Class A Office Building with
For Sale
$1,100,000
519 Main Street, St Joseph, MI 49085
COMMERCIAL - St. Joseph, MI
Property Size8,620 SF
Lot Size0.47 Acres
Price / SF$127.61
Days on Market120
Property Features for 519 Main Street
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Basement, Bathroom 4, Bathroom 2, Bathroom 1
Interior features
Broadband
Elementary school district
St. Joseph
Middle school district
St. Joseph
High school district
St. Joseph
Standard status
Active
APN
11-76-0340-0243-03-1
Size
8,620 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 243 & 244 & THE SWLY 25' OF LOT 242 ORIGINAL PLAT OF CITY OF ST JOSEPH
Tax Annual Amount
36392
Legal Description
LOTS 243 & 244 & THE SWLY 25' OF LOT 242 ORIGINAL PLAT OF CITY OF ST JOSEPH
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
private outdoor patio
Building Details
Year built
1995
Floors in Building
2
Number of units
1
Building materials
Brick
Roof type
Composition
Listing Agency:
Wright Properties
(269) 369-4640
Listed By:
Kerry M Wright · License #6506043362
(269) 369-4640
Added: Apr 14
Changed: Aug 4
Last Checked: Aug 11 at 11:06PM
MLS# 26015243
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 Class A office building includes multiple executive offices and a sophisticated boardroom with a coffered ceiling and integrated AV. The space is described as privately configured with private restrooms, an elevator, and a private outdoor patio. The property also includes a basement foundation that has been waterproofed with a lifetime transferable warranty, supporting ongoing building durability.
The building is prominently positioned on Main Street in St. Joseph, with accessibility noted within a civic corridor. It offers generous on-site parking and is described as being steps from downtown and minutes from Lake Michigan.
For office users seeking a move-in ready headquarters-style space, the combination of executive office configuration, boardroom, elevator service, and private patio can support professional services and corporate meetings. The waterproofed basement foundation with transferable warranty adds a practical element for buyers focused on building reliability, while the on-site parking and turnkey interior help reduce near-term operational setup.
The building is prominently positioned on Main Street in St. Joseph, with accessibility noted within a civic corridor. It offers generous on-site parking and is described as being steps from downtown and minutes from Lake Michigan.
For office users seeking a move-in ready headquarters-style space, the combination of executive office configuration, boardroom, elevator service, and private patio can support professional services and corporate meetings. The waterproofed basement foundation with transferable warranty adds a practical element for buyers focused on building reliability, while the on-site parking and turnkey interior help reduce near-term operational setup.
Key Highlights
- Brick office building built in 1995 with central air and forced‑air heating
- Over 7,500 SF of finished space plus basement
- Multiple executive offices and a boardroom with coffered ceiling and integrated AV
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
$94,961
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
8.63%
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%
$1,899,220
$1.9M
Cap Rate 7%
$1,356,586
$1.4M
Cap Rate 9%
$1,055,122
$1.1M
Market Conditions
NOI Build-Up for 8,620 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
$146.9K $17.04/SF
− Vacancy
−$20.3K −$2.35/SF
EGI
$126.6K $14.69/SF
− OpEx
−$31.7K −$3.67/SF
NOI
$95.0K $11.02/SF
Area
Berrien 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%
$1,899,220
Cap Rate 7%
$1,356,586
Cap Rate 9%
$1,055,122
Alternative Uses
Best Use
Office B
$1.36M
$1.19M – $1.58M
NOI $94,961 @ 7.0% cap · market cap 8.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $126,971 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
876
Businesses Nearby
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?
Office building - Turnkey Class A office building with finished executive offices, boardroom, elevator, and a private outdoor patio.
Where is this office building located?
The property is located at 519 Main Street St Joseph, MI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Brick office building built in 1995 with central air and forced‑air heating; Over 7,500 SF of finished space plus basement; Multiple executive offices and a boardroom with coffered ceiling and integrated AV
