Listing Agency: Coldwell Banker Realty

Listed By: Sandy Fenderbosch · License #6506040710 Show Phone

Source: Katie-k

Added: Jul 14 Changed: Oct 4 Last Checked: Oct 7 at 1:08PM

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Investment Insights

Based on property information with market context.

This multi-structure mixed-use property combines commercial, residential, storage, and service-oriented improvements in one setting. The main building includes 2,667 sq. ft. of lower-level commercial space, while its upper level contains a 1,917 sq. ft. two-bedroom residence. A separate building adds a newly constructed one-bedroom apartment, creating additional on-site residential capacity. The property also includes a 992 sq. ft. warehouse and a 1200 sq. ft. garage for storage, production, logistics, or related operational needs.

The commercial area is positioned along Three Oaks Road, with proximity to downtown Three Oaks and Harbor County destinations. Additional site features include ample parking, maintained outdoor areas, an inground pool, and a gazebo. The combination of multiple structures and varied spaces supports a broad range of commercial and live-work configurations, subject to applicable approvals and requirements.

Key Highlights

• 2,667 sq. ft. of lower‑level commercial space in the main building
• 1,917 sq. ft. two‑bedroom residence on the main building’s upper level
• Newly constructed one‑bedroom apartment in the secondary building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,631

Cap Rate

5.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$712,620 $712.6K

Cap Rate 7%

$509,014 $509.0K

Cap Rate 9%

$395,900 $395.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,568 SF

Gross rent

$45.7K $6.96/SF

− Vacancy

−$3.8K −$0.58/SF

EGI

$41.9K $6.38/SF

− OpEx

−$6.3K −$0.96/SF

NOI

$35.6K $5.42/SF

Area

Berrien County, MI

Vacancy

8.30%

Lease Rate

$6.96 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$712,620

Cap Rate 7%

$509,014

Cap Rate 9%

$395,900

Alternative Uses

Best Use

Office B

$1.03M

$904.4K – $1.21M (±1% cap)

NOI $72,355 @ 7.0% cap · market cap 10.35%

Second Best

Retail

$974.0K

$852.3K – $1.14M (±1% cap)

NOI $68,182 @ 7.0% cap · market cap 9.75%

Theoretical Best

Office A

$1.38M

$1.21M – $1.61M (±1% cap)

NOI $96,746 @ 7.0% cap · market cap 13.84%

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

Property Analytics

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Current Use

Caesar's Pools LLC General Contractor

Suggested Use

Top Pick Building Supply Pet Grooming Service Restaurant Food Market Travel Agency

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

16

Businesses Nearby

Explore this area Business Placement

Demographics for 49128, MI

3,448

Population

1,929

Households

1.8

Avg Household Size

52

Median Age

24%

College-Educated

94%

High-School Grad

43.7 sq mi

ZIP Area

79

Density / Sq Mi

$73,023

Median Household Income

$41,460

Median Earnings

$984

Median Rent

$247,000

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

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4 W Linden St, Three Oaks, MI 49128

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5,864 SF

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Flex Space with Woodshop Improvements

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Versatile commercial property with on-site residences, warehouse support, garage space, and outdoor amenities.

Where is this mixed-use property located?

The property is located at 15320 Three Oaks Rd Three Oaks, MI.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: 2,667 sq. ft. of lower‑level commercial space in the main building; 1,917 sq. ft. two‑bedroom residence on the main building’s upper level; Newly constructed one‑bedroom apartment in the secondary building