Automotive Service
For Sale
$980,000
2861 M 139, Benton Harbor, MI 49022
Vacant commercial building with automotive-use history and direct access to regional traffic routes.
Property Size2,701 SF
Lot Size0.83 Acres
Price / SF$362.83
Days on Market18
Property Features for 2861 M 139
General Information
Standard status
Active
Size
2,701 SF
Lot size
0.83 Acres
Property subtype
Industrial
Site & Location
Road Frontage
200 ft
Highway Access
Yes
Road Access
Yes
Additional Details
Land Use
commercial
Amenities
3
200180
Building Details
Year Built
1965
Buildings
1
Listing Agency:
@properties Christie's International R.E.
(269) 469-0700
Listed By:
Christina Castaneda · License #6501445961
(513) 800-3591
Source:
Xome
Added: Aug 24
Changed: Sep 9
Last Checked: Sep 9 at 4:04PM
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 @properties Christie's International R.E.
Investment Insights
Based on property information with market context.
This vacant automotive property includes a 2,701-square-foot commercial building constructed in 1965 on approximately 0.83 acres. The structure was previously used as a service station and more recently for automotive purposes, offering a foundation for renovation, reuse, or redevelopment. The property is offered AS-IS, with no interior features identified in the available information.
The site is located at 2861 M-139 in Benton Harbor, Michigan, with 200 feet of road frontage and immediate access to I-94. Its position along M-139 places the property at an interchange serving Southwest Michigan corridor traffic. The existing improvements and open site provide flexibility for an owner-user, automotive operator, investor, or developer evaluating a commercial reuse.
The site is located at 2861 M-139 in Benton Harbor, Michigan, with 200 feet of road frontage and immediate access to I-94. Its position along M-139 places the property at an interchange serving Southwest Michigan corridor traffic. The existing improvements and open site provide flexibility for an owner-user, automotive operator, investor, or developer evaluating a commercial reuse.
Key Highlights
- 2,701 SF commercial building on approximately 0.83 acres
- 200 feet of road frontage along M‑139
- Immediate access to I‑94
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
$30,042
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
3.07%
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%
$600,840
$600.8K
Cap Rate 7%
$429,171
$429.2K
Cap Rate 9%
$333,800
$333.8K
Market Conditions
NOI Build-Up for 2,701 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
$41.8K $15.48/SF
− Vacancy
−$1.8K −$0.65/SF
EGI
$40.1K $14.83/SF
− OpEx
−$10.0K −$3.71/SF
NOI
$30.0K $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%
$600,840
Cap Rate 7%
$429,171
Cap Rate 9%
$333,800
Alternative Uses
Best Use
Specialty Retail
$429.2K
$375.5K – $500.7K
NOI $30,042 @ 7.0% cap · market cap 3.07%
Second Best
Retail
$400.6K
$350.5K – $467.3K
NOI $28,039 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$568.4K
$497.3K – $663.1K
NOI $39,785 @ 7.0% cap · market cap 4.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Miller Repair — 2861 M-139, Benton Harbor, MI 49022
- Mike & Son — 2559 M-139, Benton Harbor, MI 49022
- Kepner’s Precision Auto Krafters — 1034 Nickerson Ave, Benton Harbor, MI 49022
- LaRatta Auto Repair LLC — 1007 Nickerson Ave, Benton Harbor, MI 49022
- Gerber Collision & Glass — 1435 Townline Rd, Benton Harbor, MI 49022
Frequently Asked Questions
What type of property is this?
Auto shop - Vacant commercial building with automotive-use history and direct access to regional traffic routes.
Where is this auto shop located?
The property is located at 2861 M 139 Benton Harbor, MI.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: 2,701 SF commercial building on approximately 0.83 acres; 200 feet of road frontage along M‑139; Immediate access to I‑94
