Building Details

Building Size 24,000 SF

Year Built 2012

Buildings 8

Stories 2

Listing Agency: BHHS - Michigan Real Estate | Grand Rapids - Cascade

Listed By: Josh Nagy · License #6506046197 Show Phone

Source: Cpix.resimplifi

Added: May 5, 2025 Changed: Oct 4 Last Checked: Oct 20 at 5:24PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS - Michigan Real Estate | Grand Rapids - Cascade

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Investment Insights

Based on property information with market context.

This fully operational golf course offering includes a spacious, fully equipped clubhouse featuring a pro shop, locker rooms, offices, and event space. The clubhouse also houses a full-service restaurant and bar with indoor and patio seating overlooking the course. Three furnished golf villas are included as turnkey accommodations, each ready for immediate use.

Additional on-site amenities include ample parking, maintenance buildings, and golf cart storage, along with a driving range or practice green (if applicable).

Located in southwest Michigan with convenient access to Chicago, Kalamazoo, and South Bend, the property is set in a peaceful rural setting that supports privacy while remaining accessible. New ownership can continue the established, loyal customer base and carry the course forward with its existing facilities.

Key Highlights

• 2012‑built golf course operation with a clubhouse that includes a pro shop, locker rooms, offices, and event space
• Full‑service restaurant and bar in the clubhouse with indoor and patio seating overlooking the course
• On‑site furnished golf villas: 3 turnkey villas for overnight guests, tournament players, or short‑term rentals

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$267,494

Cap Rate

8.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,349,880 $5.3M

Cap Rate 7%

$3,821,343 $3.8M

Cap Rate 9%

$2,972,156 $3.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 24,000 SF

Gross rent

$371.5K $15.48/SF

− Vacancy

−$14.9K −$0.62/SF

EGI

$356.7K $14.86/SF

− OpEx

−$89.2K −$3.72/SF

NOI

$267.5K $11.15/SF

Area

St. Joseph County, MI

Vacancy

4.00%

Lease Rate

$15.48 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,349,880

Cap Rate 7%

$3,821,343

Cap Rate 9%

$2,972,156

Alternative Uses

Best Use

Specialty Retail

$3.82M

$3.34M – $4.46M (±1% cap)

NOI $267,494 @ 7.0% cap · market cap 8.23%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$299.05M

$261.67M – $348.89M (±1% cap)

NOI $20,933,248 @ 7.0% cap · market cap 644.10%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Island Hills Golf ... Golf Course

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Gym & Fitness Center Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

15

Businesses Nearby

Explore this area Business Placement

Demographics for 49032, MI

3,033

Population

1,155

Households

2.6

Avg Household Size

40

Median Age

11%

College-Educated

80%

High-School Grad

35.6 sq mi

ZIP Area

85

Density / Sq Mi

$65,781

Median Household Income

$33,974

Median Earnings

$791

Median Rent

$160,100

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Golf course & driving range - Full-service clubhouse with pro shop, locker rooms, and restaurant and bar, plus three turnkey furnished golf villas on-site.

Where is this golf course & driving range located?

The property is located at 61809 Stonegate Centreville, MI.

What is the asking price?

The asking price for this property is $3,250,000.

What are key features of this property?

This property features: 2012‑built golf course operation with a clubhouse that includes a pro shop, locker rooms, offices, and event space; Full‑service restaurant and bar in the clubhouse with indoor and patio seating overlooking the course; On‑site furnished golf villas: 3 turnkey villas for overnight guests, tournament players, or short‑term rentals