Prime Commercial Opportunity Near
For Sale
$235,000
555 Broadway Street, South Haven, MI 49090
Highly visible corner lot near downtown and Lake Michigan.
Property Size1,341 SF
Price / SF$175.24
Days on Market350
Property Features for 555 Broadway Street
General Information
Standard status
Active
Size
1,341 SF
Property subtype
Commercial
Lease Term
Cash, Contract, Conventional
Taxes and HOA fees
Annual Taxes
$3,280
Building Details
Building Size
1,341 SF
Year Built
1940
Units
1
Listing Agency:
Jaqua REALTORS
(269) 214-1257
Listed By:
Amy O'Sullivan · License #6506040161
(269) 214-1257
Source:
Sabudarealty
Added: Sep 10, 2025
Changed: Aug 23
Last Checked: Aug 24 at 12:43PM
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 Jaqua REALTORS
Investment Insights
Based on property information with market context.
This commercial property presents an opportunity near downtown South Haven and Lake Michigan. The property consists of a corner double lot, offering space for parking and expansion. Ramps are in place to provide accessibility. The property includes two parcel numbers, which may provide flexibility for various business or office uses. The location is on one of South Haven's most traveled streets.
Key Highlights
- Prime location: Just three blocks from downtown South Haven and Lake Michigan.
- High visibility on a heavily traveled street.
- Double lot provides ample space for parking and expansion.
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
$13,921
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
5.92%
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%
$278,420
$278.4K
Cap Rate 7%
$198,871
$198.9K
Cap Rate 9%
$154,678
$154.7K
Market Conditions
NOI Build-Up for 1,341 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
$20.8K $15.48/SF
− Vacancy
−$872 −$0.65/SF
EGI
$19.9K $14.83/SF
− OpEx
−$6.0K −$4.45/SF
NOI
$13.9K $10.38/SF
Area
Van Buren 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%
$278,420
Cap Rate 7%
$198,871
Cap Rate 9%
$154,678
Alternative Uses
Best Use
Retail
$198.9K
$174.0K – $232.0K
NOI $13,921 @ 7.0% cap · market cap 5.92%
Second Best
Office B
$196.4K
$171.8K – $229.1K
NOI $13,745 @ 7.0% cap · market cap 5.85%
Theoretical Best
Multifamily LT 5
$16.58M
$14.51M – $19.34M
NOI $1,160,687 @ 7.0% cap · market cap 493.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
820
Businesses Nearby
Explore this area
Business Placement
Demographics for 49090, MI
13,286
Population
8,904
Households
1.5
Avg Household Size
49
Median Age
31%
College-Educated
89%
High-School Grad
78.3 sq mi
ZIP Area
170
Density / Sq Mi
$64,643
Median Household Income
$40,067
Median Earnings
$914
Median Rent
$251,500
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?
Commercial land - Highly visible corner lot near downtown and Lake Michigan.
Where is this commercial land located?
The property is located at 555 Broadway Street South Haven, MI.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Prime location: Just three blocks from downtown South Haven and Lake Michigan.; High visibility on a heavily traveled street.; Double lot provides ample space for parking and expansion.
