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

    111 Us Highway 131 Three Rivers, MI 49093

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $6 SF/Yr

    Two industrial buildings available for lease in Three Rivers, MI.

    Lot size:
    11.23 Acres

    Property Features for 111 Us Highway 131

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    11.23 Acres

    Building Details

    Year built
    1950

    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

    Industrial Buildings with US-131 Frontage

    Two adjacent industrial buildings are available for lease, either separately or together, offering up to 148,847 square feet. Located in Three Rivers, MI, along US-131, the properties are under new ownership and undergoing significant improvements. 111 Day Road is a 71,121 square foot manufacturing facility featuring heavy power, cranes, static-resistant flooring, and an explosion-proof area. The facility is fully conditioned, making it suitable for a manufacturing company. 205 S. US 131 is a recently renovated 77,726 square foot light manufacturing facility with 16' ceilings, two docks, two overhead doors, heavy power, and cranes. This building offers prominent frontage on US-131. Office space in either building can be leased separately. The location provides convenient access to M-60 and is less than 30 minutes from I-80/90. Lease terms are available for up to 120 months.
    Location Intelligence

    Current Use by Public Records

    Rx Optical, a MyEyeDr. ... Eye Care Center

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Three Rivers
    County
    St. Joseph
    State
    Michigan
    Longitude
    -85.63399
    Latitude
    41.943414

    Nearby Similar for Lease

    • $12 SF/Yr
      6,887 SF

      Three Rivers Restaurant Opportunity

      Restaurant space for lease with frontage on two lakes.
      59640 County Line Rd, Three Rivers, MI 49093
      View Details
    • $12 SF/Yr
      9,500 SF

      Renovated Retail and Office Space

      Newly renovated retail and office spaces with high visibility.
      1100 N Main St, Three Rivers, MI 49093
      View Details
    • $12 SF/Yr
      4,000 SF

      Renovated Retail and Office Space

      Newly renovated retail and office spaces with high visibility.
      1100 N Main St, Three Rivers, MI 49093
      View Details
    • $8 SF/Yr
      14,996 SF

      Retail Space in Three Rivers

      Move-in ready retail space in a busy shopping center.
      203 N Us-131 Hwy Unit, Three Rivers, MI 49093
      View Details
    • $12 SF/Yr
      13,500 SF

      Renovated Retail and Office Space

      Newly renovated retail and office spaces available in Three Rivers.
      1100 N Main St, Three Rivers, MI 49093
      View Details
    • $12 SF/Yr
      3,975 SF

      Three Rivers Warehouse/Industrial Space

      3,975 SF warehouse/industrial space with easy highway access.
      57582 N Main St, Three Rivers, MI 49093
      View Details
    • $10 SF/Yr
      8,160 SF

      Three Rivers Industrial Space Available

      8,000+ SF industrial space in Three Rivers, move-in ready.
      200 E Broadway St, Three Rivers, MI 49093
      View Details
    • $10 SF/Yr
      2,450 SF

      Retail Space in Three Rivers

      Retail space available in River Crossings Shopping Center.
      203 N Us-131 Hwy Unit, Three Rivers, MI 49093
      View Details
    • $16 SF/Yr
      1,200 SF

      Renovated Office Suite, Three Rivers

      Move-in ready office suite near downtown Three Rivers, Michigan.
      112 W Prutzman St Unit, Three Rivers, MI 49093
      View Details
    • $14 SF/Yr
      1,654 SF

      Renovated Office Suite, Three Rivers

      Move-in ready office suite near downtown Three Rivers.
      112 W Prutzman St Unit, Three Rivers, MI 49093
      View Details
    • $6 SF/Yr
      5,130 SF

      Office Space in Three Rivers

      Functional office and lab space in Three Rivers, Michigan.
      1500 Kdf Dr, Three Rivers, MI 49093
      View Details
    • $5 SF/Yr
      10,192 SF

      Industrial Building Near M-60, US-131

      10,192 SF industrial building suitable for manufacturing, tooling, or storage.
      315 7Th Ave, Three Rivers, MI 49093
      View Details

    FAQs

    What type of property is this?
    Manufacturing property - Two industrial buildings available for lease in Three Rivers, MI.
    Where is this manufacturing property located?
    The property is located at 111 Us Highway 131 Three Rivers, MI.
    What is the lease rate?
    The lease rate is $6 SF/Yr.
    What are key features of this property?
    This property features: - Up to 148,847 SF of industrial space available in two adjacent buildings, leased separately or together.; - 111 Day Road (71,121 SF) is a fully conditioned manufacturing facility with heavy power, cranes, static-resistant flooring, and an explosion-proof area.; - 205 S. US 131 (77,726 SF) is a recently renovated light manufacturing facility featuring 16' ceilings, two docks, two OH doors, heavy power, and cranes.
    (269) 370-6437
    Request Owner's contact information
    111 Us Highway 131 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.
    111 Us Highway 131
    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
    111 Us Highway 131 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!