Flex Space with Overhead
For Sale
$549,000
3408 Hollywood Road, St Joseph, MI 49085
Commercial Sale, St. Joseph, MI
Property Size4,865 SF
Lot Size0.67 Acres
Price / SF$112.85
Days on Market93
Property Features for 3408 Hollywood Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
I-1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
St. Joseph
Middle school district
St. Joseph
High school district
St. Joseph
Standard status
Active
APN
11-18-0012-0012-01-6
Size
4,865 SF
Lot size
0.67 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
On file.
Tax Annual Amount
7805
Legal Description
On file.
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Building Details
Year built
1955
Floors in Building
1
Number of units
1
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Dane L Davis · License #6502376827
(269) 459-0434
Added: Jun 26
Changed: Sep 7
Last Checked: Sep 26 at 2:06AM
MLS# 26032148
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.
Located at 3408 Hollywood Road, the property includes a 4,865-square-foot office and warehouse building on 0.67 acres. Built in 1955, the facility has three overhead doors, 10-foot ceilings, forced-air heating, and a bathroom. Natural gas is available, and the layout supports office, warehouse, and light industrial operations.
The site sits adjacent to I-94 and near Niles Road, with reported traffic volumes of more than 61,000 vehicles per day on I-94 and nearly 17,000 vehicles per day on Niles Road. Five Guys, Moe's Southwest Grill, Hoopla Frozen Yogurt, and Corewell Health Lakeland Hospital are within minutes. The property is zoned I-1 Industrial.
The site sits adjacent to I-94 and near Niles Road, with reported traffic volumes of more than 61,000 vehicles per day on I-94 and nearly 17,000 vehicles per day on Niles Road. Five Guys, Moe's Southwest Grill, Hoopla Frozen Yogurt, and Corewell Health Lakeland Hospital are within minutes. The property is zoned I-1 Industrial.
Key Highlights
- 4,865‑square‑foot office/warehouse building on 0.67 acres
- Three overhead doors and 10‑foot ceilings
- I‑1 Industrial zoning
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
$26,392
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
4.81%
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%
$527,840
$527.8K
Cap Rate 7%
$377,029
$377.0K
Cap Rate 9%
$293,244
$293.2K
Market Conditions
NOI Build-Up for 4,865 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
$33.9K $6.96/SF
− Vacancy
−$2.8K −$0.58/SF
EGI
$31.0K $6.38/SF
− OpEx
−$4.7K −$0.96/SF
NOI
$26.4K $5.42/SF
Area
Berrien County, MI
Vacancy
8.30%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
15.00%
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%
$527,840
Cap Rate 7%
$377,029
Cap Rate 9%
$293,244
Alternative Uses
Best Use
Office B
$765.6K
$669.9K – $893.3K
NOI $53,595 @ 7.0% cap · market cap 9.76%
Second Best
Warehouse
$377.0K
$329.9K – $439.9K
NOI $26,392 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$1.02M
$895.8K – $1.19M
NOI $71,661 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
10 ft
Clear height
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
Balanced
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - I-1-zoned property supports office, warehouse, and light industrial operations.
Where is this flex space located?
The property is located at 3408 Hollywood Road St Joseph, MI.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 4,865‑square‑foot office/warehouse building on 0.67 acres; Three overhead doors and 10‑foot ceilings; I‑1 Industrial zoning
