Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    56847 N Main St Three Rivers, MI 49093

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Pending
    $350,000

    3,502 SF building with high visibility and flexible layout.

    Lot size:
    1.60 Acres

    Property Features for 56847 N Main St

    General Information

    Property type
    Commercial
    Standard status
    Pending
    Lot size
    1.60 Acres

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Connor Schultze
    Source: Elliman

    Listing Agency: NAI Wisinski of West Michigan Listing Agent: Connor Schultze

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Medical Office Building on US-131

    The property is a well-maintained building offering approximately 3,502 square feet of space with prime visibility on US-131. Currently configured for medical office use, the interior features multiple private offices and a large, open reception area. The majority of the interior walls are non-load bearing, which allows for easy conversion to suit a variety of business needs. The property includes a spacious lot with ample parking. This property presents an opportunity for an owner-user or investor seeking a flexible location with high exposure.
    Location Intelligence

    Current Use by Public Records

    Philip Pelton Physician ASHLEY KAYE FRITZ Physician Clarkson Eyecare Eye Care Center Sussex Properties LLC Property Management Company

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

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

    Similar Places Nearby

    Hedges Veterinary Hospital

    Location Insight

    • Map
    • Local Demand
    City
    Three Rivers
    County
    St. Joseph
    State
    Michigan
    Longitude
    -85.63471
    Latitude
    41.970436

    Nearby Similar for Sale

    • $319,900
      5,430 SF

      Historic Three Rivers Office Building

      Unique commercial property with historical significance and office use.
      801 Portage Ave, Three Rivers, MI 49093
      View Details
    • New
      $299,000
      5,430 SF

      Historic Three Rivers Office Building

      Unique commercial property with historical significance in Three Rivers, MI.
      801 Portage Ave, Three Rivers, MI 49093
      View Details
    • $450,000
      Pending

      Established Car Wash Business Opportunity

      High-traffic car wash with expansion potential in Three Rivers, MI.
      1025 W Michigan Ave, Three Rivers, MI 49093
      View Details
    • $119,900
      600 SF

      Turnkey Commercial Building in Three Rivers

      Updated commercial building in the heart of Three Rivers, Michigan.
      102 N Lincoln Ave, Three Rivers, MI 49093
      View Details
    • $349,000
      5,130 SF

      Three Rivers Office with Lab

      Efficient office space with lab area and ample parking.
      1500 Kdf Dr, Three Rivers, MI 49093
      View Details
    • $79,900
      2,177 SF

      Commercial Property in Three Rivers

      Commercial property suitable for various businesses in a great location.
      140 W Michigan Ave, Three Rivers, MI 49093
      View Details
    • $3,600,000
      3,097 SF

      Automated Car Wash Investment Opportunity

      Thriving car wash business with real estate and equipment included.
      655 S Us Highway 131, Three Rivers, MI 49093
      View Details
    • $324,900
      4,439 SF

      Mixed-Use Building in Downtown

      Mixed-use building with restaurant space and apartments in downtown.
      13 N Main St, Three Rivers, MI 49093
      View Details
    • $125,000
      Pending

      Historic Downtown Mixed-Use Opportunity

      Blank slate for residential units and storefront in Three Rivers.
      42 N Main St, Three Rivers, MI 49093
      View Details
    • $350,300
      0.29 Acres

      Riverfront Quadplex in Three Rivers

      Well-maintained quadplex with river frontage and 100% occupancy.
      416 River St, Three Rivers, MI 49093
      View Details
    • $350,300
      0.48 Acres

      Riverfront Quadplex in Three Rivers

      Well-maintained quadplex with river frontage and 100% occupancy.
      500 River St, Three Rivers, MI 49093
      View Details
    • $2,200,000
      47,264 SF

      Retail Building on US-131

      47,264 SF retail building on 7.3 acres for sale.
      301 Us 131, Three Rivers, MI 49093
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 3,502 SF building with high visibility and flexible layout.
    Where is this medical office space located?
    The property is located at 56847 N Main St Three Rivers, MI.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: - Prime visibility on US-131.; - +/- 3,502 SF well-maintained building.; - Flexible layout with non-load bearing interior walls allowing for easy conversion.
    (269) 370-6437
    Request Owner's contact information
    56847 N Main St Three Rivers, MI 49093
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    56847 N Main St
    Three Rivers, MI 49093
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    56847 N Main St Three Rivers, MI 49093
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Connor Schultze
    (269) 370-6437 (269) 353-0311 (616) 776-0100
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!