Office Building with Reception
New
For Sale
$269,000
2300 Pipestone Road, Benton Harbor, MI 49022
COMMERCIAL - Benton Harbor, MI
Property Size1,830 SF
Lot Size0.80 Acres
Price / SF$146.99
Days on Market1
Property Features for 2300 Pipestone Road
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Elementary school district
Benton Harbor
Middle school district
Benton Harbor
High school district
Benton Harbor
Directions
East bound of 94 exit Pipestone Rd, head South to property on right sight of road.
Standard status
Active
APN
11-03-0032-0009-05-6
Size
1,830 SF
Lot size
0.80 Acres
Taxes and HOA fees
Tax Description
COM 1327.7'S0DEG26'13''E OF E1/4 PST SEC 32 T4S R18W TH
Legal Description
COM 1327.7'S0DEG26'13''E OF E1/4 PST SEC 32 T4S R18W TH
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Amenities
welcoming entry
dedicated reception/greeting area
multiple private offices
kitchen
two bathrooms
interior storage
separate exterior storage building
Building Details
Year built
1988
Floors in Building
1
Number of units
1
Roof type
Composition
Listing Agency:
Realty Executives Instant Equity · Realty Executives International
(269) 983-7721
Listed By:
Jill Golden · License #6501424803
(269) 208-8996
Added: Aug 12
Last Checked: Aug 12 at 6:06PM
MLS# 26042137
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,830-square-foot office building occupies a 0.8-acre commercial site and was built in 1988. The interior includes a defined reception area, several private offices, a kitchen, two bathrooms, and dedicated storage. A separate exterior storage building adds additional utility, while the property is maintained in solid condition and is currently used for professional purposes.
The site is positioned along a high-traffic commercial corridor with direct highway access and surrounding commercial activity. Building systems include forced-air heating and central air conditioning, with cable available. The existing configuration can support professional office operations and is also identified for potential medical or wellness, retail, and personal-service uses.
The site is positioned along a high-traffic commercial corridor with direct highway access and surrounding commercial activity. Building systems include forced-air heating and central air conditioning, with cable available. The existing configuration can support professional office operations and is also identified for potential medical or wellness, retail, and personal-service uses.
Key Highlights
- 1,830 SF office building on 0.8 acres
- Reception area with multiple private offices
- Kitchen, two bathrooms, and interior storage
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
$20,160
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
7.49%
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%
$403,200
$403.2K
Cap Rate 7%
$288,000
$288.0K
Cap Rate 9%
$224,000
$224.0K
Market Conditions
NOI Build-Up for 1,830 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
$31.2K $17.04/SF
− Vacancy
−$4.3K −$2.35/SF
EGI
$26.9K $14.69/SF
− OpEx
−$6.7K −$3.67/SF
NOI
$20.2K $11.02/SF
Area
Berrien County, MI
Vacancy
13.80%
Lease Rate
$17.04 /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%
$403,200
Cap Rate 7%
$288,000
Cap Rate 9%
$224,000
Alternative Uses
Best Use
Office B
$288.0K
$252.0K – $336.0K
NOI $20,160 @ 7.0% cap · market cap 7.49%
Second Best
Retail
$271.4K
$237.5K – $316.6K
NOI $18,997 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$385.1K
$337.0K – $449.3K
NOI $26,956 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
Explore this area
Business Placement
Demographics for 49022, MI
30,143
Population
14,484
Households
2.1
Avg Household Size
39
Median Age
18%
College-Educated
85%
High-School Grad
67.3 sq mi
ZIP Area
448
Density / Sq Mi
$39,859
Median Household Income
$29,530
Median Earnings
$797
Median Rent
$140,500
Median Home Value
Market
Vacancy Rate% for Office 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?
Office building - Professional-use property with private offices, kitchen, storage, and two bathrooms.
Where is this office building located?
The property is located at 2300 Pipestone Road Benton Harbor, MI.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: 1,830 SF office building on 0.8 acres; Reception area with multiple private offices; Kitchen, two bathrooms, and interior storage
