Manufacturing Property with Production
For Sale
$695,000
641 S Crystal Avenue, Benton Harbor, MI 49022
Beverage production operation with a multi-acre Benton Township site and a leased downtown St. Joseph tasting room.
Property Size6,396 SF
Days on Market77
Property Features for 641 S Crystal Avenue
General Information
Standard status
Active
Size
6,396 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,627
Building Details
Building Size
6,396 SF
Year Built
1910
Units
1
Listing Agency:
Realty Executives Instant Equity
(269) 208-8996
Listed By:
Jill Golden · License #6501424803
(269) 208-8996
Source:
Phgrealty
Added: Jun 16
Changed: Aug 30
Last Checked: Aug 30 at 1:25PM
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 Realty Executives Instant Equity
Investment Insights
Based on property information with market context.
The property includes an approximately 6400 sq ft commercial building on 3 acres in Benton Charter Township. The facility is used for blending, finishing, and producing wine, cider, and spirits, with room on the site for expansion. Built in 1910, the building is paired with an operating beverage business and related assets.
The sale includes a lease takeover for an off-premise tasting room in downtown St. Joseph. That approximately 2000 sq tasting room was newly remodeled and includes a custom tasting bar, tables, and business furnishings. The current lease runs through 12/31/31, with an option to renew for an additional 10 years. The location is within a Michigan Social District, and the operation holds Michigan Small Winery, Cider, and Michigan Small Distillery licenses.
The sale includes a lease takeover for an off-premise tasting room in downtown St. Joseph. That approximately 2000 sq tasting room was newly remodeled and includes a custom tasting bar, tables, and business furnishings. The current lease runs through 12/31/31, with an option to renew for an additional 10 years. The location is within a Michigan Social District, and the operation holds Michigan Small Winery, Cider, and Michigan Small Distillery licenses.
Key Highlights
- Approximately 6400 sq ft commercial production building
- 3‑acre Benton Charter Township property with room for expansion
- Facility used for wine, cider, and spirits blending, finishing, and production
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
$28,575
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
4.11%
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%
$571,500
$571.5K
Cap Rate 7%
$408,214
$408.2K
Cap Rate 9%
$317,500
$317.5K
Market Conditions
NOI Build-Up for 6,396 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
$44.5K $6.96/SF
− Vacancy
−$3.7K −$0.58/SF
EGI
$40.8K $6.38/SF
− OpEx
−$12.2K −$1.91/SF
NOI
$28.6K $4.47/SF
Area
Berrien County, MI
Vacancy
8.30%
Lease Rate
$6.96 /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%
$571,500
Cap Rate 7%
$408,214
Cap Rate 9%
$317,500
Alternative Uses
Best Use
Retail
$948.5K
$830.0K – $1.11M
NOI $66,396 @ 7.0% cap · market cap 9.55%
Second Best
Industrial
$408.2K
$357.2K – $476.3K
NOI $28,575 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,212 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
Explore this area
Business Placement
Demographics for 49022, MI
30,143
Population
14,484
Households
2.1
Avg Household Size
39
Median Age
18%
College-Educated
85%
High-School Grad
67.3 sq mi
ZIP Area
448
Density / Sq Mi
$39,859
Median Household Income
$29,530
Median Earnings
$797
Median Rent
$140,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Beverage production operation with a multi-acre Benton Township site and a leased downtown St. Joseph tasting room.
Where is this manufacturing property located?
The property is located at 641 S Crystal Avenue Benton Harbor, MI.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Approximately 6400 sq ft commercial production building; 3‑acre Benton Charter Township property with room for expansion; Facility used for wine, cider, and spirits blending, finishing, and production
