Office Unit in Three-Unit
For Sale
$100,000
4516 Lake St, Bridgman, MI 49106
Commercial space currently used for a cleaning service in Bridgman, Michigan.
Property Size588 SF
Price / SF$170.07
Days on Market243
Property Features for 4516 Lake St
General Information
Standard status
Active
Size
588 SF
Property subtype
Commercial
Building Details
Year Built
1988
Listing Agency:
Wright Properties
Listed By:
Kerry M Wright · License #6506043362
(269) 369-4640
Source:
Metrodetroithomeguide
Added: Feb 18
Changed: Oct 1
Last Checked: Oct 19 at 7:24AM
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 Wright Properties
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 588-square-foot office unit is part of a three-unit building at 4516 Lake St in Bridgman, Michigan. The space is currently used by a cleaning service, offering an existing commercial layout suited to its present operation. Built in 1988, the unit is offered separately from the other two office units in the building.
Key Highlights
- 588 square feet of office space
- One of three units in the building
- Currently used by a cleaning service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,478
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$129,560
$129.6K
Cap Rate 7%
$92,543
$92.5K
Cap Rate 9%
$71,978
$72.0K
Market Conditions
NOI Build-Up for 588 SF
Gross rent
$10.0K $17.04/SF
− Vacancy
−$1.4K −$2.35/SF
EGI
$8.6K $14.69/SF
− OpEx
−$2.2K −$3.67/SF
NOI
$6.5K $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%
$129,560
Cap Rate 7%
$92,543
Cap Rate 9%
$71,978
Alternative Uses
Best Use
Office B
$92.5K
$81.0K – $108.0K
NOI $6,478 @ 7.0% cap · market cap 6.48%
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.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Commercial space currently used for a cleaning service in Bridgman, Michigan.
Where is this office unit located?
The property is located at 4516 Lake St 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 square feet of office space; One of three units in the building; Currently used by a cleaning service
