South Haven Commercial
For Sale
$235,000
555 Broadway Street, South Haven, MI 49090
COMMERCIAL - South Haven, MI
Property Size1,341 SF
Lot Size0.40 Acres
Price / SF$175.24
Days on Market347
Property Features for 555 Broadway Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
General Busines
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Basement
Interior features
Broadband
Elementary school district
South Haven
Middle school district
South Haven
High school district
South Haven
Directions
rom Phoenix Street, head west to Broadway, then go south three blocks to the address.
Subdivision
Southwestern Michigan - S
Standard status
Active
APN
805351400600
Size
1,341 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
B398 1-17 744-352 922-371 1270-365 1625-794/5 1631-199 *** LOT 6 BLOCK 14 DYCKMAN HALE & CO ADDITION.
Tax Annual Amount
3281
Legal Description
B398 1-17 744-352 922-371 1270-365 1625-794/5 1631-199 *** LOT 6 BLOCK 14 DYCKMAN HALE & CO ADDITION.
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1940
Floors in Building
2
Number of units
1
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Jaqua REALTORS
(269) 637-6537
Listed By:
Amy O'Sullivan · License #6506040161
(269) 214-1257
Added: Sep 10, 2025
Changed: Aug 4
Last Checked: Aug 22 at 5:06PM
MLS# 25046440
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 commercial property is located three blocks from downtown South Haven and the shores of Lake Michigan. Situated on a highly visible corner double lot, the property provides ample space for parking and expansion. Accessibility is enhanced by the presence of convenient ramps. The property, identified by two parcel numbers, offers flexibility for various business or office uses. Located on one of South Haven's most traveled streets, this prime location offers an opportunity to showcase a business. The property has a size of 1341 square feet and a lot size of 0.4 acres.
Key Highlights
- Prime location: Highly visible corner double lot, three blocks from downtown South Haven and Lake Michigan.
- Ample space: Provides ample space for parking and expansion.
- Flexible usage: Suitable for a wide range of business or office uses.
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
$13,745
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
5.85%
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%
$274,900
$274.9K
Cap Rate 7%
$196,357
$196.4K
Cap Rate 9%
$152,722
$152.7K
Market Conditions
NOI Build-Up for 1,341 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
$22.9K $17.04/SF
− Vacancy
−$4.5K −$3.37/SF
EGI
$18.3K $13.67/SF
− OpEx
−$4.6K −$3.42/SF
NOI
$13.7K $10.25/SF
Area
Van Buren County, MI
Vacancy
19.80%
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%
$274,900
Cap Rate 7%
$196,357
Cap Rate 9%
$152,722
Alternative Uses
Best Use
Office B
$196.4K
$171.8K – $229.1K
NOI $13,745 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$16.58M
$14.51M – $19.34M
NOI $1,160,687 @ 7.0% cap · market cap 493.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
820
Businesses Nearby
Explore this area
Business Placement
Demographics for 49090, MI
13,286
Population
8,904
Households
1.5
Avg Household Size
49
Median Age
31%
College-Educated
89%
High-School Grad
78.3 sq mi
ZIP Area
170
Density / Sq Mi
$64,643
Median Household Income
$40,067
Median Earnings
$914
Median Rent
$251,500
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?
Office units - Commercial property near downtown South Haven and Lake Michigan.
Where is this office units located?
The property is located at 555 Broadway Street South Haven, MI.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Prime location: Highly visible corner double lot, three blocks from downtown South Haven and Lake Michigan.; Ample space: Provides ample space for parking and expansion.; Flexible usage: Suitable for a wide range of business or office uses.
