Retail Space with Kitchen
New
For Sale
$430,000
225 N Whittaker Street #5, New Buffalo, MI 49117
The unit comes with business inventory and a private entrance from the development’s gated parking area.
Property Size1,142 SF
Price / SF$376.53
Days on Market5
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 pools
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) 921-7261
Listed By:
Joy Schwarting · License #6501353727
(269) 519-4777
Source:
Buskardgroup
Added: Oct 19
Changed: Oct 22
Last Checked: Oct 22 at 2:29PM
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
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Investment Insights
Based on property information with market context.
This 1,142-square-foot retail unit in New Buffalo’s Bridgewater Development was built in 2006 and is one of six commercial units in the development. Included business equipment comprises a commercial cooler, refrigerator, oven, kitchen equipment and stainless steel shelving. The unit also has a private owner entrance from the gated parking area.
The property is steps from the Amtrak station, Stray Dog, the marina district and Lake Michigan beach. Development amenities include a fitness center, swimming pools, an elevator to the rooftop terrace, and a meeting room with a kitchenette.
The property is steps from the Amtrak station, Stray Dog, the marina district and Lake Michigan beach. Development amenities include a fitness center, swimming pools, an elevator to the rooftop terrace, and a meeting room with a kitchenette.
Key Highlights
- 1,142‑square‑foot retail unit built in 2006
- Business equipment includes a 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 / Yr
$12,702
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - The unit comes with business inventory and a private entrance from the development’s gated parking area.
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: 1,142‑square‑foot retail unit built in 2006; Business equipment includes a commercial cooler, refrigerator, oven, kitchen equipment and stainless steel shelving; Private owner entrance from the development’s gated parking area
