Prime Commercial Space in St.
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300 Main Street, St Joseph, MI 49085
1,740 SF commercial space in downtown St. Joseph, MI.
Property Size1,740 SF
Price / SF$344.25
Days on Market182
Property Features for 300 Main Street
General Information
Standard status
Active
Size
1,740 SF
Class
B
Property subtype
Office, Retail
Zoning
Business Improved
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
1980
Buildings
1
Stories
2
Units
1
Listing Agency:
Realty Executives Pro Brokers Joseph
(269) 208-8996
Listed By:
Keene Taylor · License #6501423429
Source:
Crexi
Added: Feb 20
Changed: Aug 14
Last Checked: Aug 20 at 6:33AM
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 Realty Executives Pro Brokers Joseph
Investment Insights
Based on property information with market context.
This commercial space offers approximately 1,740 square feet in downtown St. Joseph. The location is strategically positioned to capitalize on foot traffic, providing visibility and convenience with access to highways, local shops, and restaurants. The space is suitable for retailers, service providers, or office users looking to establish a business presence in Southwest Michigan's commercial district.
Key Highlights
- Prime downtown St. Joseph location with high foot traffic.
- Approximately 1,740 square feet of versatile commercial space.
- Excellent visibility and convenient access to highways, shops, and restaurants.
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
$18,063
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
3.02%
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%
$361,260
$361.3K
Cap Rate 7%
$258,043
$258.0K
Cap Rate 9%
$200,700
$200.7K
Market Conditions
NOI Build-Up for 1,740 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
$26.9K $15.48/SF
− Vacancy
−$1.1K −$0.65/SF
EGI
$25.8K $14.83/SF
− OpEx
−$7.7K −$4.45/SF
NOI
$18.1K $10.38/SF
Area
Berrien County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$361,260
Cap Rate 7%
$258,043
Cap Rate 9%
$200,700
Alternative Uses
Best Use
Retail
$258.0K
$225.8K – $301.1K
NOI $18,063 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$366.1K
$320.4K – $427.2K
NOI $25,630 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
838
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 1,740 SF commercial space in downtown St. Joseph, MI.
Where is this retail space located?
The property is located at 300 Main Street St Joseph, MI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Prime downtown St. Joseph location with high foot traffic.; Approximately 1,740 square feet of versatile commercial space.; Excellent visibility and convenient access to highways, shops, and restaurants.
