Medical Office Building with
For Sale
$799,900
3830-3824 M 139, St Joseph, MI 49085
COMMERCIAL - St. Joseph, MI
Property Size6,490 SF
Lot Size0.65 Acres
Price / SF$123.25
Days on Market74
Property Features for 3830-3824 M 139
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
B1 Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
30
Interior features
Broadband
Elementary school district
St. Joseph
Middle school district
St. Joseph
High school district
St. Joseph
Directions
South of I94 on M139/Scottdale Road and North of Miners Road. Across the street from Power in Motion.
Standard status
Active
APN
11-17-0007-0015-09-0
Size
6,490 SF
Lot size
0.65 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
see title
Tax Annual Amount
9583
Legal Description
see title
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1983
Floors in Building
1
Number of units
2
Building materials
Brick, Metal Siding
Roof type
Rubber
Listing Agency:
The Shore Real Estate Group
(269) 921-7261
Listed By:
Julie Dalson Scott
(269) 357-6040
Added: Jun 11
Changed: Aug 4
Last Checked: Aug 23 at 1:06PM
MLS# 26028580
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 medical office property encompasses 6,490 square feet on a 0.65-acre site. The building was constructed in 1983 and uses brick and metal siding, with a rubber roof, forced-air heating, central air conditioning, and broadband availability. Interior features include two bathrooms, and the property is occupied by two tenants.
Located at 3830-3824 M 139 in St. Joseph, the property offers on-site parking and access to M-139. The site is positioned near I-94, downtown St. Joseph, and surrounding areas, with frontage along the M-139 corridor. Its medical office classification and existing tenant configuration provide a defined commercial property profile.
Located at 3830-3824 M 139 in St. Joseph, the property offers on-site parking and access to M-139. The site is positioned near I-94, downtown St. Joseph, and surrounding areas, with frontage along the M-139 corridor. Its medical office classification and existing tenant configuration provide a defined commercial property profile.
Key Highlights
- 6,490‑square‑foot medical office property on 0.65 acres
- Occupied by two tenants
- Located at 3830‑3824 M 139 in St. Joseph
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
118
Businesses Nearby
Well-served
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Christensen James F DVM — 4091 M-139, St Joseph, MI 49085
- Sunset Coast Veterinary Clinic — 4091 M-139, St Joseph, MI 49085
Frequently Asked Questions
What type of property is this?
Medical Office Space - Brick commercial property with central air, forced-air heat, broadband, and a two-tenant configuration.
Where is this medical office space 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: 6,490‑square‑foot medical office property on 0.65 acres; Occupied by two tenants; Located at 3830‑3824 M 139 in St. Joseph
