Waterfront Office and Wellness
For Sale
Under Contract
$749,900
401 Klock Road, Benton Harbor, MI 49022
COMMERCIAL - Benton Harbor, MI
Property Size3,916 SF
Lot Size13.86 Acres
Price / SF$191.50
Days on Market54
Property Features for 401 Klock Road
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Elementary school district
Benton Harbor
Middle school district
Benton Harbor
High school district
Benton Harbor
Directions
South on M-63 to Turn right onto Klock Rd. Arrive at 401 Klock Rd on your right.
Standard status
Active Under Contract
APN
11-54-0013-0030-11-6
Size
3,916 SF
Lot size
13.86 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
THAT PT OF FOL DESC LYING S OF SLY R/W OF M-139 COM 230'S & 1205.67'W OF E1/4 PST SEC 13 T4S R19W TH W 400'TH N TO N LN
Tax Annual Amount
3867
Legal Description
THAT PT OF FOL DESC LYING S OF SLY R/W OF M-139 COM 230'S & 1205.67'W OF E1/4 PST SEC 13 T4S R19W TH W 400'TH N TO N LN
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Water front
1
Amenities
studio spaces
cafe/service counter
co-working solutions
solar array
expansive windows
Building Details
Year built
1956
Number of units
1
Building materials
Block, Brick
Listing Agency:
Keller Williams Realty Swm
(269) 982-7653
Listed By:
Dan Morissette · License #6501295859
(269) 449-4198
Added: Jun 29
Changed: Aug 4
Last Checked: Aug 21 at 3:06AM
MLS# 26032562
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 401 Klock Road in Benton Harbor, this waterfront commercial facility presents an expansive, open-concept interior designed to support flexible office and wellness use. The layout includes dedicated studio spaces, integrated co-working solutions, and a built-in cafe/service counter area. Large windows bring in natural light with water views, and the property includes a large-scale solar array.
The building sits directly along the Paw Paw River and is positioned just across Blue Star Highway from the sandy shores of Jean Klock Park. The setting also offers nearby access to the Jack Nicklaus Signature Golf Course at Harbor Shores and local marinas, with the property positioned to serve both regional visitors and year-round use. The site totals 13.86 acres, and the facility is 3,916 square feet.
The building sits directly along the Paw Paw River and is positioned just across Blue Star Highway from the sandy shores of Jean Klock Park. The setting also offers nearby access to the Jack Nicklaus Signature Golf Course at Harbor Shores and local marinas, with the property positioned to serve both regional visitors and year-round use. The site totals 13.86 acres, and the facility is 3,916 square feet.
Key Highlights
- Along the Paw Paw River, with expansive windows for water views
- Across Blue Star Highway from Jean Klock Park
- Built in 1956 with block and brick construction
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
$43,140
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
5.75%
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%
$862,800
$862.8K
Cap Rate 7%
$616,286
$616.3K
Cap Rate 9%
$479,333
$479.3K
Market Conditions
NOI Build-Up for 3,916 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
$66.7K $17.04/SF
− Vacancy
−$9.2K −$2.35/SF
EGI
$57.5K $14.69/SF
− OpEx
−$14.4K −$3.67/SF
NOI
$43.1K $11.02/SF
Area
Berrien County, MI
Vacancy
13.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$862,800
Cap Rate 7%
$616,286
Cap Rate 9%
$479,333
Alternative Uses
Best Use
Office B
$616.3K
$539.3K – $719.0K
NOI $43,140 @ 7.0% cap · market cap 5.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$824.0K
$721.0K – $961.4K
NOI $57,682 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
219
Businesses Nearby
Explore this area
Business Placement
Demographics for 49022, MI
30,143
Population
14,484
Households
2.1
Avg Household Size
39
Median Age
18%
College-Educated
85%
High-School Grad
67.3 sq mi
ZIP Area
448
Density / Sq Mi
$39,859
Median Household Income
$29,530
Median Earnings
$797
Median Rent
$140,500
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.
Frequently Asked Questions
What type of property is this?
Coworking space - Open-concept workspace with studio rooms, cafe/service counter, and large windows overlooking the Paw Paw River.
Where is this coworking space located?
The property is located at 401 Klock Road Benton Harbor, MI.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Along the Paw Paw River, with expansive windows for water views; Across Blue Star Highway from Jean Klock Park; Built in 1956 with block and brick construction
