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    Benton Harbor Commercial Retail Space Title is generated by Realmo AI

    2467 M-139, Benton Harbor, MI 49022

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    Claim this Listing
    For Lease
    $6 SF/Yr $5,812/Mo (calc)

    COMMERCIAL - Benton Harbor, MI

    Type:Retail
    Property size:
    11,625 SF
    Lot size:
    2.03 Acres
    Added:
    Jan 5, 2026
    Days on Market:
    131
    Last Refresh:
    May 16 at 5:06 pm

    Property Features for 2467 M-139

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Parking
    25
    Fireplace
    1
    Standard status
    Active
    APN
    11-03-4770-0004-00-2
    Size
    11,625 SF
    Lot size
    2.03 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    UNIT 4 THE M-139 BUSINESS CONDOMINIUM LIBER 61 PAGE 1

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1989
    Building materials
    Concrete, Brick, Metal Siding, Stone
    Roof type
    Rubber, Metal

    We can help!

    Listing Contact
    Loren Gerber

    Listing agent Loren Gerber License #6506008606

    Listing office Core Real Estate, Inc. 5750 James Dr., Stevensville, MI

    Listing date Jan 5, 2026

    MLS# 26000380

    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.

    HighLights

    • Large commercial/retail space (approx. 11,600 SF) on M‑139 corridor near I‑94.
    • Finished interior with offices, bathrooms, display area, and bonus area.
    • Access to loading dock.
    • Part of a larger home‑improvement business condo complex (40,000 SF).
    • Flexible layout options to meet lessee requirements.
    • Well‑maintained building with concrete, brick, metal siding, and stone construction.

    Overview

    This commercial retail space, Unit 4, offers approximately 11,600 square feet in a home-improvement business condo complex totaling 40,000 square feet. Situated on the M-139 corridor, it is located just north of I-94 Exit 28. The property is suitable for a variety of uses as a retail service provider and other commercial applications. The interior features three carpeted offices, two designer bathrooms, a utility room, a storage room, and a spacious upstairs bonus area in addition to the listed square footage. A large, plush, carpeted display area with a professional sales counter is also included. The layout offers flexibility and can be configured by the lessee to meet specific requirements. The unit has access to a loading dock and is well maintained. The property is situated in Benton Harbor, MI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Benton Harbor
    County
    Berrien
    State
    Michigan
    Longitude
    -86.3578
    Latitude
    42.115

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    FAQs

    What type of property is this?
    Retail space - 11,600 SF commercial/retail space on M-139 corridor.
    Where is this retail space located?
    The property is located at 2467 M-139 Benton Harbor, MI.
    What is the lease rate?
    The lease rate is $6 SF/Yr.
    What are key features of this property?
    This property features: Large commercial/retail space (approx. 11,600 SF) on M‑139 corridor near I‑94.; Finished interior with offices, bathrooms, display area, and bonus area.; Access to loading dock.
    (269) 921-0754
    We can help!
    Listing Contact
    Loren Gerber
    Real Estate License ID: 6506008606
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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