Creative Space with Detached
For Sale
$394,900
427 S Whittaker St, New Buffalo, MI 49117
Vacant commercial premises include a kitchenette, rear office, and a detached garage with heating and cooling.
Property Size1,500 SF
Price / SF$263.27
Days on Market197
Property Features for 427 S Whittaker St
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Commercial
Building Details
Year Built
1950
Listing Agency:
RE/MAX Harbor Country @ New Buffalo
Listed By:
Traci S Lauricella · License #6506046835
(269) 876-9163
Source:
Vmrealestatemichigan
Added: Mar 24
Changed: Oct 3
Last Checked: Oct 5 at 6:57PM
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 RE/MAX Harbor Country @ New Buffalo
Investment Insights
Based on property information with market context.
This 1,500-square-foot commercial property in New Buffalo is vacant and includes a kitchenette, bathroom, rear office area, and a detached garage. The garage adds storage space and has its own bathroom, tall ceilings, and heating and cooling. A fenced rear yard with gates is also part of the property. The building was constructed in 1950 and was most recently used for artist work and art classes.
The property is a short distance from downtown New Buffalo, shops, restaurants, Four Winds, breweries, wineries, bike trails, and public beach access at Lake Michigan.
The property is a short distance from downtown New Buffalo, shops, restaurants, Four Winds, breweries, wineries, bike trails, and public beach access at Lake Michigan.
Key Highlights
- 1,500‑square‑foot commercial property, built in 1950
- Detached garage with storage, bathroom, tall ceilings, heating, and cooling
- Main building includes a kitchenette, bathroom, and rear office area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,525
Cap Rate
4.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$330,500
$330.5K
Cap Rate 7%
$236,071
$236.1K
Cap Rate 9%
$183,611
$183.6K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$25.6K $17.04/SF
− Vacancy
−$3.5K −$2.35/SF
EGI
$22.0K $14.69/SF
− OpEx
−$5.5K −$3.67/SF
NOI
$16.5K $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 Rate 5%
$330,500
Cap Rate 7%
$236,071
Cap Rate 9%
$183,611
Alternative Uses
Best Use
Office B
$236.1K
$206.6K – $275.4K
NOI $16,525 @ 7.0% cap · market cap 4.18%
Second Best
Retail
$222.4K
$194.6K – $259.5K
NOI $15,571 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$315.6K
$276.2K – $368.3K
NOI $22,095 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Explore this area
Business Placement
Demographics for 49117, MI
3,710
Population
3,790
Households
1
Avg Household Size
54
Median Age
46%
College-Educated
96%
High-School Grad
19.0 sq mi
ZIP Area
195
Density / Sq Mi
$75,268
Median Household Income
$48,056
Median Earnings
$749
Median Rent
$448,400
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
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Frequently Asked Questions
What type of property is this?
Creative space - Vacant commercial premises include a kitchenette, rear office, and a detached garage with heating and cooling.
Where is this creative space located?
The property is located at 427 S Whittaker St New Buffalo, MI.
What is the asking price?
The asking price for this property is $394,900.
What are key features of this property?
This property features: 1,500‑square‑foot commercial property, built in 1950; Detached garage with storage, bathroom, tall ceilings, heating, and cooling; Main building includes a kitchenette, bathroom, and rear office area
