Retail Space with Kitchen
New
For Sale
$430,000
225 N Whittaker Street #5, New Buffalo, MI 49117
Commercial unit with food-service equipment, a private owner entrance, and access to shared development amenities.
Property Size1,142 SF
Days on Market2
Property Features for 225 N Whittaker Street #5
General Information
Standard status
Active
Size
1,142 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,753
Amenities
Fitness center
swimming pool
Elevator to the rooftop terrace
meeting room with a kitchenette
Building Details
Building Size
1,142 SF
Year Built
2006
Buildings
1
Stories
1
Units
6
Listing Agency:
The Shore Real Estate Group
(269) 519-4777
Listed By:
Joy Schwarting · License #6501353727
(269) 519-4777
Source:
Buyatthelake
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 5:48AM
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 The Shore Real Estate Group
Investment Insights
Based on property information with market context.
This retail unit at 225 N Whittaker Street #5 is part of the Bridgewater Development, a project completed in 2006 with six commercial units. The sale includes business inventory and equipment, including a commercial cooler, refrigerator, oven, kitchen equipment, and stainless steel shelving. A private owner entrance connects the unit to the development’s gated parking area.
The property is positioned near the Amtrak station, Stray Dog, the marina district, and Lake Michigan beach. Shared development amenities include a fitness center, swimming pool, elevator access to a rooftop terrace, and a meeting room with a kitchenette. The space is identified as suitable for retail and food-oriented concepts such as a coffee shop, bakery, juice bar, café, specialty market, or sandwich shop.
The property is positioned near the Amtrak station, Stray Dog, the marina district, and Lake Michigan beach. Shared development amenities include a fitness center, swimming pool, elevator access to a rooftop terrace, and a meeting room with a kitchenette. The space is identified as suitable for retail and food-oriented concepts such as a coffee shop, bakery, juice bar, café, specialty market, or sandwich shop.
Key Highlights
- Retail unit within Bridgewater Development, one of six commercial units
- Business inventory includes commercial cooler, refrigerator, oven, kitchen equipment, and stainless steel shelving
- Private owner entrance from the development’s gated parking area
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
$12,702
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
2.95%
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%
$254,040
$254.0K
Cap Rate 7%
$181,457
$181.5K
Cap Rate 9%
$141,133
$141.1K
Market Conditions
NOI Build-Up for 1,142 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
$17.7K $15.48/SF
− Vacancy
−$742 −$0.65/SF
EGI
$16.9K $14.83/SF
− OpEx
−$4.2K −$3.71/SF
NOI
$12.7K $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%
$254,040
Cap Rate 7%
$181,457
Cap Rate 9%
$141,133
Alternative Uses
Best Use
Specialty Retail
$181.5K
$158.8K – $211.7K
NOI $12,702 @ 7.0% cap · market cap 2.95%
Second Best
Retail
$169.4K
$148.2K – $197.6K
NOI $11,855 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$240.3K
$210.3K – $280.4K
NOI $16,821 @ 7.0% cap · market cap 3.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Commercial unit with food-service equipment, a private owner entrance, and access to shared development amenities.
Where is this retail space located?
The property is located at 225 N Whittaker Street #5 New Buffalo, MI.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Retail unit within Bridgewater Development, one of six commercial units; Business inventory includes commercial cooler, refrigerator, oven, kitchen equipment, and stainless steel shelving; Private owner entrance from the development’s gated parking area
