Flexible Flex Space with Warehouse
For Sale
$375,000
295 Urbandale Avenue, Benton Harbor, MI 49022
Commercial Sale, Benton Harbor, MI
Property Size7,500 SF
Lot Size1.14 Acres
Price / SF$50
Days on Market49
Property Features for 295 Urbandale Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Elementary school district
Benton Harbor
Middle school district
Benton Harbor
High school district
Benton Harbor
Standard status
Active
APN
11-03-7850-0024-01-0
Size
7,500 SF
Lot size
1.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT:2,24-25 DIST:03 UNIT:2,2 CITY/MUNI/TWP:BENTON TWP PT OF LOTS 24 & 25 SUPERV PLAT OF URBANDALE ADD COM 877.01'S OF...
Tax Annual Amount
5605
Legal Description
LOT:2,24-25 DIST:03 UNIT:2,2 CITY/MUNI/TWP:BENTON TWP PT OF LOTS 24 & 25 SUPERV PLAT OF URBANDALE ADD COM 877.01'S OF...
Utilities
Utilities
Phone Available
Heating system
Forced Air
Cooling system
Central Air
Amenities
recording booth
kitchenette
Building Details
Year built
1986
Number of units
1
Building materials
Brick, Metal Siding
Listing Agency:
Coldwell Banker Anchor R.E.
(269) 983-0011
Listed By:
Wendy Morauske
(269) 369-3699
Added: Jul 30
Changed: Sep 7
Last Checked: Sep 16 at 4:06AM
MLS# 26039376
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 7,500-square-foot flex property, built in 1986, combines warehouse areas with multiple offices and a recording booth. The layout also includes two bathrooms, a kitchenette, a large overhead exterior door, and ceiling heights reaching 26 feet. Brick and metal siding construction is complemented by central air, forced-air heating, and two AC units serving three heating and cooling zones. The property is being sold as-is.
Set on 1.14 acres along a commercial corridor in Benton Harbor, the property offers access to I-94 and Lake Michigan shoreline communities. Phone service is available, and the site includes a mix of warehouse, office, and support areas within a single commercial building.
Set on 1.14 acres along a commercial corridor in Benton Harbor, the property offers access to I-94 and Lake Michigan shoreline communities. Phone service is available, and the site includes a mix of warehouse, office, and support areas within a single commercial building.
Key Highlights
- 7,500‑square‑foot flex property on 1.14 acres
- Ceiling heights reach 26 feet
- Warehouse areas, multiple offices, and a recording booth
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
$33,507
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
8.94%
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%
$670,140
$670.1K
Cap Rate 7%
$478,671
$478.7K
Cap Rate 9%
$372,300
$372.3K
Market Conditions
NOI Build-Up for 7,500 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
$52.2K $6.96/SF
− Vacancy
−$4.3K −$0.58/SF
EGI
$47.9K $6.38/SF
− OpEx
−$14.4K −$1.91/SF
NOI
$33.5K $4.47/SF
Area
Berrien County, MI
Vacancy
8.30%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
30.00%
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%
$670,140
Cap Rate 7%
$478,671
Cap Rate 9%
$372,300
Alternative Uses
Best Use
Office B
$1.18M
$1.03M – $1.38M
NOI $82,623 @ 7.0% cap · market cap 22.03%
Second Best
Warehouse
$581.2K
$508.6K – $678.1K
NOI $40,687 @ 7.0% cap · market cap 10.85%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,474 @ 7.0% cap · market cap 29.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
26 ft
Clear height
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Under-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 Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial space combines warehouse areas, offices, specialized studio space, and practical support facilities.
Where is this flex space located?
The property is located at 295 Urbandale Avenue Benton Harbor, MI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 7,500‑square‑foot flex property on 1.14 acres; Ceiling heights reach 26 feet; Warehouse areas, multiple offices, and a recording booth
