For Sale
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511 Renaissance Drive Suite 130, St Joseph, MI 49085
Office Units
Property Size3,019 SF
Price / SF$185.49
Days on Market1857
Property Features for 511 Renaissance Drive Suite 130
General Information
Standard status
Active
Size
3,019 SF
Class
A
Total Parking Spaces
241
Property subtype
Office
Zoning
Commercial Office
Lease Type
Modified Gross
Investment Type
Owner/User
Building Details
Year Built
2003
Year Renovated
2020
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Fiskars Incorporated
Listed By:
Jim Agens · License #MI
Source:
Crexi
Added: Sep 15, 2021
Changed: Oct 8
Last Checked: Oct 14 at 10:56PM
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 Fiskars Incorporated
Investment Insights
Based on property information with market context.
Key Highlights
- Class "A" suite in The Renaissance Business Center, a professional office condominium.
- Located in the Edgewater Business District, surrounded by legal, financial, and service organizations.
- 3,019 SF of owned space in a high‑tech mixed‑use office/research/light manufacturing park.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,258
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$665,160
$665.2K
Cap Rate 7%
$475,114
$475.1K
Cap Rate 9%
$369,533
$369.5K
Market Conditions
NOI Build-Up for 3,019 SF
Gross rent
$51.4K $17.04/SF
− Vacancy
−$7.1K −$2.35/SF
EGI
$44.3K $14.69/SF
− OpEx
−$11.1K −$3.67/SF
NOI
$33.3K $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%
$665,160
Cap Rate 7%
$475,114
Cap Rate 9%
$369,533
Alternative Uses
Best Use
Office B
$475.1K
$415.7K – $554.3K
NOI $33,258 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$635.3K
$555.9K – $741.2K
NOI $44,469 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
Demographics for 49085, MI
24,047
Population
11,468
Households
2.1
Avg Household Size
44
Median Age
49%
College-Educated
97%
High-School Grad
24.1 sq mi
ZIP Area
998
Density / Sq Mi
$101,763
Median Household Income
$58,316
Median Earnings
$1,099
Median Rent
$287,300
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
Questions? Ask Rey
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Frequently Asked Questions
Where is this office units located?
The property is located at 511 Renaissance Drive Suite 130 St Joseph, MI.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Class "A" suite in The Renaissance Business Center, a professional office condominium.; Located in the Edgewater Business District, surrounded by legal, financial, and service organizations.; 3,019 SF of owned space in a high‑tech mixed‑use office/research/light manufacturing park.
