New
For Sale
$699,000
15320 Three Oaks Road, Three Oaks, MI 49128
Mixed-use properties
Property Size6,568 SF
Days on Market7
Property Features for 15320 Three Oaks Road
General Information
Standard status
Active
Size
6,568 SF
Total Parking Spaces
20
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,322
Building Details
Building Size
6,568 SF
Buildings
3
Stories
3
Units
4
Listing Agency:
Coldwell Banker Realty
(269) 449-4663
Listed By:
Sandy Fenderbosch
(269) 449-4663
Source:
Buyatthelake
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 24 at 4:26AM
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 Coldwell Banker Realty
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
$35,631
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
5.10%
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%
$712,620
$712.6K
Cap Rate 7%
$509,014
$509.0K
Cap Rate 9%
$395,900
$395.9K
Market Conditions
NOI Build-Up for 6,568 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
$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 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%
$712,620
Cap Rate 7%
$509,014
Cap Rate 9%
$395,900
Alternative Uses
Best Use
Mixed Use
$950.0K
$831.3K – $1.11M
NOI $66,501 @ 7.0% cap · market cap 9.51%
Second Best
Warehouse
$509.0K
$445.4K – $593.9K
NOI $35,631 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,746 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
Where is this mixed-use property located?
The property is located at 15320 Three Oaks Road Three Oaks, MI.
What is the asking price?
The asking price for this property is $699,000.
