Office Building with Three
New
For Sale
$275,000
111 Days Avenue, Buchanan, MI 49107
COMMERCIAL - Buchanan, MI
Property Size1,419 SF
Lot Size0.10 Acres
Price / SF$193.80
Days on Market4
Property Features for 111 Days Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2
Interior features
Broadband
High school
Buchanan High School
Elementary school district
Buchanan
Middle school district
Buchanan
High school district
Buchanan
Standard status
Active
APN
11-58-0035-0207-04-0
Size
1,419 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Long see agent remarks
Legal Description
Long see agent remarks
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
reception area
conference room
kitchenette
bathrooms
private offices
storage
deck
Building Details
Year built
1940
Number of units
1
Building materials
Brick, Metal Siding
Listing Agency:
The Home Source Group
(269) 767-8747
Listed By:
Carolee M Dalrymple · License #6506045404
(616) 634-2358
Added: Aug 14
Last Checked: Aug 17 at 3:06PM
MLS# 26042744
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.
This 1,419-square-foot office property on a 0.1-acre parcel was built in 1940 and provides a practical mix of shared and private work areas. The interior includes a reception area, conference room, kitchenette, two bathrooms, three private offices, built-in storage shelving, an unfinished storage room, and a full unfinished basement. Broadband, forced-air heat, and central air are also included. The brick and metal-sided building has no-step entrances, a newer roof, and a new sump serving the basement.
Three front entrances create flexibility for separating the interior into as many as three private areas. Parking is available at the property and in the adjacent public lot. A rear entrance with a small deck supports loading and unloading, adding functional access for office occupants and service needs.
Three front entrances create flexibility for separating the interior into as many as three private areas. Parking is available at the property and in the adjacent public lot. A rear entrance with a small deck supports loading and unloading, adding functional access for office occupants and service needs.
Key Highlights
- 1,419 SF office building on a 0.1‑acre parcel
- Three front entrances allow separation into as many as three private areas
- Reception area, conference room, kitchenette, three private offices, and two bathrooms
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
$15,632
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
5.68%
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%
$312,640
$312.6K
Cap Rate 7%
$223,314
$223.3K
Cap Rate 9%
$173,689
$173.7K
Market Conditions
NOI Build-Up for 1,419 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
$24.2K $17.04/SF
− Vacancy
−$3.3K −$2.35/SF
EGI
$20.8K $14.69/SF
− OpEx
−$5.2K −$3.67/SF
NOI
$15.6K $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 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%
$312,640
Cap Rate 7%
$223,314
Cap Rate 9%
$173,689
Alternative Uses
Best Use
Office B
$223.3K
$195.4K – $260.5K
NOI $15,632 @ 7.0% cap · market cap 5.68%
Second Best
Retail
$210.4K
$184.1K – $245.5K
NOI $14,730 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$298.6K
$261.3K – $348.4K
NOI $20,902 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
Explore this area
Business Placement
Demographics for 49107, MI
10,066
Population
5,096
Households
2
Avg Household Size
43
Median Age
21%
College-Educated
92%
High-School Grad
66.3 sq mi
ZIP Area
152
Density / Sq Mi
$65,118
Median Household Income
$35,223
Median Earnings
$987
Median Rent
$174,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Brick commercial space with reception, private offices, kitchenette, storage, and basement areas.
Where is this office units located?
The property is located at 111 Days Avenue Buchanan, MI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,419 SF office building on a 0.1‑acre parcel; Three front entrances allow separation into as many as three private areas; Reception area, conference room, kitchenette, three private offices, and two bathrooms
