Streetfront Retail
For Sale
$375,000
807 NAPIER AVE, Saint Joseph, MI 49085
Flexible commercial space with broad glazing, a glass entrance, covered canopy, and a customer-facing facade.
Property Size2,641 SF
Price / SF$141.99
Days on Market13
Property Features for 807 NAPIER AVE
General Information
Standard status
Active
Size
2,641 SF
Property subtype
Industrial
Amenities
expansive front windows
glass entry
covered canopy
stone accents
3
Rubber
40161
Building Details
Year Built
1940
Listing Agency:
RE/MAX by the Lake
(269) 281-4186
Listed By:
David Shepherd · License #6506048705
(269) 930-5564
Source:
Xome
Added: Aug 22
Changed: Sep 3
Last Checked: Sep 2 at 2:25PM
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 RE/MAX by the Lake
Investment Insights
Based on property information with market context.
Built in 1940, this commercial building has a street-oriented facade designed for direct customer access. Expansive front windows, a glass entry, covered canopy, and stone exterior accents define the front elevation and support a visible storefront presence. The interior offers a flexible arrangement that can be opened up or reconfigured for a new business concept.
The property is located at 807 Napier Avenue in Saint Joseph, near neighboring businesses and established commercial activity. Its prior association with pharmacy use provides context for the existing layout, while the adaptable interior may accommodate a range of commercial purposes. The building is offered for sale and can suit an owner-user, service-oriented operation, retail concept, or investment use as supported by the existing improvements.
The property is located at 807 Napier Avenue in Saint Joseph, near neighboring businesses and established commercial activity. Its prior association with pharmacy use provides context for the existing layout, while the adaptable interior may accommodate a range of commercial purposes. The building is offered for sale and can suit an owner-user, service-oriented operation, retail concept, or investment use as supported by the existing improvements.
Key Highlights
- Street‑facing commercial building at 807 Napier Avenue in Saint Joseph, MI
- Expansive front windows with a glass entry for customer access
- Covered canopy and stone accents on the front facade
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
$27,416
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
7.31%
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%
$548,320
$548.3K
Cap Rate 7%
$391,657
$391.7K
Cap Rate 9%
$304,622
$304.6K
Market Conditions
NOI Build-Up for 2,641 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
$40.9K $15.48/SF
− Vacancy
−$1.7K −$0.65/SF
EGI
$39.2K $14.83/SF
− OpEx
−$11.7K −$4.45/SF
NOI
$27.4K $10.38/SF
Area
Berrien 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%
$548,320
Cap Rate 7%
$391,657
Cap Rate 9%
$304,622
Alternative Uses
Best Use
Retail
$391.7K
$342.7K – $456.9K
NOI $27,416 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$555.7K
$486.3K – $648.4K
NOI $38,902 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Tara Florist Atelier — 2309 Lakeshore Dr, St Joseph, MI 49085
Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial space with broad glazing, a glass entrance, covered canopy, and a customer-facing facade.
Where is this storefront property located?
The property is located at 807 NAPIER AVE Saint Joseph, MI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Street‑facing commercial building at 807 Napier Avenue in Saint Joseph, MI; Expansive front windows with a glass entry for customer access; Covered canopy and stone accents on the front facade
