Retail Space with
New
For Sale
$188,500
13676 Prairie Road, Harbert, MI 49115
Commercial Sale, Harbert, MI
Property Size725 SF
Lot Size0.17 Acres
Price / SF$260
Days on Market2
Property Features for 13676 Prairie Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
H-Mixed Use
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
2
Elementary school district
River Valley
Middle school district
River Valley
High school district
River Valley
Directions
Corner of Red Arrow Hwy. and Prairie Rd.
Standard status
Active
APN
To be determined
Size
725 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Legal to follow per survey and title commitment.
Legal Description
Legal to follow per survey and title commitment.
Utilities
Utilities
Natural Gas Available
Heating system
Radiant
Water front features
Lake
Water front
1
Amenities
new doors and windows
blinds
stylish flooring
low-voltage lighting
fresh paint
renovated bathroom with all new Kohler fixtures
new dual-zoned heating and air conditioning
new metal roofing and gutter
attractive walkway
new lighted, covered entry
beautiful landscaping by designer Claudia Parish
charming courtyard
Building Details
Year built
1940
Floors in Building
1
Number of units
1
Building materials
Wood Siding
Roof type
Metal, Composition
Listing Agency:
Cressy & Everett R.E. of Harbor Country
(269) 469-1256
Listed By:
Maggie Olson · License #6501284410
(269) 612-1350
Added: Aug 29
Last Checked: Aug 30 at 10:06AM
MLS# 26045944
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.
Built in 1940, this 725-square-foot retail property contains a two-room studio layout and one bathroom. Renovation work completed in 2025/2026 included new doors, windows, blinds, flooring, low-voltage lighting, interior paint, and Kohler bathroom fixtures. The building also has dual-zoned heating and air conditioning, natural gas availability, and new metal roofing and gutters. Wood siding and radiant heating are listed among the property features.
The property occupies a 0.17-acre site at 13676 Prairie Road in Harbert, Michigan, with frontage on two roads. On-site parking connects to a lighted, covered entrance, while a landscaped courtyard sits beyond the sliding doors and may accommodate future parking. The location is near Red Arrow Trail, local amenities, and the Lake Michigan shoreline.
The property occupies a 0.17-acre site at 13676 Prairie Road in Harbert, Michigan, with frontage on two roads. On-site parking connects to a lighted, covered entrance, while a landscaped courtyard sits beyond the sliding doors and may accommodate future parking. The location is near Red Arrow Trail, local amenities, and the Lake Michigan shoreline.
Key Highlights
- 725‑square‑foot two‑room studio with one bathroom
- Renovated in 2025/2026 with new doors, windows, flooring, lighting, paint, and bathroom fixtures
- Dual‑zoned heating and air conditioning
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
$7,526
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
3.99%
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%
$150,520
$150.5K
Cap Rate 7%
$107,514
$107.5K
Cap Rate 9%
$83,622
$83.6K
Market Conditions
NOI Build-Up for 725 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
$11.2K $15.48/SF
− Vacancy
−$471 −$0.65/SF
EGI
$10.8K $14.83/SF
− OpEx
−$3.2K −$4.45/SF
NOI
$7.5K $10.38/SF
Area
Berrien County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$150,520
Cap Rate 7%
$107,514
Cap Rate 9%
$83,622
Alternative Uses
Best Use
Retail
$107.5K
$94.1K – $125.4K
NOI $7,526 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$152.6K
$133.5K – $178.0K
NOI $10,679 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Explore this area
Business Placement
Demographics for 49115, MI
217
Population
439
Households
0.5
Avg Household Size
64
Median Age
91%
College-Educated
100%
High-School Grad
0.9 sq mi
ZIP Area
241
Density / Sq Mi
$60,370
Median Household Income
$272,400
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 - Renovated two-room commercial studio with updated systems and a covered entry.
Where is this retail space located?
The property is located at 13676 Prairie Road Harbert, MI.
What is the asking price?
The asking price for this property is $188,500.
What are key features of this property?
This property features: 725‑square‑foot two‑room studio with one bathroom; Renovated in 2025/2026 with new doors, windows, flooring, lighting, paint, and bathroom fixtures; Dual‑zoned heating and air conditioning
