Wine Production Manufacturing
New
For Sale
$695,000
641 S Crystal Avenue, Benton Harbor, MI 49022
Licensed production facility with an associated tasting room lease and business assets included in the sale.
Property Size6,396 SF
Lot Size3.00 Acres
Price / SF$108.59
Days on Market2
Property Features for 641 S Crystal Avenue
General Information
Standard status
Active
Size
6,396 SF
Lot size
3.00 Acres
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$3,627
Building Details
Building Size
6,396 SF
Year Built
1910
Buildings
1
Stories
4428
Units
1
Listing Agency:
Realty Executives Instant Equity
(269) 208-8996
Listed By:
Jill Golden · License #6501424803
(269) 208-8996
Source:
Buyatthelake
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 5:01AM
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.
This manufacturing property includes an approximately 6400 sq ft commercial building on 3 acres in Benton Township. The facility is currently used for blending, finishing, and producing wine, cider, and spirits, and was built in 1910. The property holds Michigan Small Winery, Cider, and Michigan Small Distillery licenses.
The sale also includes a lease takeover for an off-premise tasting room at 641 S Crystal Avenue in Benton Harbor. The remodeled space measures 2000 sq ft, with the existing lease extending through 12/31/31 and an additional 10-year renewal opportunity. Included business assets comprise a custom tasting bar, tables, tasting-room equipment, the business name, trademark, logo, and other proprietary rights.
The sale also includes a lease takeover for an off-premise tasting room at 641 S Crystal Avenue in Benton Harbor. The remodeled space measures 2000 sq ft, with the existing lease extending through 12/31/31 and an additional 10-year renewal opportunity. Included business assets comprise a custom tasting bar, tables, tasting-room equipment, the business name, trademark, logo, and other proprietary rights.
Key Highlights
- Approximately 6400 sq ft commercial production building
- 3‑acre property in Benton Township
- Licensed as a Michigan Small Winery, Cider, and Michigan Small Distillery
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
$28,593
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%
$571,860
$571.9K
Cap Rate 7%
$408,471
$408.5K
Cap Rate 9%
$317,700
$317.7K
Market Conditions
NOI Build-Up for 6,400 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
−$12.3K −$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%
$571,860
Cap Rate 7%
$408,471
Cap Rate 9%
$317,700
Alternative Uses
Best Use
Retail
$949.1K
$830.5K – $1.11M
NOI $66,438 @ 7.0% cap · market cap 9.56%
Second Best
Industrial
$408.5K
$357.4K – $476.6K
NOI $28,593 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,271 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
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 - Licensed production facility with an associated tasting room lease and business assets included in the sale.
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 property in Benton Township; Licensed as a Michigan Small Winery, Cider, and Michigan Small Distillery
