Two-Tenant Storefront
New
For Sale
$799,900
3830-3824 M 139, St Joseph, MI 49085
Flexible commercial layouts support retail, office, medical, and service-based uses.
Property Size6,490 SF
Days on Market6
Property Features for 3830-3824 M 139
General Information
Standard status
Active
Size
6,490 SF
Total Parking Spaces
30
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$9,583
Building Details
Building Size
6,490 SF
Year Built
1983
Buildings
1
Units
2
Tenancy
Multi
Listing Agency:
The Shore Real Estate Group
(269) 357-6040
Listed By:
Julie Dalson Scott
(269) 357-6040
Source:
Eliterealtymi
Added: Aug 16
Changed: Aug 17
Last Checked: Aug 20 at 2:06PM
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 The Shore Real Estate Group
Investment Insights
Based on property information with market context.
This storefront property at 3830-3824 M-139 includes flexible layouts suited to retail, office, medical, and service-based operations. The building is occupied by two tenants and was constructed in 1983, offering an established commercial configuration with on-site parking.
Located along M-139 in St. Joseph, the property provides direct corridor access and frontage on a traveled route. I-94 and downtown St. Joseph are minutes away, connecting the site with surrounding areas. The combination of existing occupancy, adaptable space, parking, and accessible positioning supports both investor and owner-user applications.
Located along M-139 in St. Joseph, the property provides direct corridor access and frontage on a traveled route. I-94 and downtown St. Joseph are minutes away, connecting the site with surrounding areas. The combination of existing occupancy, adaptable space, parking, and accessible positioning supports both investor and owner-user applications.
Key Highlights
- Two tenants currently occupy the property
- Storefront layouts support retail, office, medical, and service‑based uses
- Constructed in 1983
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
$72,363
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
9.05%
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%
$1,447,260
$1.4M
Cap Rate 7%
$1,033,757
$1.0M
Cap Rate 9%
$804,033
$804.0K
Market Conditions
NOI Build-Up for 6,490 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
$138.6K $21.36/SF
− Vacancy
−$18.0K −$2.78/SF
EGI
$120.6K $18.58/SF
− OpEx
−$48.2K −$7.43/SF
NOI
$72.4K $11.15/SF
Area
Berrien County, MI
Vacancy
13.00%
Lease Rate
$21.36 /SF/Yr
Expense Ratio
40.00%
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%
$1,447,260
Cap Rate 7%
$1,033,757
Cap Rate 9%
$804,033
Alternative Uses
Best Use
Healthcare Medical
$1.03M
$904.5K – $1.21M
NOI $72,363 @ 7.0% cap · market cap 9.05%
Second Best
Office B
$1.02M
$893.7K – $1.19M
NOI $71,496 @ 7.0% cap · market cap 8.94%
Theoretical Best
Office A
$1.37M
$1.19M – $1.59M
NOI $95,597 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
106
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial layouts support retail, office, medical, and service-based uses.
Where is this storefront property located?
The property is located at 3830-3824 M 139 St Joseph, MI.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Two tenants currently occupy the property; Storefront layouts support retail, office, medical, and service‑based uses; Constructed in 1983
