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    Upscale South Haven Storage Unit Title is generated by Realmo AI

    71057 CR 388, South Haven, MI 49090

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    Claim this Listing
    For Sale
    $275,000

    COMMERCIAL - South Haven, MI

    Type:Retail
    Property size:
    1,750 SF
    Price / SF:
    $157/SF
    Added:
    Sep 12, 2025
    Days on Market:
    262
    Last Refresh:
    May 31 at 3:06 pm

    Property Features for 71057 CR 388

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Bathrooms
    1
    Rooms
    Bathroom 1
    Interior features
    Broadband
    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

    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

    We can help!

    Listing Contact
    Amy O'Sullivan
    Amy O'Sullivan

    Listing agent Amy O'Sullivan License #6506040161

    Listing office Jaqua REALTORS 513 Broadway Street, Portage, MI

    Listing date Sep 12, 2025

    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.

    HighLights

    • Upscale storage unit designed for luxury and functionality, suitable for multiple cars, boats, or a motorhome.
    • Custom kitchen with QUARTZ COUNTERS and a full bathroom with TILE SHOWER.
    • LOFTED LOUNGE AREA, perfect for relaxation.
    • High‑quality construction: 2x6 frame, R‑22/R‑44 insulation, 5/8'' drywall, and 60,000 BTU natural gas furnace.
    • Large 14'x14' INSULATED AUTOMATIC OVERHEAD DOOR for easy access.
    • Convenient amenities: utility sink, hot/cold water, floor drain, and 40‑gallon water heater.

    Overview

    This upscale storage unit in South Haven offers ample storage space suitable for multiple cars, boats, or a motorhome. Unit 25 includes a custom kitchen with quartz counters, a full bathroom with a tile shower, and a large closet. A lofted lounge area provides a space for relaxation. The unit is constructed with 2x6 frame construction, R-22 insulated walls, R-44 insulated ceilings, and 5/8'' drywall. It also features a 60,000 BTU natural gas furnace. Access is facilitated by a 36'' entry door and a 14'x14' insulated automatic overhead door. Additional conveniences include a utility sink, hot and cold running water, a floor drain, and a 40-gallon water heater. The property size is 1750 square feet. The landscaped grounds are maintained with underground sprinkling. The property is located close to downtown South Haven.

    Local Financial Insights For Self Storage

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $26.3k $15.00
    − Vacancy −$1.8k −$1.05
    EGI $24.4k $13.95
    − OpEx −$7.3k −$4.19
    NOI $17.1k $9.76
    1,750 SF · lease $15.00/SF/yr · vacancy 7.00% · expense 30.00%

    Alternative Uses

    Best Use
    Self Storage
    $244.1K
    $213.6K – $284.8K (±1% cap)
    NOI $17,089 @ 7.0% cap · market cap 6.21%
    Second Best
    Industrial
    $129.1K
    $113.0K – $150.7K (±1% cap)
    NOI $9,039 @ 7.0% cap · market cap 3.29%
    Theoretical Best
    Multifamily LT 5
    $21.64M
    $18.93M – $25.24M (±1% cap)
    NOI $1,514,692 @ 7.0% cap · market cap 550.80%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Suggested Use

    Restaurant Real Estate Agency Building Supply Big Box & Wholesale Store Auto Repair Shop Nail Salon Pharmacy Auto Parts Store Hotel & Motel Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    South Haven
    County
    Van Buren
    State
    Michigan
    Longitude
    -86.235973
    Latitude
    42.402391

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    FAQs

    What type of property is this?
    Self storage facility - Luxury storage unit with custom kitchen and full bathroom.
    Where is this self storage facility 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: Upscale storage unit designed for luxury and functionality, suitable for multiple cars, boats, or a motorhome.; Custom kitchen with QUARTZ COUNTERS and a full bathroom with TILE SHOWER.; LOFTED LOUNGE AREA, perfect for relaxation.
    (269) 214-1257
    We can help!
    Listing Contact
    Amy O'Sullivan
    Amy O'Sullivan
    Real Estate License ID: 6506040161
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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