Automotive Repair and Rental
For Sale
Contact for pricing
1467 Main Street, St Joseph, MI 49085
Automotive repair and car rental facility on a heavily traveled Main Street intersection near downtown and the waterfront.
Property Size1,175 SF
Price / SF$280.85
Days on Market56
Property Features for 1467 Main Street
General Information
Standard status
Active
Size
1,175 SF
Property subtype
Business for Sale, Retail
Additional Details
Business Included
Yes
Building Details
Year Built
1950
Buildings
1
Units
1
Listing Agency:
Realty Executives Pro Brokers Joseph
(269) 930-3535
Listed By:
Keene Taylor · License #6501423429
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 11 at 4:33PM
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 Realty Executives Pro Brokers Joseph
Investment Insights
Based on property information with market context.
The property is currently operated as Hardin's Auto Repair and Car Rental. It offers an automotive-focused setup that can support continued auto repair use or be adapted for other commercial opportunities.
Located on Main Street in St. Joseph, Michigan, the site sits at one of the area’s most traveled intersections. It is described as only a couple of blocks from downtown and the beaches of St. Joseph, supporting convenient access to both retail and leisure destinations.
For buyers seeking an existing automotive-use location, the current car repair and rental operation provides a practical starting point. For other commercial users, the property’s versatility can allow reconfiguration for a range of businesses, subject to applicable approvals and intended use. Its Main Street intersection setting can be especially helpful for operators who benefit from high-visibility customer access in a central area.
Located on Main Street in St. Joseph, Michigan, the site sits at one of the area’s most traveled intersections. It is described as only a couple of blocks from downtown and the beaches of St. Joseph, supporting convenient access to both retail and leisure destinations.
For buyers seeking an existing automotive-use location, the current car repair and rental operation provides a practical starting point. For other commercial users, the property’s versatility can allow reconfiguration for a range of businesses, subject to applicable approvals and intended use. Its Main Street intersection setting can be especially helpful for operators who benefit from high-visibility customer access in a central area.
Key Highlights
- Automotive repair and car rental facility currently operating as Hardin's Auto Repair and Car Rental
- Located on Main Street at a highly traveled intersection in St. Joseph, MI
- Only a couple of blocks to downtown and the beaches of St. Joseph
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
$12,198
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
3.70%
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%
$243,960
$244.0K
Cap Rate 7%
$174,257
$174.3K
Cap Rate 9%
$135,533
$135.5K
Market Conditions
NOI Build-Up for 1,175 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
$18.2K $15.48/SF
− Vacancy
−$764 −$0.65/SF
EGI
$17.4K $14.83/SF
− OpEx
−$5.2K −$4.45/SF
NOI
$12.2K $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%
$243,960
Cap Rate 7%
$174,257
Cap Rate 9%
$135,533
Alternative Uses
Best Use
Retail
$174.3K
$152.5K – $203.3K
NOI $12,198 @ 7.0% cap · market cap 3.70%
Second Best
Industrial
$75.0K
$65.6K – $87.5K
NOI $5,249 @ 7.0% cap · market cap 1.59%
Theoretical Best
Office A
$247.3K
$216.4K – $288.5K
NOI $17,308 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
876
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49085, MI
24,047
Population
11,468
Households
2.1
Avg Household Size
44
Median Age
49%
College-Educated
97%
High-School Grad
24.1 sq mi
ZIP Area
998
Density / Sq Mi
$101,763
Median Household Income
$58,316
Median Earnings
$1,099
Median Rent
$287,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Zielke's — 1207 Broad St, St Joseph, MI 49085
- First Choice Auto Glass Center — St Joseph, MI 49085
- Hardin's Auto Service — 1467 main st, st joseph, mi 49085
- Le Roys of St Joe — 2504 Pixley Ave, St Joseph, MI 49085
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive repair and car rental facility on a heavily traveled Main Street intersection near downtown and the waterfront.
Where is this auto shop located?
The property is located at 1467 Main Street St Joseph, MI.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Automotive repair and car rental facility currently operating as Hardin's Auto Repair and Car Rental; Located on Main Street at a highly traveled intersection in St. Joseph, MI; Only a couple of blocks to downtown and the beaches of St. Joseph
