Creative Retail Office
For Sale
$399,900
427 S Whittaker Street, New Buffalo, MI 49117
Vacant commercial building with a kitchenette, bathroom, parking, and a rear office area plus a detached garage with utilities.
Property Size1,500 SF
Price / SF$266.60
Days on Market130
Property Features for 427 S Whittaker Street
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Business Opportunity
Lease Term
Cash, Conventional
Additional Details
Fenced Yard
Yes
Amenities
kitchenette
bathroom
parking
rear office space
detached garage
tall ceilings
heating and cooling
privacy fenced yard
Building Details
Building Size
1,500 SF
Year Built
1950
Listing Agency:
RE/MAX Harbor Country @ New Buffalo
(269) 876-9163
Listed By:
Traci S Lauricella · License #6502390318
(269) 876-9163
Source:
Sabudarealty
Added: Mar 24
Changed: Jul 28
Last Checked: Jul 30 at 1:13PM
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 vacant commercial building offers flexible interior space that has most recently been used as a creative studio for artists and instructing art classes. The layout includes a kitchenette and a bathroom, with stylish lighting and a rear office area. Additional features include a detached garage with its own bathroom, tall ceilings, heating and cooling, and extra storage. The rear yard is privacy fenced with gates for controlled access.
The property is located on S Whittaker Street in New Buffalo, just a short distance from downtown and nearby shopping, dining, Amtrak, and Lake Michigan Public Beach access.
For practical day-to-day use, the building includes parking and a separate, detached garage that can support storage and overflow needs while remaining part of the overall site configuration.
The property is located on S Whittaker Street in New Buffalo, just a short distance from downtown and nearby shopping, dining, Amtrak, and Lake Michigan Public Beach access.
For practical day-to-day use, the building includes parking and a separate, detached garage that can support storage and overflow needs while remaining part of the overall site configuration.
Key Highlights
- Vacant commercial building with kitchenette, bathroom, parking, and rear office area
- Detached garage with additional storage, its own bathroom, and heating and cooling
- Rear yard is privacy fenced with gates
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.6k | $17.04 |
| − Vacancy | −$3.5k | −$2.35 |
| EGI | $22.0k | $14.69 |
| − OpEx | −$5.5k | −$3.67 |
| NOI | $16.5k | $11.02 |
1,500 SF · lease $17.04/SF/yr · vacancy 13.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$236.1K
$206.6K – $275.4K
NOI $16,525 @ 7.0% cap · market cap 4.13%
Second Best
Retail
$222.4K
$194.6K – $259.5K
NOI $15,571 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$315.6K
$276.2K – $368.3K
NOI $22,095 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
506
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - Vacant commercial building with a kitchenette, bathroom, parking, and a rear office area plus a detached garage with utilities.
Where is this creative space located?
The property is located at 427 S Whittaker Street New Buffalo, MI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Vacant commercial building with kitchenette, bathroom, parking, and rear office area; Detached garage with additional storage, its own bathroom, and heating and cooling; Rear yard is privacy fenced with gates
