Finished Warehouse Storage
For Sale
$275,000
71057 CR 388, South Haven, MI 49090
COMMERCIAL - South Haven, MI
Property Size1,750 SF
Price / SF$157.14
Days on Market346
Property Features for 71057 CR 388
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
South Haven
Middle school district
South Haven
High school district
South Haven
Directions
Phoenix Street East to address on South side of street.
Subdivision
Southwestern Michigan - S
Standard status
Active
APN
801718902500
Size
1,750 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Unit 25 Phoenix Business Complex Condominiums together with rights in the common elements as described in the master
Tax Annual Amount
1351
Legal Description
Unit 25 Phoenix Business Complex Condominiums together with rights in the common elements as described in the master
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
2008
Floors in Building
2
Number of units
1
Building materials
Metal Siding
Roof type
Composition
Listing Agency:
Jaqua REALTORS
(269) 637-6537
Listed By:
Amy O'Sullivan · License #6506040161
(269) 214-1257
Added: Sep 12, 2025
Changed: Aug 5
Last Checked: Aug 23 at 11:06PM
MLS# 25046933
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.
Unit 25 is a finished warehouse-style storage property offering 1,750 square feet of enclosed space. The interior includes a custom kitchen with quartz counters, a full bathroom with tile shower, a clothing closet, and a lofted lounge. The unit is suited to storing cars, boats, or a motorhome while providing amenities for extended use.
Construction features include 2x6 framing, R-22 insulated walls, R-44 insulated ceilings, 5/8-inch drywall, metal siding, a composition roof, and a 60,000 BTU natural gas furnace. Access is provided by a 36-inch entry door and a 14-by-14-foot insulated automatic overhead door. Additional infrastructure includes a utility sink, hot and cold running water, floor drain, 40-gallon water heater, forced-air heating, cable availability, and broadband. Built in 2008, the property is located at 71057 CR 388 in South Haven, near downtown.
Construction features include 2x6 framing, R-22 insulated walls, R-44 insulated ceilings, 5/8-inch drywall, metal siding, a composition roof, and a 60,000 BTU natural gas furnace. Access is provided by a 36-inch entry door and a 14-by-14-foot insulated automatic overhead door. Additional infrastructure includes a utility sink, hot and cold running water, floor drain, 40-gallon water heater, forced-air heating, cable availability, and broadband. Built in 2008, the property is located at 71057 CR 388 in South Haven, near downtown.
Key Highlights
- 1,750‑square‑foot Unit 25 with warehouse‑style storage space
- Custom kitchen with quartz counters, full bathroom, closet, and lofted lounge
- 14‑by‑14‑foot insulated automatic overhead door
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
$17,089
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
6.21%
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%
$341,780
$341.8K
Cap Rate 7%
$244,129
$244.1K
Cap Rate 9%
$189,878
$189.9K
Market Conditions
NOI Build-Up for 1,750 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
$26.3K $15.00/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$24.4K $13.95/SF
− OpEx
−$7.3K −$4.19/SF
NOI
$17.1K $9.76/SF
Area
Van Buren County, MI
Vacancy
7.00%
Lease Rate
$15.00 /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%
$341,780
Cap Rate 7%
$244,129
Cap Rate 9%
$189,878
Alternative Uses
Best Use
Self Storage
$244.1K
$213.6K – $284.8K
NOI $17,089 @ 7.0% cap · market cap 6.21%
Second Best
Warehouse
$156.8K
$137.2K – $182.9K
NOI $10,976 @ 7.0% cap · market cap 3.99%
Theoretical Best
Multifamily LT 5
$21.64M
$18.93M – $25.24M
NOI $1,514,692 @ 7.0% cap · market cap 550.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
59
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- South Haven Self Storage — 71057 Co Rd 388, South Haven, MI 49090
- Phoenix Business Complex — 71057 Co Rd 388, South Haven, MI 49090
Frequently Asked Questions
What type of property is this?
Warehouse - Finished commercial storage space with a private bathroom, lounge loft, kitchen, heating, and vehicle-access overhead door.
Where is this warehouse located?
The property is located at 71057 CR 388 South Haven, MI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,750‑square‑foot Unit 25 with warehouse‑style storage space; Custom kitchen with quartz counters, full bathroom, closet, and lofted lounge; 14‑by‑14‑foot insulated automatic overhead door
