Four-Unit Retail Building with Central
For Sale
$479,900
125 N Davis Street, Vicksburg, MI 49097
COMMERCIAL - Vicksburg, MI
Property Size5,050 SF
Lot Size0.98 Acres
Price / SF$95.03
Days on Market14
Property Features for 125 N Davis Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C-2 Comm Corrid
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
30
Interior features
Broadband
Elementary school district
Vicksburg
Middle school district
Vicksburg
High school district
Vicksburg
Standard status
Active
APN
15-18-302-013
Size
5,050 SF
Lot size
0.98 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Long Metes and Bounds description, survey attached to listing.
Tax Annual Amount
8400
Legal Description
Long Metes and Bounds description, survey attached to listing.
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2004
Number of units
4
Roof type
Composition
Listing Agency:
Berkshire Hathaway HomeServices MI
(269) 344-8599
Listed By:
Ryan Rider · License #6501273398
(269) 344-8599
Added: Jul 24
Changed: Aug 4
Last Checked: Aug 6 at 3:06PM
MLS# 26038839
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 four-unit retail building is fully occupied and includes one tenant with 20+ years of occupancy. The property sits on a 0.98-acre site with visibility and frontage on four roads, offering room for expansion, including potential to add to the existing footprint or build something else. The building could also be split into a separate parcel.
The commercial corridor zoning supports retail-focused use. The building is described as well maintained and includes separate utilities and plenty of parking. Interior features include broadband, and the mechanicals include forced air heating with central air cooling. The roof is composition, and the building was constructed in 2004.
Additional property details include two bathrooms and cable available. The asset includes a composition roof and supports a straightforward retail tenant setup given its fully occupied configuration and long-standing tenancy.
The commercial corridor zoning supports retail-focused use. The building is described as well maintained and includes separate utilities and plenty of parking. Interior features include broadband, and the mechanicals include forced air heating with central air cooling. The roof is composition, and the building was constructed in 2004.
Additional property details include two bathrooms and cable available. The asset includes a composition roof and supports a straightforward retail tenant setup given its fully occupied configuration and long-standing tenancy.
Key Highlights
- Fully occupied four‑unit retail building with one tenant at 20+ years
- 0.98‑acre site with frontage on four roads for visibility and access
- Commercial corridor zoning with potential to add to the footprint or build something else
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
$34,827
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
7.26%
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%
$696,540
$696.5K
Cap Rate 7%
$497,529
$497.5K
Cap Rate 9%
$386,967
$387.0K
Market Conditions
NOI Build-Up for 5,050 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
$60.6K $12.00/SF
− Vacancy
−$10.8K −$2.15/SF
EGI
$49.8K $9.85/SF
− OpEx
−$14.9K −$2.96/SF
NOI
$34.8K $6.90/SF
Area
Kalamazoo County, MI
Vacancy
17.90%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$696,540
Cap Rate 7%
$497,529
Cap Rate 9%
$386,967
Alternative Uses
Best Use
Retail
$497.5K
$435.3K – $580.5K
NOI $34,827 @ 7.0% cap · market cap 7.26%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.32M
$1.16M – $1.54M
NOI $92,504 @ 7.0% cap · market cap 19.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
32k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 45%
Shops & Services 43%
Dining 11%
Family Fare
Groceries
14,417 visits/mo
0.2 miles
Dollar General
Shops & Services
7,653 visits/mo
0.2 miles
Speedway
Shops & Services
6,256 visits/mo
0.3 miles
Hungry Howie's Pizza
Dining
2,435 visits/mo
0.2 miles
SUBWAY
Dining
1,218 visits/mo
0.2 miles
Demographics for 49097, MI
11,353
Population
4,861
Households
2.3
Avg Household Size
41
Median Age
26%
College-Educated
94%
High-School Grad
70.0 sq mi
ZIP Area
162
Density / Sq Mi
$82,051
Median Household Income
$52,585
Median Earnings
$933
Median Rent
$224,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Fully occupied four-unit retail building on 0.98 acres with central air, forced-air heat, and composition roof.
Where is this retail space located?
The property is located at 125 N Davis Street Vicksburg, MI.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Fully occupied four‑unit retail building with one tenant at 20+ years; 0.98‑acre site with frontage on four roads for visibility and access; Commercial corridor zoning with potential to add to the footprint or build something else
