Updated Storefront with Scooter
New
For Sale
$695,000
311 Broadway Street, South Haven, MI 49090
Commercial Sale, South Haven, MI
Property Size3,160 SF
Lot Size0.14 Acres
Price / SF$219.94
Days on Market1
Property Features for 311 Broadway Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
South Haven
Middle school district
South Haven
High school district
South Haven
Directions
I-196 or Blue Star Highway to Phoenix Street (exit #20 from I-196). West on Phoenix to Broadway. Left (south) on Broadway. Property is on the immediate left.
Standard status
Active
APN
80-53-502-004-50
Size
3,160 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Legal description on file.
Tax Annual Amount
2379
Legal Description
Legal description on file.
Utilities
Utilities
Cable Available
Building Details
Year built
1932
Number of units
1
Building materials
Block, Brick
Roof type
Rubber
Listing Agency:
Michigan Lifestyle Properties · United Real Estate
(800) 413-1016
Listed By:
David S Kreager
(269) 352-1381
Added: Aug 25
Last Checked: Aug 25 at 10:06PM
MLS# 26044872
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 3,160-square-foot storefront, built in 1932, has undergone extensive updates, including upgraded electrical service, improved plumbing, and a new rubber roof. Block and brick construction, broadband access, and a bathroom are among the existing property features. The sale includes the building and South Haven Scooter Rentals, along with its equipment, inventory, goodwill, and past customer data.
The property occupies 0.14 acres at 311 Broadway Street in South Haven, along a primary commercial corridor with daily traffic close to 8,000 vehicles. The seasonal operation typically runs from approximately May 1 through mid-October, with shoulder-season timing influenced by weather. Inventory includes 12 scooters and 14 golf carts. Sellers are willing to provide transition counsel, and financial information is available after execution of a confidentiality agreement.
The property occupies 0.14 acres at 311 Broadway Street in South Haven, along a primary commercial corridor with daily traffic close to 8,000 vehicles. The seasonal operation typically runs from approximately May 1 through mid-October, with shoulder-season timing influenced by weather. Inventory includes 12 scooters and 14 golf carts. Sellers are willing to provide transition counsel, and financial information is available after execution of a confidentiality agreement.
Key Highlights
- 3,160 SF storefront on 0.14 acres at 311 Broadway Street
- South Haven Scooter Rentals included with the real estate
- Inventory includes 12 scooters and 14 golf carts
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
4.72%
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 4.72%
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 393.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8,000 VPD
Traffic count
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
22k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Dining 11%
Home Improvements & Furnishings 11%
Apparel 7%
Shell
Shops & Services
5,494 visits/mo
0.3 miles
Family Dollar
Shops & Services
4,092 visits/mo
0.5 miles
Fifth Third Bank & ATM
Shops & Services
3,251 visits/mo
0.0 miles
Marathon
Shops & Services
2,648 visits/mo
0.4 miles
Wolverine Ace Hardware
Home Improvements & Furnishings
2,414 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
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Frequently Asked Questions
What type of property is this?
Storefront property - Sale includes an operating seasonal rental business, equipment, inventory, goodwill, and customer data.
Where is this storefront property located?
The property is located at 311 Broadway Street South Haven, MI.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 3,160 SF storefront on 0.14 acres at 311 Broadway Street; South Haven Scooter Rentals included with the real estate; Inventory includes 12 scooters and 14 golf carts
