roof type
Composition
Listing Agency:
BHG Connections
(269) 400-5400
Listed By:
Kevin Schippa · License #6506048199
(616) 212-3391
Added: Jul 24
Changed: Aug 4
Last Checked: Sep 3 at 5:06PM
MLS# 26038350
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 for-sale commercial property includes a 1,280-square-foot open floor plan work studio. The space is equipped with a bathroom, AC, natural gas, and public water.
The site totals 0.67 acres and offers 100 feet of road frontage on Blue Star Highway, with less than 5 minutes to Downtown Saugatuck.
The property is zoned C-1 and is described as offering a multitude of possibilities under the current zoning framework.
The site totals 0.67 acres and offers 100 feet of road frontage on Blue Star Highway, with less than 5 minutes to Downtown Saugatuck.
The property is zoned C-1 and is described as offering a multitude of possibilities under the current zoning framework.
Key Highlights
- Zoned C‑1 commercial property on Blue Star Hwy with 100' of road frontage
- On 0.67‑acre lot, less than 5 minutes to downtown Saugatuck
- Includes 1,280 SF open floor plan work studio with bathroom
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
$14,101
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
4.03%
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%
$282,020
$282.0K
Cap Rate 7%
$201,443
$201.4K
Cap Rate 9%
$156,678
$156.7K
Market Conditions
NOI Build-Up for 1,280 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
$21.8K $17.04/SF
− Vacancy
−$3.0K −$2.35/SF
EGI
$18.8K $14.69/SF
− OpEx
−$4.7K −$3.67/SF
NOI
$14.1K $11.02/SF
Area
Allegan County, MI
Vacancy
13.80%
Lease Rate
$17.04 /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%
$282,020
Cap Rate 7%
$201,443
Cap Rate 9%
$156,678
Alternative Uses
Best Use
Office B
$201.4K
$176.3K – $235.0K
NOI $14,101 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$12.02M
$10.52M – $14.02M
NOI $841,437 @ 7.0% cap · market cap 240.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
113
Businesses Nearby
Explore this area
Business Placement
Demographics for 49453, MI
2,950
Population
2,113
Households
1.4
Avg Household Size
53
Median Age
52%
College-Educated
98%
High-School Grad
10.4 sq mi
ZIP Area
284
Density / Sq Mi
$101,250
Median Household Income
$49,970
Median Earnings
$766
Median Rent
$487,400
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?
Creative space - A 1,280-square-foot open floor plan work studio sits on 0.67 acres with 100 feet of road frontage.
Where is this creative space located?
The property is located at 3383 Blue Star Highway Saugatuck, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Zoned C‑1 commercial property on Blue Star Hwy with 100' of road frontage; On 0.67‑acre lot, less than 5 minutes to downtown Saugatuck; Includes 1,280 SF open floor plan work studio with bathroom
