Manufacturing Building with Winery
For Sale
$695,000
641 S Crystal Avenue, Benton Harbor, MI 49022
Commercial Sale, Benton Harbor, MI
Property Size6,400 SF
Lot Size3.00 Acres
Price / SF$108.66
Days on Market85
Property Features for 641 S Crystal Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Benton Harbor
Middle school district
Benton Harbor
High school district
Benton Harbor
Directions
East on Territorial to South on Crystal Ave, just past Britian on East Side of Road/Sign.
Standard status
Active
APN
11-03-0021-0021-05-1
Size
6,396 SF
Lot size
3.00 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
COM 811.2'S OF W1/4 PST SEC 21 T4S R18W TH S 195.3'TH E 651.1'TH N 28 FT TH E 18.1'TH N1DEG E 49'TH E 1' TH N1DEG E 118
Tax Annual Amount
3627
Legal Description
COM 811.2'S OF W1/4 PST SEC 21 T4S R18W TH S 195.3'TH E 651.1'TH N 28 FT TH E 18.1'TH N1DEG E 49'TH E 1' TH N1DEG E 118
Utilities
Utilities
Cable Available
Heating system
Forced Air
Water source
Well
Building Details
Year built
1910
Number of units
1
Listing Agency:
Realty Executives Instant Equity · Realty Executives International
(269) 983-7721
Listed By:
Jill Golden · License #6501424803
(269) 208-8996
Added: Jun 16
Changed: Sep 7
Last Checked: Sep 8 at 7:06PM
MLS# 26029686
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 manufacturing property includes a commercial building on 3 acres in Benton Township. The facility has been used for blending, finishing, and producing wine, cider, and spirits, with forced-air heating, well water, and cable availability. Built in 1910, the building is offered with the operating business assets identified in the sale, including production-related property, a custom tasting bar, tables, and other furnishings.
The transaction also includes a lease takeover for an approximately 2,000-square-foot tasting room in downtown St. Joseph. That location has been remodeled and is subject to a lease running through 12/31/31, with a renewal opportunity for an additional 10 years. The operation holds Michigan Small Winery, cider, and Michigan Small Distillery licenses. Business branding and related proprietary rights are included.
The transaction also includes a lease takeover for an approximately 2,000-square-foot tasting room in downtown St. Joseph. That location has been remodeled and is subject to a lease running through 12/31/31, with a renewal opportunity for an additional 10 years. The operation holds Michigan Small Winery, cider, and Michigan Small Distillery licenses. Business branding and related proprietary rights are included.
Key Highlights
- 3‑acre Benton Township property with commercial manufacturing building
- Approximately 6,396 square feet of commercial building area
- Production use includes blending, finishing, and making wine, cider, and spirits
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
$28,575
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
4.11%
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%
$571,500
$571.5K
Cap Rate 7%
$408,214
$408.2K
Cap Rate 9%
$317,500
$317.5K
Market Conditions
NOI Build-Up for 6,396 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
$44.5K $6.96/SF
− Vacancy
−$3.7K −$0.58/SF
EGI
$40.8K $6.38/SF
− OpEx
−$12.2K −$1.91/SF
NOI
$28.6K $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%
$571,500
Cap Rate 7%
$408,214
Cap Rate 9%
$317,500
Alternative Uses
Best Use
Retail
$948.5K
$830.0K – $1.11M
NOI $66,396 @ 7.0% cap · market cap 9.55%
Second Best
Industrial
$408.2K
$357.2K – $476.3K
NOI $28,575 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,212 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
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 Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Production facility with licensed winery and distillery operations, plus a related tasting-room lease and business assets.
Where is this manufacturing property located?
The property is located at 641 S Crystal Avenue Benton Harbor, MI.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 3‑acre Benton Township property with commercial manufacturing building; Approximately 6,396 square feet of commercial building area; Production use includes blending, finishing, and making wine, cider, and spirits
