321 State Street, St Joseph, MI 49085
Newly remodeled tasting room with handicap-accessible restrooms, full basement, and a lease in place through 12/31/31.
- Added:
- Jun 16, 2026
- Days on Market:
- 12
- Last Refresh:
- Jun 24 at 2:43 am
Property Features for 321 State Street
General Information
- Standard status
- Active
- Size
- 2,000 SF
- Property subtype
- Business for Sale, Office, Retail, Industrial
Building Details
- Year Built
- 1886
Listing office Realty Executives Pro Brokers (269) 208-8996
Listing date Jun 16, 2026
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of Realty Executives Pro Brokers
HighLights
- Newly remodeled 2,000 SF tasting room with 2 handicap‑accessible bathrooms and full basement
- Lease in place through 12/31/31 with potential renewal for an additional 10 years
- Sale includes custom built tasting bar and tables, tasting room assets, business name, trademark, logo, and other proprietary rights
- Located in a Michigan Social District area; licensing allows for additional yearly revenue
- Year built: 1886
Overview
The tasting room is located in downtown St. Joseph, Michigan at 321 State Street, within a Michigan Social District area. The current lease is in place until 12/31/31, with opportunity for renewal for an additional 10 years, supporting continuity for an acquiring operator during the remaining term.
This offering is designed for a winery operator seeking an established brand expansion via a lease takeover of the tasting room operation. It also provides a ready-to-use remodeled space for immediate business use, while the included proprietary rights are intended to support brand continuity. Please note the sale does not include the license, the building, or equipment. The listing also references a separate MLS offering for a winery/distillery production building, inventory, and equipment (MLS #26029686).
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.0k | $15.48 |
| − Vacancy | −$1.3k | −$0.65 |
| EGI | $29.7k | $14.83 |
| − OpEx | −$8.9k | −$4.45 |
| NOI | $20.8k | $10.38 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- St Joseph
- County
- Berrien
- State
- Michigan
- Longitude
- -86.481881
- Latitude
- 42.109299
