Updated Storefront
For Sale
$119,900
102 N Lincoln Avenue, Three Rivers, MI 49093
Compact commercial space includes refreshed finishes and on-site parking.
Property Size600 SF
Price / SF$199.83
Days on Market239
Property Features for 102 N Lincoln Avenue
General Information
Standard status
Active
Size
600 SF
Property subtype
Industrial
Site & Location
Road Access
Yes
Utilities to Site
Yes
Amenities
3
Composition
65135
Building Details
Year Built
1955
Listing Agency:
Berkshire Hathaway HomeServices Michigan Real Estate
(269) 273-8185
Listed By:
Josh Nagy · License #6506046197
(269) 806-4525
Source:
Xome
Added: Jan 14
Changed: Sep 9
Last Checked: Sep 9 at 3:27PM
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 Berkshire Hathaway HomeServices Michigan Real Estate
Investment Insights
Based on property information with market context.
This 600 SF storefront building in Three Rivers, Michigan, was built in 1955 and has received several functional and cosmetic updates. Improvements include new electrical and plumbing systems, fresh interior paint, and updated floor coverings. The compact layout provides a practical footprint for a storefront-oriented business, boutique, office, or specialty operation.
The property fronts West Michigan Avenue and includes on-site parking. Its location in Three Rivers provides a community-based setting for an owner-user or commercial occupant seeking a smaller retail or office presence.
The property fronts West Michigan Avenue and includes on-site parking. Its location in Three Rivers provides a community-based setting for an owner-user or commercial occupant seeking a smaller retail or office presence.
Key Highlights
- 600 SF storefront building in Three Rivers, Michigan
- New electrical and plumbing systems
- Fresh interior paint and updated floor coverings
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
$6,610
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
5.51%
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%
$132,200
$132.2K
Cap Rate 7%
$94,429
$94.4K
Cap Rate 9%
$73,444
$73.4K
Market Conditions
NOI Build-Up for 600 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
$10.2K $17.04/SF
− Vacancy
−$1.4K −$2.35/SF
EGI
$8.8K $14.69/SF
− OpEx
−$2.2K −$3.67/SF
NOI
$6.6K $11.02/SF
Area
St. Joseph 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 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%
$132,200
Cap Rate 7%
$94,429
Cap Rate 9%
$73,444
Alternative Uses
Best Use
Office B
$94.4K
$82.6K – $110.2K
NOI $6,610 @ 7.0% cap · market cap 5.51%
Second Best
Retail
$89.0K
$77.9K – $103.8K
NOI $6,229 @ 7.0% cap · market cap 5.20%
Theoretical Best
Multifamily LT 5
$7.48M
$6.54M – $8.72M
NOI $523,331 @ 7.0% cap · market cap 436.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
614
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49093, MI
18,215
Population
8,512
Households
2.1
Avg Household Size
41
Median Age
20%
College-Educated
92%
High-School Grad
105.6 sq mi
ZIP Area
172
Density / Sq Mi
$63,040
Median Household Income
$36,916
Median Earnings
$824
Median Rent
$174,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - Compact commercial space includes refreshed finishes and on-site parking.
Where is this storefront property located?
The property is located at 102 N Lincoln Avenue Three Rivers, MI.
What is the asking price?
The asking price for this property is $119,900.
What are key features of this property?
This property features: 600 SF storefront building in Three Rivers, Michigan; New electrical and plumbing systems; Fresh interior paint and updated floor coverings
