Strip
For Sale
$1,975,000
208 S Elm Street, Three Oaks, MI 49128
The commercial property is accessed from US 12, while a residential building faces Elm Street around the corner.
Property Size16,474 SF
Days on Market50
Property Features for 208 S Elm Street
General Information
Standard status
Active
Size
16,474 SF
Taxes and HOA fees
Annual Taxes
$8,499
Amenities
Central Air
Natural Gas, Forced Air
Paved
Building Details
Building Size
16,474 SF
Year Built
1900
Buildings
2
Listing Agency:
Coldwell Banker Realty
Listed By:
ChooseChad Team
(219) 241-9083
Source:
Evrealestate
Added: Aug 18
Changed: Oct 5
Last Checked: Oct 5 at 6:04PM
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
Investment Insights
Based on property information with market context.
The property is identified as a strip mall and includes a residential building positioned around the corner, with its frontage on Elm Street. Central air and natural gas forced-air heating are listed among the interior features, and the exterior is paved. The recorded year built is 1900.
Access to the commercial property is from US 12. The residential building faces Elm Street.
Access to the commercial property is from US 12. The residential building faces Elm Street.
Key Highlights
- Commercial property entrance accessed from US 12
- Residential building around the corner facing Elm Street
- Central air and natural gas forced‑air heating
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$171,015
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,420,300
$3.4M
Cap Rate 7%
$2,443,071
$2.4M
Cap Rate 9%
$1,900,167
$1.9M
Market Conditions
NOI Build-Up for 16,474 SF
Gross rent
$255.0K $15.48/SF
− Vacancy
−$10.7K −$0.65/SF
EGI
$244.3K $14.83/SF
− OpEx
−$73.3K −$4.45/SF
NOI
$171.0K $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 Rate 5%
$3,420,300
Cap Rate 7%
$2,443,071
Cap Rate 9%
$1,900,167
Alternative Uses
Best Use
Retail
$2.44M
$2.14M – $2.85M
NOI $171,015 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.47M
$3.03M – $4.04M
NOI $242,660 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
212
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Speedway
Shops & Services
11,674 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Strip mall - The commercial property is accessed from US 12, while a residential building faces Elm Street around the corner.
Where is this strip mall located?
The property is located at 208 S Elm Street Three Oaks, MI.
What is the asking price?
The asking price for this property is $1,975,000.
What are key features of this property?
This property features: Commercial property entrance accessed from US 12; Residential building around the corner facing Elm Street; Central air and natural gas forced‑air heating
