Dome-Roof Flex
For Sale
$550,000
219 E Buffalo Street, New Buffalo, MI 49117
Adaptable commercial interior with curved timber trusses, overhead access, updated electrical, and on-site parking.
Property Size4,800 SF
Price / SF$114.58
Days on Market120
Property Features for 219 E Buffalo Street
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Business Opportunity
Taxes and HOA fees
Annual Taxes
$4,562
Building Details
Building Size
4,800 SF
Year Built
1960
Units
1
Listing Agency:
Berkshire Hathaway HomeServices Chicago
(269) 470-7832
Listed By:
Betty M Biernacki · License #6506044291
(269) 470-7832
Source:
Phgrealty
Added: Apr 11
Changed: Aug 3
Last Checked: Aug 7 at 9:53AM
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 4,800-square-foot flex space in New Buffalo presents an open interior that can be configured around a buyer’s planned use. The building’s defining architectural element is its dome-style roof, supported by curved wooden trusses that remain visible inside. New windows, updated electrical wiring, interior heat, and two overhead doors add practical functionality to the existing structure, which was built in 1960.
The property is located at 219 E Buffalo Street, one block east of Whittaker Street, with an on-site parking lot positioned west of the building. Its combination of open floor area, overhead access, and existing building improvements provides a flexible foundation for a range of commercial configurations.
The property is located at 219 E Buffalo Street, one block east of Whittaker Street, with an on-site parking lot positioned west of the building. Its combination of open floor area, overhead access, and existing building improvements provides a flexible foundation for a range of commercial configurations.
Key Highlights
- 4,800 SF flex building in New Buffalo
- Dome‑style roof with exposed curved wooden trusses
- Two overhead doors provide building access
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
$24,033
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
4.37%
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%
$480,660
$480.7K
Cap Rate 7%
$343,329
$343.3K
Cap Rate 9%
$267,033
$267.0K
Market Conditions
NOI Build-Up for 4,800 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
$40.3K $8.40/SF
− Vacancy
−$3.3K −$0.70/SF
EGI
$37.0K $7.70/SF
− OpEx
−$12.9K −$2.70/SF
NOI
$24.0K $5.01/SF
Area
Berrien County, MI
Vacancy
8.30%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
35.00%
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%
$480,660
Cap Rate 7%
$343,329
Cap Rate 9%
$267,033
Alternative Uses
Best Use
Flex RnD
$343.3K
$300.4K – $400.6K
NOI $24,033 @ 7.0% cap · market cap 4.37%
Second Best
Industrial
$306.4K
$268.1K – $357.4K
NOI $21,445 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$1.01M
$883.8K – $1.18M
NOI $70,703 @ 7.0% cap · market cap 12.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49117, MI
3,710
Population
3,790
Households
1
Avg Household Size
54
Median Age
46%
College-Educated
96%
High-School Grad
19.0 sq mi
ZIP Area
195
Density / Sq Mi
$75,268
Median Household Income
$48,056
Median Earnings
$749
Median Rent
$448,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial interior with curved timber trusses, overhead access, updated electrical, and on-site parking.
Where is this flex space located?
The property is located at 219 E Buffalo Street New Buffalo, MI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 4,800 SF flex building in New Buffalo; Dome‑style roof with exposed curved wooden trusses; Two overhead doors provide building access
