Updated Freestanding
For Sale
$790,000
311 Broadway St, South Haven, MI 49090
Masonry commercial building includes an established scooter and golf cart rental business.
Property Size3,160 SF
Price / SF$250
Days on Market420
Property Features for 311 Broadway St
General Information
Standard status
Active
Size
3,160 SF
Property subtype
Retail
Zoning
C-1 Neighborhood Commercial Zone
Site & Location
Traffic Count
7,703 vehicles/day
Utilities to Site
Yes
Additional Details
Business Included
Yes
Building Details
Year Built
1932
Buildings
1
Construction
masonry
Listing Agency:
Bradley Company
(951) 733-3833
Listed By:
R. Grooters
(951) 733-3833
Source:
Carwm.resimplifi
Added: Jul 7, 2025
Changed: Aug 29
Last Checked: Aug 29 at 1:52PM
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 Bradley Company
Investment Insights
Based on property information with market context.
This freestanding masonry storefront at 311 Broadway St. was built in 1932 and has undergone substantial physical improvements. Updates include a 200-amp electrical service, modern plumbing with an additional bathroom, a replacement garage door, tuck-pointing, and a new roof backed by a lifetime warranty. The property is designated C-1 Neighborhood Commercial Zone.
The sale includes the real estate together with the established scooter and golf cart rental business operating from the building. Its location on a main commercial corridor in South Haven supports retail and service use, with direct customer access from Broadway Street.
The sale includes the real estate together with the established scooter and golf cart rental business operating from the building. Its location on a main commercial corridor in South Haven supports retail and service use, with direct customer access from Broadway Street.
Key Highlights
- Freestanding masonry storefront at 311 Broadway St., South Haven, MI 49090
- C‑1 Neighborhood Commercial Zone designation
- Built in 1932 with substantial recent building improvements
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
$32,804
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
4.15%
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%
$656,080
$656.1K
Cap Rate 7%
$468,629
$468.6K
Cap Rate 9%
$364,489
$364.5K
Market Conditions
NOI Build-Up for 3,160 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
$48.9K $15.48/SF
− Vacancy
−$2.1K −$0.65/SF
EGI
$46.9K $14.83/SF
− OpEx
−$14.1K −$4.45/SF
NOI
$32.8K $10.38/SF
Area
Van Buren 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%
$656,080
Cap Rate 7%
$468,629
Cap Rate 9%
$364,489
Alternative Uses
Best Use
Retail
$468.6K
$410.1K – $546.7K
NOI $32,804 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$39.07M
$34.19M – $45.59M
NOI $2,735,100 @ 7.0% cap · market cap 346.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7,703 VPD
Traffic count
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
658
Businesses Nearby
30k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Dining 34%
Home Improvements & Furnishings 8%
Apparel 5%
Burger King
Dining
7,810 visits/mo
0.4 miles
Shell
Shops & Services
5,494 visits/mo
0.1 miles
Family Dollar
Shops & Services
4,092 visits/mo
0.3 miles
Fifth Third Bank & ATM
Shops & Services
3,251 visits/mo
0.1 miles
Marathon
Shops & Services
2,648 visits/mo
0.2 miles
Demographics for 49090, MI
13,286
Population
8,904
Households
1.5
Avg Household Size
49
Median Age
31%
College-Educated
89%
High-School Grad
78.3 sq mi
ZIP Area
170
Density / Sq Mi
$64,643
Median Household Income
$40,067
Median Earnings
$914
Median Rent
$251,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Flower Girl Events — 330 Kalamazoo St, South Haven, MI 49090
Frequently Asked Questions
What type of property is this?
Storefront property - Masonry commercial building includes an established scooter and golf cart rental business.
Where is this storefront property located?
The property is located at 311 Broadway St South Haven, MI.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Freestanding masonry storefront at 311 Broadway St., South Haven, MI 49090; C‑1 Neighborhood Commercial Zone designation; Built in 1932 with substantial recent building improvements
