Building Details

Year Built 1940

Year Renovated 2025

Buildings 1

Units 1

Listing Agency: Cressy & Everett R.E. of Harbor Country

Listed By: Maggie Olson · License #6501284410 Show Phone

Source: Crexi

Added: Aug 29 Changed: Oct 6 Last Checked: Oct 16 at 9:28AM

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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 Cressy & Everett R.E. of Harbor Country

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Investment Insights

Based on property information with market context.

Built in 1940, this office property contains a 725-square-foot, two-room studio that underwent renovation in 2025/2026. Improvements include new doors and windows, blinds, flooring, low-voltage lighting, fresh paint, and Kohler bathroom fixtures. Dual-zone heating and air conditioning, metal roofing, and gutters were also added or replaced during the work.

The building occupies a corner site with frontage along two roads. Parking connects to a covered, lighted entrance by a landscaped walkway, while a courtyard extends beyond the sliding doors. The property is in Harbert near the Red Arrow Trail, with walking and biking access to local amenities and the Lake Michigan shoreline.

Key Highlights

• 725‑square‑foot two‑room studio office
• Renovated in 2025/2026 with new doors, windows, flooring, lighting, and fresh paint
• Dual‑zoned heating and air conditioning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$7,987

Cap Rate

4.24%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$159,740 $159.7K

Cap Rate 7%

$114,100 $114.1K

Cap Rate 9%

$88,744 $88.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 725 SF

Gross rent

$12.4K $17.04/SF

− Vacancy

−$1.7K −$2.35/SF

EGI

$10.6K $14.69/SF

− OpEx

−$2.7K −$3.67/SF

NOI

$8.0K $11.02/SF

Area

Berrien County, MI

Vacancy

13.80%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$159,740

Cap Rate 7%

$114,100

Cap Rate 9%

$88,744

Alternative Uses

Best Use

Office B

$114.1K

$99.8K – $133.1K (±1% cap)

NOI $7,987 @ 7.0% cap · market cap 4.24%

Second Best

Retail

$107.5K

$94.1K – $125.4K (±1% cap)

NOI $7,526 @ 7.0% cap · market cap 3.99%

Theoretical Best

Office A

$152.6K

$133.5K – $178.0K (±1% cap)

NOI $10,679 @ 7.0% cap · market cap 5.67%

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

Property Analytics

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Current Use

Office Units

Suggested Use

Top Pick Auto Repair Shop Auto Parts Store Furniture & Home Goods Nail Salon Skin Care Clinic Restaurant

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

Yes

Paved road access

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 Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Frequently Asked Questions

What type of property is this?

Office units - Updated HVAC, lighting, windows, flooring, and bathroom fixtures support a modern studio workspace.

Where is this office units 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 office; Renovated in 2025/2026 with new doors, windows, flooring, lighting, and fresh paint; Dual‑zoned heating and air conditioning