Retail Storefront
For Sale
Contact for pricing
4516 Lake Street, Bridgman, MI 49106
Small storefront suite currently operating as a cleaning service within a three-unit building.
Property Size588 SF
Price / SF$170.07
Days on Market63
Property Features for 4516 Lake Street
General Information
Standard status
Active
Size
588 SF
Property subtype
Retail
Building Details
Year Built
1988
Year Renovated
2020
Buildings
1
Units
1
Listing Agency:
Evergreen Real Estate
(269) 369-4640
Listed By:
Kerry Wright · License #6506043362
Source:
Crexi
Added: Jun 10
Changed: Aug 8
Last Checked: Aug 10 at 7:32AM
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 Evergreen Real Estate
Investment Insights
Based on property information with market context.
This sale offering includes a 588-square-foot retail storefront suite currently operated as a cleaning service under “Maid with Perfection.” The space is one of three units in the building, providing a self-contained option for a buyer who wants to own a specific retail tenancy.
The property is located at 4516 Lake Street in Bridgman, Michigan. As part of a multi-unit building, the suite benefits from being within an established retail property configuration, with access and usage aligned to the existing storefront setup.
For prospective owners or tenants, this unit may fit service-oriented retail users looking for a compact, street-oriented storefront presence. Since it is being sold as an individual suite within a three-unit building, it can also appeal to those who prefer to control acquisition at the unit level, while the option remains to review the separate MLS listing for purchase of the entire building that includes all three units.
The property is located at 4516 Lake Street in Bridgman, Michigan. As part of a multi-unit building, the suite benefits from being within an established retail property configuration, with access and usage aligned to the existing storefront setup.
For prospective owners or tenants, this unit may fit service-oriented retail users looking for a compact, street-oriented storefront presence. Since it is being sold as an individual suite within a three-unit building, it can also appeal to those who prefer to control acquisition at the unit level, while the option remains to review the separate MLS listing for purchase of the entire building that includes all three units.
Key Highlights
- 588 SF small storefront suite currently operating as a cleaning service (“Maid with Perfection”).
- Unit is one of three total units in the building.
- Building year built: 1988.
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
$6,104
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
6.10%
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%
$122,080
$122.1K
Cap Rate 7%
$87,200
$87.2K
Cap Rate 9%
$67,822
$67.8K
Market Conditions
NOI Build-Up for 588 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
$9.1K $15.48/SF
− Vacancy
−$382 −$0.65/SF
EGI
$8.7K $14.83/SF
− OpEx
−$2.6K −$4.45/SF
NOI
$6.1K $10.38/SF
Area
Berrien County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$122,080
Cap Rate 7%
$87,200
Cap Rate 9%
$67,822
Alternative Uses
Best Use
Retail
$87.2K
$76.3K – $101.7K
NOI $6,104 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$123.7K
$108.3K – $144.4K
NOI $8,661 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
5k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
SUBWAY
Dining
3,841 visits/mo
0.5 miles
Pizza Hut
Dining
1,064 visits/mo
0.5 miles
Demographics for 49106, MI
4,822
Population
2,472
Households
2
Avg Household Size
48
Median Age
30%
College-Educated
96%
High-School Grad
14.7 sq mi
ZIP Area
328
Density / Sq Mi
$75,064
Median Household Income
$40,108
Median Earnings
$1,139
Median Rent
$243,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Small Town Wedding And Floral — 4158 lake st, bridgman, mi 49106
Frequently Asked Questions
What type of property is this?
Storefront property - Small storefront suite currently operating as a cleaning service within a three-unit building.
Where is this storefront property located?
The property is located at 4516 Lake Street Bridgman, MI.
What is the asking price?
The asking price for this property is $100,000.
What are key features of this property?
This property features: 588 SF small storefront suite currently operating as a cleaning service (“Maid with Perfection”).; Unit is one of three total units in the building.; Building year built: 1988.
