Mixed-Use Property with
For Sale
$544,400
1 S Griffith Street, New Buffalo, MI 49117
The residential component includes three bedrooms, a kitchen, living and dining areas, and three total baths.
Property Size2,708 SF
Price / SF$201.03
Days on Market10
Property Features for 1 S Griffith Street
General Information
Standard status
Active
Size
2,708 SF
Zoning
GCD
Site & Location
Highway Access
Yes
Road Access
Yes
Mixed-Use Components
retail, residential
Taxes and HOA fees
Annual Taxes
$3,360
Amenities
true
1
2708
Broadband
Non-Applicable
0.21
10
66x132
false
Building Details
Building Size
2,708 SF
Year Built
1966
Stories
2708
Listing Agency:
(616) 402-4115
Listed By:
Dan Hendrick
(616) 842-5970
Source:
Danhendrick.clydehendrickrealtors
Added: Oct 20
Changed: Oct 28
Last Checked: Oct 28 at 2:35PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Dan Hendrick
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Investment Insights
Based on property information with market context.
This 2,708-square-foot mixed-use property includes a residential component with three bedrooms, a kitchen, living and dining areas, and three total baths. The 0.21-acre property was built in 1966 and is zoned GCD. The spaces may be used for a business alongside the residence or leased together, including the residential space.
Located in New Buffalo, the property has access to Red Arrow Highway and US 12, with I-94 nearby. Lake Michigan, marinas, dining, and wine trails are minutes away. The listing also notes regional connections to Chicago and South Bend, as well as Amtrak service from New Buffalo to Chicago.
Located in New Buffalo, the property has access to Red Arrow Highway and US 12, with I-94 nearby. Lake Michigan, marinas, dining, and wine trails are minutes away. The listing also notes regional connections to Chicago and South Bend, as well as Amtrak service from New Buffalo to Chicago.
Key Highlights
- 2,708‑square‑foot mixed‑use property on 0.21 acres
- Residential component has 3 bedrooms, kitchen, living and dining areas, and 3 total baths
- GCD zoning; built in 1966
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,832
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$596,640
$596.6K
Cap Rate 7%
$426,171
$426.2K
Cap Rate 9%
$331,467
$331.5K
Market Conditions
NOI Build-Up for 2,708 SF
Gross rent
$46.1K $17.04/SF
− Vacancy
−$6.4K −$2.35/SF
EGI
$39.8K $14.69/SF
− OpEx
−$9.9K −$3.67/SF
NOI
$29.8K $11.02/SF
Area
Berrien County, MI
Vacancy
13.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$596,640
Cap Rate 7%
$426,171
Cap Rate 9%
$331,467
Alternative Uses
Best Use
Office B
$426.2K
$372.9K – $497.2K
NOI $29,832 @ 7.0% cap · market cap 5.48%
Second Best
Retail
$401.6K
$351.4K – $468.5K
NOI $28,111 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$569.8K
$498.6K – $664.8K
NOI $39,888 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Explore this area
Business Placement
Demographics for 49117, MI
3,710
Population
3,790
Households
1
Avg Household Size
54
Median Age
46%
College-Educated
96%
High-School Grad
19.0 sq mi
ZIP Area
195
Density / Sq Mi
$75,268
Median Household Income
$48,056
Median Earnings
$749
Median Rent
$448,400
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The residential component includes three bedrooms, a kitchen, living and dining areas, and three total baths.
Where is this mixed-use property located?
The property is located at 1 S Griffith Street New Buffalo, MI.
What is the asking price?
The asking price for this property is $544,400.
What are key features of this property?
This property features: 2,708‑square‑foot mixed‑use property on 0.21 acres; Residential component has 3 bedrooms, kitchen, living and dining areas, and 3 total baths; GCD zoning; built in 1966
