Renovated Two-Room
New
For Sale
Contact for pricing
13676 Prairie Road, Harbert, MI 49115
Updated HVAC, lighting, windows, flooring, and bathroom fixtures support a modern studio workspace.
Property Size725 SF
Price / SF$260
Days on Market6
Property Features for 13676 Prairie Road
General Information
Standard status
Active
Size
725 SF
Total Parking Spaces
2
Property subtype
Retail, Office
Site & Location
Corner Location
Yes
Road Access
Yes
Amenities
courtyard
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
(269) 612-1350
Source:
Crexi
Added: Aug 29
Changed: Sep 1
Last Checked: Sep 1 at 9:41PM
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
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.
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 = 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
$7,987
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
4.24%
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%
$159,740
$159.7K
Cap Rate 7%
$114,100
$114.1K
Cap Rate 9%
$88,744
$88.7K
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
$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 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%
$159,740
Cap Rate 7%
$114,100
Cap Rate 9%
$88,744
Alternative Uses
Best Use
Office B
$114.1K
$99.8K – $133.1K
NOI $7,987 @ 7.0% cap · market cap 4.24%
Second Best
Retail
$107.5K
$94.1K – $125.4K
NOI $7,526 @ 7.0% cap · market cap 3.99%
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
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
Questions? Ask Rey
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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
