Corner Storefront
For Sale
Under Contract
$249,000
9723 Red Arrow Highway, Bridgman, MI 49106
COMMERCIAL - Bridgman, MI
Property Size1,593 SF
Price / SF$156.31
Days on Market336
Property Features for 9723 Red Arrow Highway
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
Bridgman
Middle school district
Bridgman
High school district
Bridgman
Directions
Red Arrow Highway to Bridgman. This commercial space is located on the corner of Red Arrow Highway and Lake Street.
Subdivision
Southwestern Michigan - S
Standard status
Active Under Contract
Size
1,593 SF
Taxes and HOA fees
Tax Year
2024
Utilities
Utilities
Phone Available
Heating system
Forced Air
Cooling system
Central Air
Water front features
Lake
Water front
1
Building Details
Year built
2019
Number of units
1
Building materials
Block
Roof type
Rubber
Listing Agency:
Wright Properties
(269) 369-4640
Listed By:
Kerry M Wright · License #6506043362
(269) 369-4640
Added: Sep 10, 2025
Changed: Aug 4
Last Checked: Aug 11 at 11:06PM
MLS# 25046358
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.
The 1,593-square-foot storefront at 9723 Red Arrow Highway is a 2019 commercial building constructed with block materials and finished with a rubber roof. Interior features include a bathroom, while central air conditioning, forced-air heating, broadband, and phone availability support day-to-day operations.
The property occupies the corner of Red Arrow Highway and Lake St in Bridgman, Michigan. Its setting places the storefront within walking distance of Lake Michigan, Weko Beach, shops, eateries, microbreweries, and wineries. The neighboring unit may be combined with this space to add 1,800 square feet.
The property occupies the corner of Red Arrow Highway and Lake St in Bridgman, Michigan. Its setting places the storefront within walking distance of Lake Michigan, Weko Beach, shops, eateries, microbreweries, and wineries. The neighboring unit may be combined with this space to add 1,800 square feet.
Key Highlights
- 1,593 SF storefront at 9723 Red Arrow Highway
- Corner position at Red Arrow Highway and Lake St
- 2019 construction with block materials and rubber roof
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
$16,537
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
6.64%
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%
$330,740
$330.7K
Cap Rate 7%
$236,243
$236.2K
Cap Rate 9%
$183,744
$183.7K
Market Conditions
NOI Build-Up for 1,593 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
$24.7K $15.48/SF
− Vacancy
−$1.0K −$0.65/SF
EGI
$23.6K $14.83/SF
− OpEx
−$7.1K −$4.45/SF
NOI
$16.5K $10.38/SF
Area
Berrien County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$330,740
Cap Rate 7%
$236,243
Cap Rate 9%
$183,744
Alternative Uses
Best Use
Retail
$236.2K
$206.7K – $275.6K
NOI $16,537 @ 7.0% cap · market cap 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$335.2K
$293.3K – $391.1K
NOI $23,465 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
230
Businesses Nearby
16k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Speedway
Shops & Services
5,565 visits/mo
0.4 miles
Dollar General
Shops & Services
4,317 visits/mo
0.3 miles
United Federal Credit Union
Shops & Services
2,261 visits/mo
0.5 miles
Citgo
Shops & Services
2,187 visits/mo
0.4 miles
Super Wash
Shops & Services
1,340 visits/mo
0.3 miles
Demographics for 49106, MI
4,822
Population
2,472
Households
2
Avg Household Size
48
Median Age
30%
College-Educated
96%
High-School Grad
14.7 sq mi
ZIP Area
328
Density / Sq Mi
$75,064
Median Household Income
$40,108
Median Earnings
$1,139
Median Rent
$243,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Small Town Wedding And Floral — 4158 lake st, bridgman, mi 49106
Frequently Asked Questions
What type of property is this?
Storefront property - Retail space positioned at a prominent corner with central air, forced-air heat, and broadband access.
Where is this storefront property located?
The property is located at 9723 Red Arrow Highway Bridgman, MI.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 1,593 SF storefront at 9723 Red Arrow Highway; Corner position at Red Arrow Highway and Lake St; 2019 construction with block materials and rubber roof
