Building Details

Building Size 2,280 SF

Year Built 2016

Stories 3

Listing Agency: Jaqua Realtors

Listed By: Christine Norland · License #6506047714 Show Phone

Source: Kw

Added: Aug 15, 2025 Changed: Aug 15 Last Checked: May 19 at 8:53PM

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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 Jaqua Realtors

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Investment Insights

Based on property information with market context.

This meticulously maintained townhouse-style condo is located in Shoreham Condominiums, within the Lakeshore Schools district. The property offers over 3,000 finished square feet of living space. The 5-bedroom, 3.5-bathroom home provides the space of a single-family residence with the ease of condo living. The main level features an open floor plan with cathedral ceilings, hardwood floors, and a stone mantle gas fireplace. The kitchen is beautifully appointed with premium newer appliances, including a KitchenAid dishwasher, JennAir stainless refrigerator, new Maytag gas range, and Whirlpool washer and dryer with pedestals. A convenient main-floor primary suite includes a walk-in closet and private bath, plus main-floor laundry. The upper level offers a loft area, three large bedrooms, and a full bath. The finished lower level includes a family/rec room, a bedroom, and a full bath, making it ideal for guests. The property size is 2280 square feet.

Key Highlights

• Over 3,000 sq ft of finished living space offers the size of a single‑family home with condo convenience.
• 5 bedrooms and 3.5 bathrooms provide ample space for families and guests.
• Main‑floor primary suite with walk‑in closet and private bath offers convenience and privacy.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,609

Cap Rate

4.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$372,180 $372.2K

Cap Rate 7%

$265,843 $265.8K

Cap Rate 9%

$206,767 $206.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,280 SF

Gross rent

$35.8K $15.72/SF

− Vacancy

−$2.0K −$0.88/SF

EGI

$33.8K $14.84/SF

− OpEx

−$15.2K −$6.68/SF

NOI

$18.6K $8.16/SF

Area

Berrien County, MI

Vacancy

5.60%

Lease Rate

$15.72 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$372,180

Cap Rate 7%

$265,843

Cap Rate 9%

$206,767

Alternative Uses

Best Use

Apartment 5plus

$265.8K

$232.6K – $310.2K (±1% cap)

NOI $18,609 @ 7.0% cap · market cap 4.98%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$479.8K

$419.8K – $559.7K (±1% cap)

NOI $33,584 @ 7.0% cap · market cap 8.98%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Hair Salon Dental Office Nail Salon Plumbing Service Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

399

Businesses Nearby

Explore this area Business Placement

Demographics for 49085, MI

24,047

Population

11,468

Households

2.1

Avg Household Size

44

Median Age

49%

College-Educated

97%

High-School Grad

24.1 sq mi

ZIP Area

998

Density / Sq Mi

$101,763

Median Household Income

$58,316

Median Earnings

$1,099

Median Rent

$287,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Meticulously maintained 5BR condo with over 3,000 finished sq ft.

Where is this apartment building located?

The property is located at 2566 HOLIDAY HOUSE Saint Saint Joseph, MI.

What is the asking price?

The asking price for this property is $374,000.

What are key features of this property?

This property features: Over 3,000 sq ft of finished living space offers the size of a single‑family home with condo convenience.; 5 bedrooms and 3.5 bathrooms provide ample space for families and guests.; Main‑floor primary suite with walk‑in closet and private bath offers convenience and privacy.