Building Details

Building Size 3,038 SF

Year Built 1930

Units 1

Listing Agency: Berkshire Hathaway HomeServices Chicago s***@gmail.com Show Phone

Listed By: Sigrid T Nutt · License #6501358592 Show Phone

Source: Phgrealty

Added: Jul 13 Changed: Aug 8 Last Checked: Aug 12 at 1:34PM

Report an Issue

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 Berkshire Hathaway HomeServices Chicago

Investment Insights

Based on property information with market context.

This coffee shop property offers a versatile site for food and beverage, retail, wellness, or gallery-style concepts, with zoning designated for both residential and commercial use. Built in 1930, the property provides an established foundation for adapting the space to a tenant’s brand and operating needs.

Located at 14913 Lakeside Road in Chikaming Township, MI, the property is described as within walking distance to Pier Street Beach. That proximity can support uses that benefit from foot traffic and destination appeal.

Zoning compatibility is a key consideration for prospective tenants or buyers looking to operate in a mixed-use regulatory environment while tailoring the interior to their specific concept.

Key Highlights

• Zoned residential and commercial
• Built in 1930
• Walking distance to Pier Street Beach

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

$33,790

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

4.66%

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%

$675,800 $675.8K

Cap Rate 7%

$482,714 $482.7K

Cap Rate 9%

$375,444 $375.4K

Market Conditions

NOI Build-Up for 3,038 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

$47.0K $15.48/SF

− Vacancy

−$2.0K −$0.65/SF

EGI

$45.1K $14.83/SF

− OpEx

−$11.3K −$3.71/SF

NOI

$33.8K $11.12/SF

Area

Berrien County, MI

Vacancy

4.20%

Lease Rate

$15.48 /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%

$675,800

Cap Rate 7%

$482,714

Cap Rate 9%

$375,444

Alternative Uses

Best Use

Specialty Retail

$482.7K

$422.4K – $563.2K (±1% cap)

NOI $33,790 @ 7.0% cap · market cap 4.66%

Second Best

Retail

$450.5K

$394.2K – $525.6K (±1% cap)

NOI $31,537 @ 7.0% cap · market cap 4.35%

Theoretical Best

Office A

$639.3K

$559.4K – $745.8K (±1% cap)

NOI $44,749 @ 7.0% cap · market cap 6.17%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Frecklefarm Interior Design

Suggested Use

Top Pick Plumbing Service (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Garden Center Furniture & Home Goods 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.

Location Intelligence

Trade Area within ½ mile

60

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 49116, MI

278

Population

455

Households

0.6

Avg Household Size

66

Median Age

22%

College-Educated

100%

High-School Grad

1.5 sq mi

ZIP Area

185

Density / Sq Mi

$123,289

Median Household Income

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this coffee shops located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Coffee shop - Residential and commercial zoning supports flexible retail concepts near Pier Street Beach.

Where is this coffee shop located?

The property is located at 14913 Lakeside Road Lakeside, MI.

What is the asking price?

The asking price for this property is $725,000.

What are key features of this property?

This property features: Zoned residential and commercial; Built in 1930; Walking distance to Pier Street Beach