Corner Storefront Retail
For Sale
$249,000
9723 Red Arrow Highway, Bridgman, MI 49106
Built in 2019 at the intersection of Red Arrow Highway and Lake St.
Property Size1,593 SF
Price / SF$156.31
Days on Market334
Property Features for 9723 Red Arrow Highway
General Information
Standard status
Active
Size
1,593 SF
Property subtype
Commercial
Lease Term
Cash, Conventional, Lease
Additional Details
Corner Location
Yes
Building Details
Building Size
1,593 SF
Year Built
2019
Units
1
Listing Agency:
Wright Properties
(269) 369-4640
Listed By:
Kerry M Wright · License #6506043362
(269) 369-4640
Source:
Sabudarealty
Added: Sep 10, 2025
Changed: Aug 4
Last Checked: Aug 9 at 12:50PM
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 Wright Properties
Investment Insights
Based on property information with market context.
This 1,593-square-foot storefront property was built in 2019 and occupies a corner location at Red Arrow Highway and Lake St. The existing commercial space is offered with the opportunity to combine it with the adjacent unit, adding 1,800 square feet to the footprint.
The property is in Bridgman, Michigan, within walking distance of Lake Michigan and Weko Beach. Other nearby destinations identified for the area include shops, eateries, microbreweries, and wineries, providing a walkable commercial setting for the storefront.
The property is in Bridgman, Michigan, within walking distance of Lake Michigan and Weko Beach. Other nearby destinations identified for the area include shops, eateries, microbreweries, and wineries, providing a walkable commercial setting for the storefront.
Key Highlights
- 1,593‑square‑foot storefront property
- Built in 2019
- Corner location at Red Arrow Highway and Lake St.
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
$16,537
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
6.64%
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%
$330,740
$330.7K
Cap Rate 7%
$236,243
$236.2K
Cap Rate 9%
$183,744
$183.7K
Market Conditions
NOI Build-Up for 1,593 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
$24.7K $15.48/SF
− Vacancy
−$1.0K −$0.65/SF
EGI
$23.6K $14.83/SF
− OpEx
−$7.1K −$4.45/SF
NOI
$16.5K $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%
$330,740
Cap Rate 7%
$236,243
Cap Rate 9%
$183,744
Alternative Uses
Best Use
Retail
$236.2K
$206.7K – $275.6K
NOI $16,537 @ 7.0% cap · market cap 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$335.2K
$293.3K – $391.1K
NOI $23,465 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
230
Businesses Nearby
16k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Speedway
Shops & Services
5,565 visits/mo
0.4 miles
Dollar General
Shops & Services
4,317 visits/mo
0.3 miles
United Federal Credit Union
Shops & Services
2,261 visits/mo
0.5 miles
Citgo
Shops & Services
2,187 visits/mo
0.4 miles
Super Wash
Shops & Services
1,340 visits/mo
0.3 miles
Demographics for 49106, MI
4,822
Population
2,472
Households
2
Avg Household Size
48
Median Age
30%
College-Educated
96%
High-School Grad
14.7 sq mi
ZIP Area
328
Density / Sq Mi
$75,064
Median Household Income
$40,108
Median Earnings
$1,139
Median Rent
$243,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Small Town Wedding And Floral — 4158 lake st, bridgman, mi 49106
Frequently Asked Questions
What type of property is this?
Storefront property - Built in 2019 at the intersection of Red Arrow Highway and Lake St.
Where is this storefront property located?
The property is located at 9723 Red Arrow Highway Bridgman, MI.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 1,593‑square‑foot storefront property; Built in 2019; Corner location at Red Arrow Highway and Lake St.
