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    93 W Wall St Benton Harbor, MI 49022

    View on Map
    Sponsored
    For Sale
    $676,000

    COMMERCIAL - Benton Harbor, MI

    Type:Retail
    Property size:
    45,750 SF
    Lot size:
    0.29 Acres
    Days on Market:
    9
    Last Refresh:
    Mar 7 at 4:06 am

    Property Features for 93 W Wall St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    Rooms
    Bathroom 4, Bathroom 3, Basement, Bathroom 7, Bathroom 8, Bathroom 2, Bathroom 5, Bathroom 10, Bathroom 9, Bathroom 1, Bathroom 6
    Bathrooms
    10
    APN
    115103400212004
    Interior features
    Broadband
    Size
    45,750 SF
    Lot size
    0.29 Acres

    Utilities

    Utilities
    Cable Available

    Building Details

    Year built
    1921
    Floors in Building
    4
    Number of units
    87
    Building materials
    Block, Brick, Stone
    Roof type
    Stone, Rubber

    We can help!

    Listing Contact
    Christopher S Siriano

    Siriano Realty (269) 325-0039

    Listing agent Christopher S Siriano (269) 325-0039

    Listing date Feb 27, 2026

    MLS# 25015469

    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.

    Learn more

    Property Insight Report

    Overview

    Historic Benton Harbor Mixed-Use Opportunity

    This is the original House of David Hotel, a heavily built concrete structure featuring massive floors and walls, ready for restoration. The building has over 45,000 square feet of space. A new roof was installed 14+ years ago. The buyer has the first option to purchase the large parking lot on the north side of the building that extends to Main Street. The property is situated on a 0.29-acre lot. Potential uses include art galleries on the main floor and condos on the upper three floors, or retail space on the lower level with apartments above. A local contractor with expertise in stone facade restoration is available to work with the new owner on an exterior renovation. The property is located in Benton Harbor, MI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Benton Harbor
    County
    Berrien
    State
    Michigan
    Longitude
    -86.456243
    Latitude
    42.115079

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    FAQs

    What type of property is this?
    Mixed-use property - Unique mixed-use property with restoration potential in Benton Harbor.
    Where is this mixed-use property located?
    The property is located at 93 W Wall St Benton Harbor, MI.
    What is the asking price?
    The asking price for this property is $676,000.
    What are key features of this property?
    This property features: - Historically significant property: The original House of David Hotel.; - Substantial square footage: Over 45,000 sq. ft. offering diverse development potential.; - Solid construction: Heavily built concrete structure with massive floors and walls.
    (269) 325-0039
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    93 W Wall St Benton Harbor, MI 49022
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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
    93 W Wall St Benton Harbor, MI 49022
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    We can help!
    Listing Contact
    Christopher S Siriano
    Real Estate License ID: 6504274768
    (269) 325-0039
    Learn more
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