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    9845 Red Arrow Hwy Bridgman, MI 49106

    Sponsored
    For Sale
    $289,500

    Two-unit building, high visibility, park-like setting.

    Property size:
    2,554 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    346
    This well-maintained, two-unit commercial building in Bridgman, Michigan, offers 2,554 square feet of space on a 0.3-acre lot. Strategically located just north of I-94, this property boasts high traffic counts and excellent visibility, with convenient sidewalk access to Lake Street. Each unit comprises approximately 1272 square feet, including an enclosed entryway. The property features a picturesque, park-like setting, enhanced by mature trees and backing onto a tranquil creek. This versatile property is ideal for an owner-occupier seeking to utilize the entire building or for an investor looking to continue leasing one or both units. Currently, one unit is occupied by an insurance business (not included in the sale). The building's prime location and attractive setting make it a highly desirable investment opportunity. The seller is open to considering a purchase money mortgage for a qualified buyer, subject to approval. This presents a unique chance to acquire a well-established commercial property in a thriving location. The property's size, location, and attractive landscaping combine to create a compelling opportunity for a variety of commercial uses.

    Property Features for 9845 Red Arrow Hwy

    General Information

    Property type
    Industrial properties
    Square Feet
    2,554 SF
    Lot Size
    13,068 SF

    Building Details

    Year Built
    1999
    Property Profile Location Intelligence

    Current Use by Public Records

    The Swab-Stanage Agency – Farm ... Insurance Broker

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Bridgman
    County
    Berrien
    State
    Michigan
    Longitude
    -86.5648
    Latitude
    41.94008

    Nearby Comparable

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    Nearby Similar for Sale

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      Commercial Property in High-Traffic Area

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    FAQs

    What type of property is this?
    Industrial property - Two-unit building, high visibility, park-like setting.
    Where is this industrial property located?
    The property is located at 9845 Red Arrow Hwy Bridgman, MI.
    What is the asking price?
    The asking price for this property is $289,500.
    (269) 921-1125
    Request Owner's contact information
    9845 Red Arrow Hwy Bridgman, MI 49106
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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.

    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
    9845 Red Arrow Hwy Bridgman, MI 49106
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