Medical Office Suite with New
For Sale
$317,000
3901 Stonegate Park, St Joseph, MI 49085
COMMERCIAL - St. Joseph, MI
Property Size2,046 SF
Lot Size3.30 Acres
Price / SF$154.94
Days on Market171
Property Features for 3901 Stonegate Park
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Elementary school district
St. Joseph
Middle school district
St. Joseph
High school district
St. Joseph
Directions
Hollywood Rd just south of Maiden Ln to Stonegate Medical Park entrance
Standard status
Active
APN
11-17-7340-0002-00-1
Size
2,046 SF
Lot size
3.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Unit B Stonegate liber 104 pg 1 Stonegate First Amendment liber 104 pg 56
Tax Annual Amount
3683
Legal Description
Unit B Stonegate liber 104 pg 1 Stonegate First Amendment liber 104 pg 56
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1998
Number of units
1
Listing Agency:
Core Real Estate, Inc.
(269) 429-8001
Listed By:
Loren Gerber · License #6506008606
(269) 921-0754
Added: Mar 3
Changed: Aug 4
Last Checked: Aug 21 at 9:06AM
MLS# 26007696
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.
Suite B (#200) at Stonegate Medical Center provides 2,046 square feet of medical office space, plus 427 square feet of allocated common area for a total of 2,473 square feet. The interior includes six offices, reception and waiting areas, two bathrooms, and a utility room; the office configuration is noted as expandable to eight offices. The suite was previously used for orthopedic practice operations.
A covered entrance opens into a shared foyer serving the building’s five medical condominium units. The center occupies a 3.3-acre site at Hollywood and Maiden Lane, across from a hospital outpatient complex. The building was constructed in 1998 and received a new furnace and A/C in 2024. Forced-air heating, central air conditioning, and ample parking are also provided.
A covered entrance opens into a shared foyer serving the building’s five medical condominium units. The center occupies a 3.3-acre site at Hollywood and Maiden Lane, across from a hospital outpatient complex. The building was constructed in 1998 and received a new furnace and A/C in 2024. Forced-air heating, central air conditioning, and ample parking are also provided.
Key Highlights
- 2,046 SF suite with 427 SF allocated common area; 2,473 SF total
- Six offices with a layout noted as expandable to eight
- Reception and waiting areas, two bathrooms, and a utility room
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
$22,813
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
7.20%
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%
$456,260
$456.3K
Cap Rate 7%
$325,900
$325.9K
Cap Rate 9%
$253,478
$253.5K
Market Conditions
NOI Build-Up for 2,046 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
$43.7K $21.36/SF
− Vacancy
−$5.7K −$2.78/SF
EGI
$38.0K $18.58/SF
− OpEx
−$15.2K −$7.43/SF
NOI
$22.8K $11.15/SF
Area
Berrien County, MI
Vacancy
13.00%
Lease Rate
$21.36 /SF/Yr
Expense Ratio
40.00%
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%
$456,260
Cap Rate 7%
$325,900
Cap Rate 9%
$253,478
Alternative Uses
Best Use
Healthcare Medical
$325.9K
$285.2K – $380.2K
NOI $22,813 @ 7.0% cap · market cap 7.20%
Second Best
Office B
$322.0K
$281.7K – $375.7K
NOI $22,539 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$430.5K
$376.7K – $502.3K
NOI $30,137 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
456
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
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?
Medical Office Space - Configured with private offices, reception, waiting areas, two bathrooms, and a utility room.
Where is this medical office space located?
The property is located at 3901 Stonegate Park St Joseph, MI.
What is the asking price?
The asking price for this property is $317,000.
What are key features of this property?
This property features: 2,046 SF suite with 427 SF allocated common area; 2,473 SF total; Six offices with a layout noted as expandable to eight; Reception and waiting areas, two bathrooms, and a utility room
