Flex Space with 26-Foot
For Sale
$375,000
295 Urbandale Avenue, Benton Harbor, MI 49022
Combines office areas, warehouse space, a recording booth, and practical support features.
Property Size7,500 SF
Price / SF$50
Days on Market26
Property Features for 295 Urbandale Avenue
General Information
Standard status
Active
Size
7,500 SF
Property subtype
Commercial
Lease Term
Cash, Conventional
Warehouse & Industrial
Clear Height
26 ft
Drive-In Doors
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,605
Amenities
recording booth
kitchenette
large overhead outside door
Building Details
Building Size
7,500 SF
Year Built
1986
Units
1
Listing Agency:
Coldwell Banker Anchor R.E.
(269) 369-3699
Listed By:
Wendy Morauske
(269) 369-3699
Source:
Sabudarealty
Added: Jul 30
Changed: Aug 23
Last Checked: Aug 23 at 3:51AM
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 Coldwell Banker Anchor R.E.
Investment Insights
Based on property information with market context.
This 7,500-square-foot flex property combines multiple offices with substantial warehouse areas, creating a varied commercial layout within a 1986-built facility. Interior features include a recording booth, two bathrooms, and a kitchenette. The building also offers 26-foot ceiling heights, a large overhead exterior door, three furnaces, and two AC units serving three zones. The property is being sold as-is.
Situated along a commercial corridor, the property provides access to I-94 and Lake Michigan shoreline communities. Its combination of office, warehouse, production, and support areas accommodates the distinct spaces identified in the property information without relying on a single-use configuration.
Situated along a commercial corridor, the property provides access to I-94 and Lake Michigan shoreline communities. Its combination of office, warehouse, production, and support areas accommodates the distinct spaces identified in the property information without relying on a single-use configuration.
Key Highlights
- 7,500 square feet of flex space
- 26‑foot ceiling heights
- Multiple offices plus large warehouse areas
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
Property Profile
Current Use
Lease Details
26 ft
Clear height
1
Drive-in doors
Yes
Highway 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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Combines office areas, warehouse space, a recording booth, and practical support features.
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 feet of flex space; 26‑foot ceiling heights; Multiple offices plus large warehouse areas
